Sterling Bank Plc, Africa’s most agile company, has launched a new online investment portal, known as Doubble, to cater to the investment appetite of individuals in an active workforce.
Doubble is an automated investment platform that allows individuals to invest at their convenience and get back up to 200 percent over a period.
Speaking on the new platform in Lagos recently, Dapo Martins, Chief Marketing Officer, Sterling Bank, said Doubble was designed to address the concerns of individuals who are looking to accumulate savings over a specific timeline to take care of future needs.
“With Doubble, a customer can choose to invest either a lump sum in one contribution or monthly contributions, which could be for the duration of 12 months to 60 months with all pay-outs remitted either monthly or once a target is achieved to named beneficiaries.
He said the solution could function as an annuity to some customers as it guarantees monthly payment to beneficiaries at regular intervals over a specified duration. He added that the platform’s flexibility would allow the customer to select other beneficiaries such as children, spouse or parents for pay-out.
He also mentioned that the solution could be used for target savings in both Naira and Dollars to achieve a certain amount in a specific number of years earning interest along the way.
The online platform provides customers with a calculator that can aid planning. Doubble also empowers individuals to plan towards future consistent cash outflows such as payment for utilities, monthly upkeep, and payment for mortgages while applications can be done immediately and a future convenient date selected for the contract to commence.
Nigerian startups raised $17.6m in Q1 2019, 8.5% higher than they did in Q1 2018. Find out more in the latest quarterly edition of the Nigerian Startup Funding Report here.