A new financial technology company, Sparkle says it’s targeting the country’s retail sector to provide customised financial and lifestyle services for Nigerians.
Uzoma Dozie, the Founder and CEO of Sparkle, disclosed this via a statement made available to Daily Trust in Lagos.
According to Dozie, who was the last Group Managing Director of Diamond Bank, Nigeria, Sparkle will tackle how retailers can achieve their daily objectives and scale their businesses, providing a suite of innovative lifestyle services, in addition to typical current and savings accounts that exist in the market.
He said Sparkle will, in particular, deliver customer experience-led support services, ranging from inventory management and invoicing statements to foreign exchange services and a POS-via-mobile function.
“Retailers and consumers in Nigeria are currently disconnected; Sparkle is building the solution around its understanding of the challenges of small businesses, which will help reduce the operational risks small businesses are exposed to in their infancy.
“Sparkle is a product, a community, born out of necessity for Nigeria’s retail landscape. We will connect millions of retailers on a digital platform, providing a service they can trust, that is seamless, and that allows for frictionless transactions across all activities and business services.
“Having spent more than 20 years building out the retail arm of Diamond Bank, it is clear that there is a significant gap in the market to incubate and roll out a new approach to services for retailers, and at scale; they need a financial & business services partner, not another finance platform. This is where we stand out from all others.
“Sparkle is a collaboration between retailer and customer – a support system that will ensure far greater financial inclusion and much improved access to market, built for many, built to scale.
“Technology adoption is the only way retail can scale in Nigeria. We are in a new, digital economy. Retailers, individuals and businesses need the space and bandwidth to be creative and to build their business.
“We are building Sparkle as a wrap around for what they are already doing and we are levelling the playing field for all Nigerians, democratizing access and helping SMEs create their own luck. Sparkle is for the many, not for the few and as we continue to build out the platform,” Dozie said.
Powered by AI and Machine Learning, Sparkle is building a dynamic community around Nigeria’s retailers and consumers, influencing purchasing decisions based on user-generated behavioural purchase data, the statement noted.
It further noted that the company has also entered into partnerships with Visa, Network International, PricewaterHouseCoopers (PwC) and Microsoft to deliver a world class mobile-first platform for Sparkle.
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