Vault22, a financial wellness platform, has launched in South Africa with the goal of improving financial literacy and empowering users to manage and grow their wealth.

The platform, which already has over 200,000 pre-registered users, offers a range of tools designed to support financial fitness, including spending monitoring, debt reduction guidance and opportunities for wealth growth through investments.

Previously branded 22seven, Vault22 aims to address the significant gap in financial literacy in South Africa, where a large portion of the population struggles with managing finances effectively.

According to the 2023 FinScope South Africa survey, 24 per cent of South Africans consider themselves financial healthy, while 43 per cent are coping and 33 per cent feel financially vulnerable about their financial knowledge and ability to manage their finances effectively.

The platform

Through its financial fitness platform, Vault22 equips users with professional-grade tools to build, grow as well as protect their wealth. The Vault22 app also features a range of financial wellness features, including:

• Real-time transaction alerts to help users manage spending
• Users can set spending targets and stay accountable
• Track spending and categorise transactions for better understanding
• Opportunities to invest the money saved and grow it for the future
• Access to learning materials designed to enhance users’ net worth
• Automated reminders as well as military grade security measures to facilitate money management
• Vault22 guides users through the most efficient ways to pay off debt

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