A US-based Nigerian, Michael Adegbite, has developed an artificial Intelligence-powered digital savings platform SquadSave, that leverages adaptive algorithms to help users collectively manage and grow their finances.
The Artificial Intelligence-powered tool simplifies and personalises financial decision-making for underserved users.
He said drawing on the principles of rotating savings and credit associations (ROSCAs), SquadSave is designed to support individuals who may lack consistent income or formal credit histories.
Adegbite said his interest in inclusive finance was first shaped by academic research into “Bank Lending Practices and Credit Management in Nigeria.”
”The study highlighted how traditional credit systems often fail to accommodate individuals operating in the informal economy, such as small-scale entrepreneurs and unbanked populations.
”These insights informed my professional focus on using technology to improve access to financial services for those excluded from conventional systems,” he said.
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Adegbite said the platform’s intelligent features track contributions, optimise payouts, and provide culturally relevant financial insights to users who may be new to digital banking.
”These tools are tailored to reflect the realities of informal economies and underbanked communities.
”The systems use machine learning models capable of adapting to irregular cash flows, limited documentation, and other constraints that often limit access to traditional financial services,” he revealed.
According him, the approach emphasises accessible design and localised financial literacy, making fintech innovation more relevant to the people it is intended to serve.
Adegbite has participated in forums that explore the responsible application of data and algorithms in consumer finance, advocating for transparency, fairness, and safeguards against algorithmic bias.
His work spans across North America, Africa, and Latin America with the aim to bridge the digital divide by equipping historically excluded populations with tools for economic participation.
