How to grow your money app with savings groups
By SendPay Business · · 2 min read
Across the world, friends, neighbours and colleagues save together in groups: a susu in Ghana, a chama in Kenya, a tontine in West and Central Africa, a committee in Pakistan. These groups already trust each other with money, and they are often poorly served by banks.
Understand how the group works
Before you build anything, sit with a group and learn:
- How much each member pays in and how often.
- Who collects and who keeps the records.
- How they decide whose turn it is to receive.
- What goes wrong today, like late payments or lost records.
Solve their real problems
Clear records everyone can see, reminders before payment day and a simple way to pay in from a phone are often more valuable than any new feature.
Work through the organiser
Each group has someone who keeps it running. Win that person's trust and the whole group can follow. Ask what would make their job easier.
Respect the group's rules
Groups have their own traditions. Fit your app around the way they already work instead of asking them to change.
Build it
Create your own financial platform.
Pick a template, name it, brand it, preview every page before you pay. Your brand, your users, your fees.
Build my platform →Questions people ask
How do I talk to customers before building?
The customer interviews guide covers what to ask and how to listen.
Talk to customers first →How do I build a community?
The community guide covers bringing your users together.
Build a community →Can I call it a bank?
In most countries "bank" is a protected word you can only use with a banking licence. Call it an account, a wallet, an app or a platform. The accounts and payments behind a SendPay Business platform are powered by licensed partners.
Is there a step-by-step plan I can follow?
Yes. The free launch checklist takes you from picking your people and naming your app to setting fees, going live and winning your first ten customers.
Digital bank app launch checklist →How do I start?
Pick a template, name it and preview every page before you pay. Your platform can be live on your own domain within 24 hours of confirmation.
Build my platform →Read next
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. PayPal, Patreon and Substack are named as reference points only and are not affiliated with SendPay Business.