Rova

Rova is a cross-border, multicurrency digital banking app from FCMB Group for Nigerians at home and in the UK diaspora who need to hold, save, send, and receive money in Naira (NGN) and British Pounds (GBP) from one app.

Key capabilities:

• NGN and GBP accounts: NGN accounts are provided by FCMB Microfinance Bank Limited in Nigeria, and GBP accounts by FCMB Bank (UK) Limited, which is authorised by the PRA and regulated by the FCA and PRA
• Savings Vault with fixed tenors of 90, 182, or 365 days, advertised at up to 18% per annum on NGN and up to 4.6% AER on GBP
• Local and cross-border transfers between the UK and Nigeria, plus bill payments on NGN accounts
• Ruby, an in-app AI assistant, alongside in-app chat support

Available on Web, Android, and iOS. Users must be 18 or older; NGN accounts need a BVN and NIN, while GBP accounts need a valid ID and proof of address.

For businesses, ROVA Technologies (an FCMB Group subsidiary) runs a Banking-as-a-Service platform with APIs for wallets, virtual accounts, transfers, bill payments, and Nigerian KYC verification.

It stands out as a bank-backed option for UK to Nigeria remittances and diaspora savings, since both accounts sit with licensed FCMB banking entities rather than a standalone fintech.