Company Information

Get to know Kolo Lagos

Kolo is a digital "piggy bank" service launched by First City Monument Bank (FCMB), a major Nigerian financial institution. The platform's mission is to promote financial discipline and inclusion by making it easier for individuals, particularly the youth in Nigeria, to save money towards specific goals. The app allows users to create savings plans, automate deposits from their bank accounts, and earn competitive interest rates. Kolo leverages technology to modernize the traditional concept of a savings box, providing a simple, secure, and rewarding way for users to manage their personal finances.

Industry

Financial BankingPRIMARY
Financial Other Service

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Kolo Lagos

Nigeria

Founded in

2018 (8 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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FTD LIMITED

(505 reviews)

British Virgin Islands

2017

(9 years)

Security Information :

BVI FSC

Security Information

Warning

This company is currently Unproved.

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.