ASUSU is Digitizing Cooperatives in Nigeria

ASUSU is an online platform that’s set to digitize the old village savings and loans systems also known as a cooperative.

The ASUSU platform helps provide cooperators with easy online access to their savings and loans, helps transfer loan request from the cooperative to the cooperators, provide access to merchants for installment payments of goods purchased and also help them build credit score so as to achieve financial inclusion for low income earners and informal business people who us the village savings and loan scheme.

It also helps cooperative administrators manage data, process and disburse loans faster, and provide them with more detailed information about the cooperative activities, eliminating the old manual way of providing this solution

According to the founders, “we have created a unique algorithm that helps these group of people who have been excluded from financial services, a problem we like to believe the banking sector has refused to address.

Through the platform, cooperatives and cooperators can view track and manage their savings and loans and deductions.

With the ASUSU card and wallet, members of cooperatives can gain access to multiple merchants online and offline and buy goods and services with instalmental payment plans.

They are also able to transfer money to members with ease once loans have been approved, saving time and money.

Refining traditional cooperatives by bringing online is a definitely a great Idea, and would make collective saving a lot easier.