Vault22, the new financial wellness platform has been launched to improve the financial fitness of South Africans and the journey begins with over 200,000 pre-registered and linked account users. The digital solution marks a new era of empowerment for South Africans who are embracing new technology to level up their financial knowledge to make their money work harder for them.

Vault22 is launching in South Africa at a time when economic inequality is stark: IMF data shows the top 20% of the population holds over 68% of the employment income generation in South Africa. This highlights the pressing need for innovative solutions in smart money management and reforms to address the disparity.

According to the 2023 FinScope South Africa survey, 24% of South Africans consider themselves financial healthy, while 43% are coping and 33% feel financially vunerable about their financial knowledge and ability to manage their finances effectively. This reveals a significant gap in financial literacy that Vault22 seeks to address through targeted education and accessible resources.

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