Published - Wed, 25 May 2022

Top FinTech StartUps in Nigeria

Top FinTech StartUps in Nigeria

Financial service delivery is gradually merging with emerging technologies to form the now popular 'financial technology' in Nigeria. Here, we give a detailed overview of FinTech in Nigeria and then discuss the top 10 best FinTech companies in Nigeria in 2022.

Some years ago, FinTech was not a thing or rather, there was a huge gap between financial service delivery and technology. But, today, things are being done differently in the financial sector. Almost every entrepreneur is talking about FinTech.

Check out profiles on LinkedIn; a large percentage would bear headlines like "FinTech Expert". This has got many people asking questions about this terminology. What really is FinTech?

What is FinTech?

Financial technology, also known as FinTech, is an industry made up of different companies that utilize advanced technology to increase financial services' efficiency and effectiveness.

Let's see it this way- FinTech is simply a technical tool that supports financial services and makes the delivery of such services easier.

FinTech companies are businesses that provide financial services to the public using software. These companies, unlike the traditional banking system, are not hindered by factors like legacy operating systems.

FinTech businesses are agile, flexible, have the capacity to bring up innovative ideas and work with experts in the information and technology sphere. Shortly, we would discuss the top 10 best FinTech companies currently operating in Nigeria.

FinTech in Nigeria

Banking in Nigeria has improved over the years. Competition amongst the individual banks has made for more improvements as the banks try to offer their customers the best service.

However, if we are frank, we'd see that there are still gaps yet to be filled. There is still a lot to be done to offer consumers maximum satisfaction with financial service delivery.

A majority of banking service consumers in Nigeria are underserved. For instance, when you get to the rural areas, there is a lack of access to services; even those living in the urban areas can't access some financial services such as loan because of certain rules guiding the banking sector.

Poor user experience has frustrated a lot of people in the country using the banks' financial services.

These and more have created gaps that FinTech companies in Nigeria now seek to fill. The top FinTech companies in Nigeria have taken advantage of the openings to developed better financial tools and services for the masses.

The Fintech sector in Nigeria is still young. However, so far, they have been able to bring up some innovative ideas that have benefited the public, such as addressing issues of unflexible savings, bringing up quick loan strategies and investments, providing online payment gateway and seamless payments, amongst others.

List of top 10 best FinTech companies in Nigeria in 2022

  1. Flutterwave
  2. Paystack
  3. Accelerex
  4. PiggyVest
  5. Paga
  6. Interswitch
  7. E-tranzact
  8. Carbon Paylater
  9. Remita (SystemSpecs)
  10. Kuda Bank

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Financial service delivery is gradually merging with emerging technologies to form the now popular 'financial technology' in Nigeria. Here, we give a detailed overview of FinTech in Nigeria and then discuss the top 10 best FinTech companies in Nigeria in 2022.Some years ago, FinTech was not a thing or rather, there was a huge gap between financial service delivery and technology. But, today, things are being done differently in the financial sector. Almost every entrepreneur is talking about FinTech.Check out profiles on LinkedIn; a large percentage would bear headlines like "FinTech Expert". This has got many people asking questions about this terminology. What really is FinTech?What is FinTech?Financial technology, also known as FinTech, is an industry made up of different companies that utilize advanced technology to increase financial services' efficiency and effectiveness.Let's see it this way- FinTech is simply a technical tool that supports financial services and makes the delivery of such services easier.FinTech companies are businesses that provide financial services to the public using software. These companies, unlike the traditional banking system, are not hindered by factors like legacy operating systems.FinTech businesses are agile, flexible, have the capacity to bring up innovative ideas and work with experts in the information and technology sphere. Shortly, we would discuss the top 10 best FinTech companies currently operating in Nigeria.FinTech in NigeriaBanking in Nigeria has improved over the years. Competition amongst the individual banks has made for more improvements as the banks try to offer their customers the best service.However, if we are frank, we'd see that there are still gaps yet to be filled. There is still a lot to be done to offer consumers maximum satisfaction with financial service delivery.A majority of banking service consumers in Nigeria are underserved. For instance, when you get to the rural areas, there is a lack of access to services; even those living in the urban areas can't access some financial services such as loan because of certain rules guiding the banking sector.Poor user experience has frustrated a lot of people in the country using the banks' financial services.These and more have created gaps that FinTech companies in Nigeria now seek to fill. The top FinTech companies in Nigeria have taken advantage of the openings to developed better financial tools and services for the masses.The Fintech sector in Nigeria is still young. However, so far, they have been able to bring up some innovative ideas that have benefited the public, such as addressing issues of unflexible savings, bringing up quick loan strategies and investments, providing online payment gateway and seamless payments, amongst others.List of top 10 best FinTech companies in Nigeria in 2022FlutterwavePaystackAccelerexPiggyVestPagaInterswitchE-tranzactCarbon PaylaterRemita (SystemSpecs)Kuda Bank

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