Halo Financial Service targets 2.5m subscribers in 2 years

To drive financial inclusion in the country, Halo Financial Services Limited, a fintech start-up, has launched its services with an innovative approach to helping Nigerians manage and grow their money just as the firm planned to get about 2.5 million active members by the end of 2023.

Speaking at a media round table in Lagos to introduce the company, its Chief Executive Officer and co-founder, ChidimmaOnyeokoro, disclosed that Halo decided to unveil its services to bring technology, wealth management, savings, lending and credit and also improve Nigerians’ participation in financial growth.

Onyeokoro noted that the firm enables communities to provide financial services to their members, while adding that its clients include professional or trade associations, cooperatives, social clubs, unions, even old boys and girls associations and more. “Nigerians, have always understood that we progress faster when we do things together. From traditional, groups savings schemes like ajo, to communities putting money together for community development projects, even friends pooling resources to help one of their squad. There is strength in numbers and so we are using technology to harness that strength to drive wealth creation for individuals through their communities”, she said.

According to her, Halo will be able to reach more people with the products, tools and knowledge to meet their wealth creation goals by leveraging existing trust networks.

Speaking on the firm’s competitive advantage over its peers, its Chief Growth Officer and co-founder, NnennaOnyewuchi, explained that the company, which has a capital base of N200 million, holds a micro finance bank licence and asset management licence.

“This allows us to offer a full spectrum of financial services from basic banking to sophisticated investments. It also means we are regulated by both CBN, SEC and NDIC and so our risk management and corporate governance is very rigorous”, Onyewuchi said.

Noting that the company is keen on serving as many people as possible, she explained that Halo offers multi-channel access. She said, “For those comfortable with technology, there is an app, mass market customers can transact with Halo via a nationwide network of agents, and high net worth communities can access a managed service”.

Onyewuchi stated that the fintech space in Nigeria is extremely competitive and added that the firm have built a team of dynamic, knowledgeable, and committed professionals with a deep understanding of market realities, and more importantly, possess the right skills and experience help communities and their members navigate the financial landscape and reach their goals