Top 10 Fintech Firms In Nigeria 2022

FinTech companies, short for financial technology companies, deploy new technological trends to facilitate financial services delivery. Just like the manual banking we are used to, FinTech is about using modern digital technology to develop, transform and integrate businesses for consumers.

Nowadays, FinTech companies seem to be competing with banks in terms of access to financial services. Unlike the traditional banking, they do not have strict requirements for engaging customers, which makes it easier to obtain funding and financial services through mobile and web-based platforms.

Consumers  would naturally prefer fin-tech because of how easier, faster and  more accessible they have made financial services by reforming complex processes. The nexus between a fin-tech firm and a bank is that they both strive to offer smooth financial services in providing loans, making payment easier and money transfers.

Below are top 10 Fintech companies in Nigeria:

Flutter wave: Flutter wave is a Nigerian fintech company that provides a payment infrastructure for global merchants and payment service providers across Africa. Their system allows users to create virtual dollar cards in order to pay for things online, as well as creating free online stores.  It is one of the most reliable and trusted payment partners for a lot of Nigerian businesses.

Piggy vest: is another well known online savings & investment platform in Nigeria. It is recognised as the first online “Savings & Investment” app in West Africa. It has different saving and investment options that are suitable for different needs. You can save occasionally and make a decision that anytime you spend money from your account, an amount of your choice automatically gets saved on Piggy vest. It is a safe and legit platform for saving and investing in Nigeria.

Kuda Bank: also known as Kuda Technologies, is a FinTech company operating in Nigeria and the UK. It is one of the best and easiest fintech companies in Nigeria in 2022. Unlike the traditional banks, consumers don’t have to deal with the charges, transaction and ATM maintenance fee. To crown it all, deposit fees are free.

Remita: is one of Nigeria’s top online payment firms that helps both individuals and companies make payments and also manage their finances in multiple banks. It serves as Nigerian government’s Treasury Single Account (TSA) backbone. As a fully functional payment platform for individuals and organisations, Remita has significantly assisted in revolutionising the e-payment industry in Nigeria.

Opay: is a one-stop mobile-based platform for payments, loans, savings and other essential services for every individual. As a fintech firm, it offers range of services. Currently, it serves as a mobile money payment service in Nigeria that lets anyone pay bills, transfer and receive money, access loans as well as easily save on the mobile wallet.

NowNow: This is one of the latest fintech companies in Nigeria with a digital app that allows individuals to send, receive money and pay bills. The platform also have NowNow MasterCard that comes with cash back, discounts, perks and rewards. It also offers an agent platform that enables additional streams of revenue for individuals.

Interswitch: is one of Nigeria’s pioneer payments company also powering the digital payment ecosystem in Africa. It is a commerce company with integrated digital payment system and focuses on businesses in Africa. It is one of the oldest fintech companies in Nigeria. It is an electronic payments processing company that builds and manages payment infrastructure as well as delivering innovative payment products and transactional services throughout the African continent.

Paystack: this company currently positions itself as a growth engine for innovative companies and Creative in Africa. With Paystack, your business can complete payment from clients using Visa cards, Verve cards or MasterCards from any part of the world. The Paystack online payment gateway enables users to receive payments using invoices and creating payment pages.

Pay My Rent: this FinTech company provides loan facility for the purpose of house rent payment. However, the amount that can be actually borrowed largely depends on customer’s monthly salary. Approval takes less than 24 hours. After much review and approval, the customer is credited in 48 hours.

Now the FinTech industries in Nigeria are doing positively well; and it brought us to the possibility of not having a traditional bank; since everything is now done virtually.

Because of them, individuals have gotten more access to their account, and having to stress themselves in a queue or rather complaining without being attended to. It deepens financial inclusion.