In this Digital times, there is no better way to carry out financial services if not through technology. As the world is technologically advancing, so are industries advancing. One of such companies that are waxing strong with the implementation of technology in their mode of rendering services is the financial sector.
Fintech refers to the use of technology in carrying out financial services. It is a smarter way of coordinating financial activities.
The major reasons for implementation of technology into financial services is to be able to provide safe, secured, fast and reliable financial services to customers. As far as technology is concerned, financial services become easier and smarter.
In Nigeria today, there are a lot of Fintech companies that exist with the common aim of making financial services a lot easier and better.
Before the inception of Fintech, financial services has not been any better, as customers do not feel any better since majority of the financial dealings are prone to fraud due to poor security.
In this article, I'm going to be outlining 5 of the Valuable Fintech companies in Nigeria and there mode of operations.
1. Flutter wave
FlutterWave is one of the popular Fintech companies in Nigeria. No matter how remote your area is, you must have probably come across Flutterwave since their services are almost everywhere all over the world.
Ok, let's assume you haven't heard about this company, that is why we are talking about it now.
Flutterwave is a payment startup by Andela and co-founder Iyin Aboyeji. Flutter-wave completes payment services from more than 68 online payment gateways in Nigeria. These payment services include mobile money . The service is presently active and can receive and send money in more than 30 African nations.
Flutterwave provides technology, infrastructure and services to allow global merchants, payment service providers and Pan African banks to acknowledge and process payments on any channel (Web, Mobile, ATM and POS).
As a matter of fact, their POS service in Nigeria is second to none. They help organizations in Africa go global by smoothening the exchange of funds in 150+ monetary standards.
2. Piggyvest
This is a platform basically for online savings. The platform encouraged users to save money that they might not be in a hurry to use.
Piggyvest platform encourages the system of savings for a stipulated period of time unlike the regular banks where customers can have access to their savings anytime.
3. E-tranzact
Etranzact is one of the Fintech companies in Nigeria. This platform was established in 2003, and since the creation of this platform , it has been playing multiple roles ranging from an electronic payment platform supporting all the functional networks such as AMEX, VISA, and MasterCard.
All the activities of this company are electronically based.
4. Remita
This one is a very essential platform in Nigeria today. This is due to the fact that a lot of government bodies make use for their services on almost daily basis.
Remitta has been voted severally as Nigerias software of the year. If you ask me, I would say, this one makes way for other softwares in Nigeria to follow.
Their service is majorly to help organizations (SMEs, Multinationals, State Governments, Government Agencies, NGOs, Schools and Educational Institutions and Individuals to Receive and Make payments electronically.
The Fintech company known as Remitta today was made possible by SystemSpecs.
If there is no company that runs effectively in Nigeria, thenRemita is one that does well in their services. Systemspecs was founded in 1991 by one John Obaro.
5. Kuda Bank
Kuda Bank is continuously waxing strong in their financial technology based services. As a matter of fact, they have made it to the list of too Fintech companies in Nigeria.
Everything about kuda bank is completely digital. All you need is computer device or an Android to set your account up in a minute.
Kuda Bank makes their services convenient and cost effective compared most financial institutions in Nigeria.
Even though their services are online based, you will still get the opportunity to have a customized Verve of Mastercard ATM card, no atm maintenance fees, no transfer fees to other banks, free deposits, and even more.
There are whole lot of Benefits of Using Kuda Bank which includes;
Debit card delivery to your wherever you are at absolutely no cost.
Helps you in smart budgets to help you take control of your spending.
You will be able to Withdraw cash for payments free of charge at over 3,000 ATMs.
25 free transfer to other banks every month.
Flutterwave is really one of the leading Fintech companies and they've really gained ground in Nigeria. I currently applied for their internship program for my NYSC and duly hope to be considered. Going global financially is a priority now.