Zambia-based Zazu is creating a financial control center to make access to financial services affordable for everyone.
According to its website, Zazu will be a pre-paid debit card linked to a smartphone app showing users where and how money is spent. Operating a digital only service, will simplify how people can get personalised services at the right time.
In a blog post on its site, Zazu says: “The way we use phones has changed our lives, we can see immediately who has read or ignored our messages. And we think that your phone should be a powerful source of data and information about how you are living your life. Your phone can give you vital insight about where you are spending most of your money and it can help you with budgeting. By cutting down the time you spend in branch, we want you to stay in control of your finances”.
Zazu believes technology should be used to help people self-finance themselves out of poverty, and that digital services are the answer. “We believe access to banking should be simple, straightforward and affordable to everyone,” it states.