Big Family 360 Foundation

Northwave app is a fintech mobile application that allows MSMEs to engage in money circling (collective savings) in a safe and secure manner. The application is designed to ease the retrieval of investment among group members that are engaged in money circling without any breach of contract. The northwave app helps to collect and retrieve savings from group members(customers) via their debit cards and bank accounts as due, hence saving group members from losing their money and investment. The group's monetary contribution is based on one’s financial capacity and strength. A group can be created based on the informed decision of the group members by setting mandates on the amount to be collected, the date, and the time and the payment can be spread over time to meet the target as the customer wishes. Adashe is an ancient practice among community members in northern Nigeria and we have been working with over 1000 women to create the saving (Adashe) group manually but we discovered a gap where people failed to remit their investment on time or sometimes refuse to remit zero investment. Therefore, the northwave innovation is meeting a critical need by ensuring the timely collection of investment from group members by reducing the chances of group members absconding with people’s money.