Set goals transparently and let the app make the investments for you
Internet penetration in Kenya has forced several companies to align their products with online service offerings. The practice has seen notable growth in financial services, where fintechs have taken advantage of several services not traditionally offered by banks, including a wide range of payment platforms, to name a few. , and have created platforms for them. As a result, banks have embarked on a race to integrate such services into their portfolios in an effort to stay competitive, a business that matches the mass exodus to online banking apps that are packed with great features.
This is the approach adopted by CBA Loop: its application, which has been revived a few days ago, has since been updated to include a set of useful tools that competing apps frankly lack. The features are bundled together in a modern and attractive app (more so in another day), and the user interface is pretty good.
Besides the introduction of online loans (which you can access after doing a few transactions used to manage credit scores), the latest version of Loop is integrated with the Invest and Objectives options.
Investing can be a difficult and intimidating endeavor to get involved in. One of the perks is the possibility of future earnings which are genuinely rewarding, but new investors like yours may lack the knowledge and support to make sound investment decisions. These obstacles are common in a number of local financial applications. However, Loop promises to meet the challenges with its modern app design, low costs and automation as it takes care of all the issues and gives you the best rates on the market.
To set up an investment, you need as little as Kes 1000.
People hardly save, probably because they were not taught the habit of saving when they grew up. Those who do are doing it for one thing: retirement. Even when considering short-term savings, people are using their funds to serve other pressing priorities.
Loop hopes to help consumers on the go get smarter with their money, regardless of their income. His Goals The option targets people who want to set short or long term goals. The feature aims to make users feel in control of their money, a notable achievement as people work on demand and earn unstable incomes.
In this case, users can set multiple goals and save to meet each specific goal. Loop also discourages the need to open multiple bank accounts for different savings needs.