PiggyVest: Users React to PiggyBank’s Name Change and Restructuring

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Users React to PiggyBank's Name Change and Restructuring

PiggyBank, the hugely popular Nigerian saving platform is undergoing a restructuring. According to an official blog post, the startup announced it is pivoting from a strictly savings platform to a “robust financial platform.”

“We have morphed into more than just a savings platform, and are growing into a robust financial management platform with many products planned for the next few years, to enable you to better manage your finances.”

Launched in 2016, PiggyBank has grown quickly as a digital saving platform. Over the last two years, the startup has grown to reach nearly 200,000 users.

As part of this growth, it has since added non-saving features such as PiggyFlex and AvonFlex, a health insurance plan.

PiggyBank Becomes PiggyVest

Importantly, as part of the restructuring, PiggyBank has announced a change of name. PiggyBank will now go by the new name PiggyVest. According to the company, the new name and branding is to “better reflect our growth, who we are and our vision.”

The company says the change of name will not affect its current product offerings. Rather, it would allow the platform and its users have access to more tailored savings and investment products.

The startup is thus looking to add a host of new investment options to the PiggyBank platform over the next 12 months.

How Did Users React to the name Change?

The change of name, so far, has attracted mixed reactions from users online. Many users say they love the name and others went as far as calling the move laudable.

https://twitter.com/NisforNora/status/1094914997300457474

However, as with all things, not everyone is truly feeling the new name. Two users pointed out that the name process could have been done better.

Nevertheless, what’s done is done, users will just have to get along with the program.


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