22seven goes #datafree with a brand new financial management tool

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By Jikku Joseph, Managing Director at 22seven, and Gour Lentell, CEO at Datafree

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The widespread budgeting app 22seven has launched 22seven lite, a datafree model that may give 1000’s extra South Africans the instruments to handle their finances in order that they’ll plan higher and save extra.

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• 22seven lite is launched in collaboration with widespread messaging tremendous app, Moya.

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• It is completely free to make use of, requiring no airtime or cell information.

• It is 100% protected and safe, utilizing bank-level encryption to guard customers’ privateness.

22seven was launched in 2012, with the ambition of empowering individuals to take management of their finances. Users can see all their money in a single place, and the superior transaction categorisation engine generates a personalised price range primarily based on precise spending, which permits customers to handle their money with confidence.

“More than 400 000 individuals at the moment use 22seven,” says Managing Director Jikku Joseph. “But the app requires Wi-Fi or cell information. Research confirmed that hundreds of thousands of South Africans don’t need to download one other app or spend extra money on information, which makes them reluctant to make use of 22seven. That’s why we constructed 22seven lite. Our aim has all the time been to supply financial instruments to all South Africans and we imagine that our new, datafree platform will assist us obtain that aim.”

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22seven lite is accessed by way of Moya, a datafree messaging tremendous app. Moya is free to download from the Android app retailer; search for 22seven lite within the “Discover > Money & Services” part of the app.

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Jikku Joseph is managing director at 22seven Picture: Supplied

Users solely want an electronic mail handle to join 22seven lite. Once signed up, they’ll link financial institution accounts, retailer playing cards, funding and mortgage accounts. 22seven lite then makes use of this data to assist customers monitor their spend and price range rather more simply.

“We are very happy to companion with Moya. They share our imaginative and prescient of creating our life-changing service broadly accessible, and they’re dedicated to assist us develop a financially assured South Africa,” says Joseph.

22seven has stringent information privateness controls, that are shared by 22seven lite. The similar bank-level encryption is used to guard customers’ non-public data. “The consumer connects accounts by coming into their account login particulars, however these particulars are by no means seen by human eyes. It’s read-only, no one can transact on the accounts in 22seven lite,” says Joseph.

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22seven can be backed by Old Mutual and is insured like a financial institution, so your money is protected. Since launch in 2012, South Africans have securely linked greater than 1.3 million accounts to 22seven.

“By providing extra individuals the instruments to take management of their finances, we hope to develop a money management tradition in South Africa – and hopefully in different African nations someday,” says Joseph in closing. “We need to assist extra individuals make higher financial choices by way of data and consciousness.”

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