A new digital bank called Sparkle has started its operations in Nigeria after receiving a operating licence from the Central Bank of Nigeria (CBN), the media reported.
Sparkle is launched by the former chief executive officer (CEO) of Diamond Bank and tech entrepreneur Uzoma Dozie.
Sparkle is launching its mobile application in Nigeria, which is available in both iOS and Android platforms. It offers flexible payment solutions, saving facilities, and analytics to provide greater freedom, flexibility, and control over finances and lifestyle.
Uzoma Dozie told the media, “Sparkle will be transformational for Nigerians across the globe and I am hugely excited to be launching it today. Sparkle is redefining Nigerian commerce by merging financial services with a seamless lifestyle solution.”
“We are removing barriers using technology and data, driving inclusion at scale. In doing so, we are empowering Nigerians to fulfil their potential, democratizing access to valuable solutions for both business and personal needs. We are working with global partners to unleash freedom, flexibility and transparency in Nigeria. We are helping to drive forward the growth of Nigeria’s budding entrepreneurs and individuals.”
To launch its services, Sparkle is partnering with the likes of Visa, Microsoft, and PwC Nigeria.
Last month, another Nigeria-based digital bank called Brass raised funding from Nigerian VC firm, Ventures Platform.
Brass is a fully digital bank targeting SMEs in Nigeria. It aims to help SMEs open and operate accounts with ease. It also aims to provide a better banking experience and tools to help them run more efficiently and increase revenue.