Nigerian FinTech Firm Makes top 50 Digital Banks’ List

• Nigerian FinTech Firm Makes top 50 Digital Banks’ List

A Nigerian FinTech company, kudimoney.com, has been selected in the 2017 Financial Information Technology Top 50 Digital Banks’ list.

A statement by the firm said the list was compiled by Financial IT magazine, a voice in global FinTech, Artificial Intelligence, Digital Banking and Blockchain.

According to the firm, Financial IT recognises the top 50 global pioneers at the intersection of technology and digital banking services by publishing a report highlighting the key players in the global digital banking industry with a brief introduction of all the companies on the list.

It said kudimoney was the only Nigerian company and one of the two African companies that made the list.

The firm described FinTech companies as non-traditional financial institutions using technology to disrupt the financial sector by actively developing new technologies to push for the transformation of the financial services industry.

They are proactively exploring and adopting advanced technologies to increase efficiency in financial services, according to the statement.

The firm also said the selection criteria included an assessment of the overall impact of the digital bank.

The Founder and Chief Executive Officer, kudimoney, Babs Ogundeyi, said, “We are delighted to be recognised as a leading pioneer in digital banking.

“At kudimoney, we are committed to developing a digital platform that ultimately makes banking easier and more affordable for Nigerians and Africans. By running a more efficient system, we are able to offer customers more value for their money, via higher interest rates on savings and deposits, and lower interest rates on loans, all with an effortless banking experience.”

He said that the firm recently launched its online only automatic savings product – a savings account allowing people to automatically save little (or large) amounts of money on a periodic basis.

“By mid-2018, Kudimoney will be a full service online only bank, offering spending accounts, savings accounts, transfers and bill payments, as well as loans, all at a significantly better value than traditional players,” Ogundeyi added.