Technophile

Digital piggybank for new-generation savers

Jinoy Jose P | Updated on March 13, 2019 Published on March 13, 2019

Wizely offers flexible, hassle-free savings

If making the millenials to invest in something was an arduous mission, getting the GenX to (even) save seems to be a Herculean task. Now, technology seems to be doing the undoable. There are apps that smartly prompt the new generation to spend wisely and save for a better tomorrow. Wizely, which claims to be India’s first saving app built for the new generation of savers, is one of them. For most new earners, traditional ways of investing or saving is a pain as they don’t want to waste time on queues, filling forms and doing the KYC. Wizely claims to make the process easy and effortless, fun and rewarding, by giving users the freedom to choose how they save and earn benefits in that process.

To cut to the case, this a money saving app, with a difference. It avoids the cacophony of jargons and fineprint and directly takes you to your goals. You can download it from Google Play or App Store and install it on your phone. Synch your mobile with it using an OTP and volia! start saving. You can start saving in small denominations (from Rs 100 onwards) by linking the app to your UPI or bank account. You can set targets (such as , I want to buy a ring for my mother) and start saving accordingly. Based on your wish/target, you will get a partner of sorts (say Flipkart or MakeMyTrip) which will offer you some extra value once you’ve reached your target and when you buy the product or service from the platform.

So basically, Wizely is a digital piggy bank, as they call it. Clearly, the makers have taken cues from behavioural economics and has kept the whole savings affair flexible and tailor-made for the impatient new generation who want to buy products ‘guilt-free’ without taking debt. Wizely has more than 2.6 lakhs registered users across India.

Published on March 13, 2019
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