What is Seng?
Seng is an App with which people can save money in a group through their smartphone in the near future so they can achieve joint financial goals.
At $€NG or Seng one can save in the following currencies: US Dollar, Euro, Antillean and Aruban Guilders (Florins).
Seng focuses on the countries within the Kingdom of the Netherlands, these are the Netherlands, Aruba, Bonaire, Curaçao, Sint Maarten, Sint Eustatius and Saba. We also focus on Saint Martin, Surinam and Belgium.
How to save with Seng
- Save together with one of the public savings pools.
- Create your own private savings pool and invite your own trusted circle of family members, friends and / or colleagues to join your private savings pool. (Role as Group Moderator)
- Invest in “Eco Shares” that enables ecological development projects AND share in the revenues from these.
Start saving together
Most people struggle to meet their savings and / or personal financial goals. Seng helps to optimize creditworthiness within communities and facilitates with systems necessary to achieve financial goals.
Cashflow, easier to arrange
It is a given that most of us struggle to put money aside for an emergency. With Seng, you can rest assured that your most important purchases can be planned and purchased no matter what.
Build credit now
By participating in one of Seng’s savings pools you can increase your creditworthiness. Building your credit status contributes to your success in future invitations to join “privileged savings pools” and / or applying for personal investments and loans.
How does Seng work?
First, a quick review of how a traditional money pool works. A group of 10 people agree to contribute a fixed amount of money (say $100) on a fixed interval (say monthly). One person is designated as a “Paymaster” who manages the savings pool and keeps it in line to receive the monthly contributions on time. Every time the group pools the money together, one member of the group receives those funds to spend on anything they need. The next month, the same 10 people again make their contribution and the $1,000 is taken by the next member in the circle. This continues until everyone in the group has received their lump sum of money.
Seng mimics this process but digitized in the form of an App that is suitable for Android and iOs (Apple) smartdevice users.
Seng’s App developments are progressing steadily. In the meantime, we are looking for people who want to share their experiences with an informal savings & credit system and / or are interested in it. We have made a poll for this. Would you like to participate in our Poll about saving in groups?
To access our Poll click here.
In return you will receive more information and the opportunity to participate in Seng savingpools.
For those who are already familiar with this informal savings & credit savings system and would like to be put on the list for participation, please fill in this form. This list applies to participants who live in the Kingdom of the Netherlands, Belgium and Surinam.
Do you want to collaborate?
For individuals who are looking for a part-time source of income, we offer the opportunity to join as a Group Moderator. By taking on this role you can create your private savings pool online. Your private savings pool is then automated and can be managed via your mobile phone. You are then responsible for recruiting your own members and for managing this savings pool for as long as it lasts. As a Group Moderator you save with the group. Depending on the number of “savings pools” and the number of members per savings pool and in which currency the deposits are managed, you as a Group Moderator receive a fee for managing. This fee can vary between Euro € 10 – € 900 + as additional income per month in this role. This role can eventually be scaled up from part-time to full-time, which will increase the income. Click here for the registration form for the role of Group Moderator.