Overview
Brass is a comprehensive digital banking platform specifically designed for Nigerian businesses. The platform provides NDIC-insured business current accounts backed by licensed banks, including Wema Bank and Titan Trust Bank, regulated by the Central Bank of Nigeria. Brass serves small to medium businesses, startups, online merchants, and API-driven companies, offering a complete financial toolkit that enables businesses to send and receive payments, manage expenses, create invoices, and access financial resources through one unified dashboard. The platform is accessible via mobile apps for iOS and Android, as well as a web interface and Slack integration.
Key Features
NDIC-Insured Business Accounts
Fully regulated business current accounts
Payment Processing
Instant, scheduled, and recurring payment capabilities
Invoice Management
Send, receive, and reconcile invoices with tax options
POS Terminal Services
Request and manage POS terminals with instant settlements
Business Capital
Access to business loans with competitive rates
Cross-platform Access
Available on iOS, Android, web, and Slack
Real-time Analytics
Dashboard showing business health and cash flow insights
Team Collaboration
Multi-user access for team financial management
Pros & Cons
Advantages
- NDIC-insured accounts with regulatory backing
- Quick 10-minute account opening process
- Comprehensive business tools in one platform
- Strong integration ecosystem (Slack, QuickBooks, Sage)
- Access to business capital without collateral
Limitations
- Limited to Nigerian businesses only
- Relatively new platform with a limited track record
- Limited international payment options
- Customer support response times vary
- Transaction limits may restrict larger businesses
Security Features
Regulatory Compliance: Operates under Central Bank of Nigeria (CBN) regulation
Deposit Protection: NDIC-insured business accounts
Data Security Measures: Bank-grade encryption for data transmission
Account Security: Multi-factor authentication implemented
Banking Partnership Security: Security infrastructure provided by licensed banking partners
Areas with Limited Public Disclosure: Specific fraud monitoring system details are not extensively disclosed
Pricing & Fees
| Service | Fee | Details |
|---|---|---|
| Account Opening | Free | No setup or maintenance fees |
| Account Maintenance | Free | Zero monthly charges |
| Internal Transfers | Free | Between Brass accounts |
| Bank Transfers | Varies | Standard Nigerian banking rates |
| POS Transactions | Standard rates | Competitive merchant rates |
| Invoice Creation | Free | Unlimited invoice generation |
Getting Started
Detailed Ratings
Final Verdict
Brass offers a solid digital banking solution for Nigerian businesses seeking comprehensive financial management tools. The platform combines regulatory compliance with modern technology, providing essential business banking services through an intuitive interface. While limited geographically and relatively new, its backing by established banks and integration capabilities make it suitable for growing businesses.