WhatsApp AI bot Xara wants to make banking in Nigeria as easy as chatting
- Xara, an AI banking assistant, was launched in June by Nigerian software engineer Sulaiman Adewale.
- The bot allows users to send money, pay bills, and analyze spending through WhatsApp, which is used by 95% of Nigeria’s social media users.
- In its first two weeks, Xara registered 10,000 users and processed over ₦135 million in transactions.
Xara represents a significant innovation in the fintech space, particularly in a market like Nigeria where traditional banking services are often inaccessible. Its integration with WhatsApp not only simplifies transactions but also addresses security concerns, making it a compelling alternative for users. However, the success of such tools will depend on ongoing user education and trust-building regarding data security.
