Rank launches community finance products to expand access to capital

Rank, the Nigerian fintech formerly known as Moni, has launched three community-powered financial products, betting that digitising Africa’s traditional savings groups can provide a new route to zero-interest capital for individuals and small businesses. Starting in Nigeria, the company unveiled Money Circles, a digital version of rotating savings groups; Tribe, which enables existing communities to manage shared finances; and Rank Perks, a payroll product offering salary-backed credit and workp