BY CHARLES ABUEDE
Sofri, a new digital banking platform owned by DLM Capital Group, made its entry into the increasingly growing Nigerian fintech market following its launch on Thursday.
Sofri is being promoted by DLM Capital as a one-stop-shop mobile app and subsidiary of the investment bank with a vision to become an enabler of financial liberty as well as providing easy access to financial products.
The brand name, Sofri, is derived from the Pidgin English expression, “sofri sofri”, which translates to “easy” or “stress-free”, the group said in a statement.
DLM explained that Sofri Digital Bank identifies with the financial hassles of everyday living and portrays easy access to providing solutions to these problems.
Available on both android and IOS stores, the digital bank is designed as a one-stop-shop approach for all its users and will include loans, investments, and savings products.
The move into the fintech and digital banking space is part of the company’s desire to further deepen social value creation and financial inclusion in the Nigerian market with the group hoping that the Nigerian digital lending space will experience a unique brand of a digital bank that serves as a one-stop-shop for all the financial needs of customers.
At the official launch at DLM’s head office in Lagos, which happened alongside the unveiling of Sofri’s brand ambassador, Samuel Perry, popularly known as BrodaShaggi, Funsho Idowu, managing director and chief executive officer of Sofri, said the brand is bringing premium digital banking to Nigerians with simplicity and uniqueness being the major differentiation.
Idowu said the digital banking platform, which is here to help Nigerians build a corporate credit profile, imbibes the artificial intelligence feature on the app and can enable the performance of investment services and access loan facilities between N5000 to N5 million.
“The Sofri app is designed to strengthen our commitment to our clients and provide them with access to renewed solutions, especially in today’s digital world. This is part of our obligations to consistently provide innovative, simple, and convenient services and to add value to our stakeholders,” Idowu said.
Sofri brand ambassador, Samuel Perry, A.K.A BrodaShaggi, said, “I am excited to be affiliated with a brand like Sofri. We live in a part of the world where there are countless financial frustrations faced daily. Sofri’s pledge to ease these frustrations is a remarkable thing for me and I can’t wait to use my platform to spread the news and inform my fans of the numerous opportunities Sofri presents.”
Meanwhile, BankSofri has entered into a debit card partnership with MasterCard to serve customers with easy digital and card banking as it pushes to introduce a credit card feature and use on the platform, near term.