Financial technology is also known as Fintech, it is an industry that comprises diverse companies that take advantage of advanced technologies to increase the effectiveness and efficiency of financial services.
FinTech companies are businesses that supply financial services to the populace with the use of software.
Unlike traditional banking systems, these companies are not restricted by common factors such as old performance or operating systems.
Businesses that classified under this industry are flexible and rapid.
They possess the ability to steer up innovative ideas as well as work with professionals in data and technology.
What is Fintech?
It is simply any technological tool that aids financial services also ensuring that the delivery of the services is easier and with convenience.
Over the years Nigeria has grown in the Fintech industry which has led to the establishment of many companies. The best of them are:
This company was established in 2015, it rides with the ideology that even if it is tough to erect a business, then acquiring finance should not be difficult.
It is a dominant and growing Fintech company in Nigeria.
Paystack ensures that the online payment process is easy, consistent, and reliable for businesses as well as consumers.
The Paystack online payment portal enables all users to receive payments through invoices and by the creation of payment pages.
With this company, your business can settle payments from clients with the use of Verve cards, Visa cards, and Mastercard from all parts of the world.
NB: This feature makes it one of the best Fintech companies in Nigeria.
However, some of its clients are MTN, Taxify, Domino, and many more.
Flutterwave ranked as one of the top Fintech companies in Nigeria that thrive to help its customer receive, send money, and also pay bills.
In addition, the company has collaborated with over 40 banks across nations in Africa and successfully processed many transactions.
This company developed an app and also developed two other apps named: Rave and Barter
However, they operate in about 20 other countries asides from Nigeria.
This Fintech Company is a Nigerian-based Fintech company that allows you to save and also invest money.
It is one of the best platforms used for saving. With this company, you enjoy the privilege of saving money with an interest rate increase from that which traditional banks offer.
PiggyVest enables multiple saving plans. However, you can choose to utilize the PiggyBank feature on the platform, which allows you to set the amount of money you prefer to save daily automatically.
Then the amount chosen by you will automatically be debited from your account at every agreed time and get saved in PiggyVest until it is due time for withdrawal. You withdraw with the stated interest.
Safelock feature is another unique that enables you to fix funds and secure them up for a stipulated period.
NB: you can only withdraw the money when it has matured.
PiggyVest has more features like the ‘earn interest’ option, Flex Dollar which allows you to save in dollar currency and also transfer dollars to anyone on PiggyVest.
This is a Quickteller founded in 2002, making sure the owner provides online payment portals and solutions.
In this company, online buyers have gained tremendously from their services.
Some financial products enabled by Interswitch are point-of-sale terminals Verve, online consumer payment platforms, and its own ATM card.
Interswitch is a trading company that has combined digital payments as well as a focus on businesses in Africa.
It is regarded as one of the mature Fintech companies in Nigeria.
This Fintech Company also owns verve debit cards, Smartgov, Retailpay, and multiple automated teller machines (ATMs) all over the country.
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