VPD.money is a financial services App brought to you by part of the team that delivered VoguePay, A leading payment solutions provider that was founded in 2012 and now operating across 5 continents has reemphasized the importance of VPD.money mobile app as a financial management tool for Nigerians. The mobile app has been lauded by users as an innovative mobile app that has aided transactions to a great extent for them.
Speaking on the importance of the mobile app, Michael Femi Simeon the Co-founder and Chief Executive Officer at VPD.money said “VPD.money is a financial services and lifestyle App that offers its users money management tools, instant access to a digital wallet and bank account. We are unifying wallet and digital banking experience in order to bridge the gap between Africa and the global e-commerce market. Enabling connectivity that drives performance powered by individuals, African & International SMEs, and the diaspora community seeking to trade or complete transactions in/with Africa. In a nutshell, VPD is the new way of living. The banking choice for the smart and new generation. A lifestyle banking app.”
“We believe that if you go to any part of the world be it Kenya or Gambia, you shouldn’t be bothered about remittances, payment and exchange rates, that is where we come in. Though, we have Fintechs in payment, digital banking etc. we are into digital banking that is supported by artificial intelligence (AI) these solution helps in gathering data for you, tries to answer critical questions like how to serve you best, at what convenient and at what rates can I change the currencies when you travel out. Our solution addresses these things”, Michael added.
Speaking on the relationship with the legacy banks or the traditional banks, the Fintech boss said that there is need for banks to partner with fintechs to be relevant in future.
He opined that “Our relationship has been great, as banks, the traditional banks ought to work with us and they are doing that. Though the regulation is developed around the legacy banks, a lot of smart banks are working hand in hand with innovative fintechs so as to disrupt themselves. Some are even buying fintechs and investing massively, any bank that wants to be part of the future must align with the realities which is fintech. If you want to go far in this ecosystem, you must key into fintech. “
Simeon lamented on the importation of foreign software to the detriment of indigenous software developers and fintech firms. Running into billions on annual basis, the fintech boss said that it is high time banks started collaborating with indigenous fintech firm to make them scale in future and be highly competitive. Available in the Google Playstore and Apple Playstore, VPD.money has gained acceptability in the country.
“It is not only a wrong approach, but a gross betrayal to millions of Nigeria that has the capacity to deliver and also a capital flight to the nation. It is worrisome. We have the biggest resources which is the people, go to Silicon Valley, you see a lot of Nigerians thriving and manning serious IT projects, why are the Nigerian banks deploying obsolete Indian software”, Simeon concluded.
ANTHONY EMEKA NWOSU
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