3 money savings apps empowering individuals in Kenya

By Delisha Fernandes

Money saving apps are at the forefront of this transformative wave as the financial technology landscape rapidly evolves. These innovative applications have embraced many techniques, turning the often cumbersome task of saving money into a seamless and enjoyable experience.

Gone are the days of traditional piggy banks; today, you only need a checking account and a smartphone to embark on a financial empowerment journey. Whether you’re a seasoned saver or just embarking on your savings journey, these apps employ various techniques to simplify the savings process, offering users diverse tools and strategies tailored to their unique needs.

Here are 3 money savings apps empowering individuals in Kenya:

• Chumz

Chumz offers real-time, mobile, and accessible investing. Users can establish savings clubs, obtain performance data on their money, and track their savings objectives. It allows you to save both as an individual and as a group to achieve both short and long-term financial goals and objectives. It is personalized to your day-to-day experiences to find your saving sweet spot and accelerate savings habits through goals, saving rules & challenges and a great user experience.

• Flexpay app

Flexpay is a merchant-embedded digital save-to-buy experience that rewards customers for saving up for large and small purchases they need. The platform collaborates with retailers, brands, marketplaces, and banks to reward customers for saving up for the things they want, closing the affordability gap debt-free, increasing customer retention, and growing sales for the merchants.

• Sortika

Sortika is a micro-savings platform that seeks to democratize savings and investments by employing innovative tools that simplify the financial planning and investing process. The app aims to take users from zero savings to an investment plan through passive savings, robo-advisory, P2P and AI driven PFM tools and solutions.