Fastsusu digitizes the process of a traditional group savings method called a susu. In a susu, a group of people set the amount of cash they each wish to save for the month. This goal amount could range between $1,000-$10,000.
In order to attain this goal, each member agrees to pool their contributions in a pot for one person to collect. Payments are split between the number of people in the group and this process continues every month until each member has a chance to collect the lump sum.
This process makes it easier for each person to save a larger amount of capital by making small payments over time, with the help of others. The idea of micro loans or short term savings loans can alleviate the burden of outside loans with high APR rates.