World’s 1st treasury bills app, I-INVEST, launched in Nigeria
Lagos scored another first on the global innovation scene last weekend with the launch of I-invest, a mobile treasury bills (T-Bills) investment app.
I-invest is a software application developed by Parthian Partners, a pan African inter-brokerage services firm in partnership with Nigeria’s leading commercial bank, Sterling Bank Plc.
The first-of-its-kind investment app levels the playing ground for new investors in the money market providing them with equal opportunities available to experienced and institutional investors to improve their portfolios through treasury bills.
The app eliminates entry barriers such as lack of education and information to make smart investment decisions and the ability to get a broker and/or time required to visit banks to fill forms for treasury bills.
Commenting on the app, Oluseye Olusoga, CEO, Parthian Partners said, “I-invest extends the use of mobile technology beyond money transfers, utility bill payments and airtime purchases. It broadens the choice of money market products available to new and experienced retail investors in the Nigerian money market to include treasury bills.
“Potential investors require only a smartphone with a functional mobile phone line and data subscription to use I-invest.”
Olusoga added that I-invest will appeal to the typical Nigerian who is looking to grow their savings, saying now they can invest in treasury bills irrespective of their location in Nigeria.
On his part, Ibidapo Martins, Chief Marketing Officer, Sterling Bank Plc said, “I-invest is a secure and convenient mobile app that deflates the elitist and upmarket status associated with investing in treasury bills.
A first-time investor can download the app from the android app store, register and start investing within five minutes.”
To start investing, users can select from the list of available securities, with a minimum amount of N100,000 and confirm transaction. Interest accrues daily, while the investment amount and interest will be credited to the customer’s account on maturity.
By Sunday Michael Ogwu, Dailytrust.ng
