Nigeria-based Startup Company, Cudium has launched a cross-border app, built to solve the problem of international payments.
There is no disputing the fact that a lot of Nigerians are faced with challenges in making foreign transactions, most especially remote workers, which affects their day-to-day activities.
Some students of the Obafemi Awolowo University (OAU) have identified the challenges that Nigerians are usually faced with the issue of cross-border payment.
In a bid to solve this problem, they have taken a giant step by launching a financial solution platform Cudium.
This fintech app will ensure that users make safe, easy, fast, and affordable cross-border payments.
Cudium acknowledges that there are a thousand and one fintech solution providers out there, however, Cudium isn’t just a solution provider app, it also serves as a marketplace for the peer-to-peer trading of money ‘fiat’.
Cudium is coming out as the first payment platform with a decentralized marketplace that places the power to negotiate in the hands of the users.
Speaking with journalists at the launching of the startup on September 1st, 2022, the Founder and Chief Executive Officer of Cudium, Adejumobi Abdulrahman disclosed that the app was launched to end the hassle faced by Nigerians in receiving international payment.
In his words;
“we are declaring an end to the struggle and hassle of international money exchange and payments. We have identified this gap and believe no one should be bigger than the market, we are putting this as a stopgap solution.
“This is a declaration that you will be able to send, receive, convert and trade foreign currencies seamlessly as a Nigerian”.
The Chief Marketing Officer, Osungbade Akeem Wizeman projected that the world saw cross-border transactions grow from $29 trillion in 2019 to around $39 trillion in 2022.
“There’s a yearning market and we are glad to be providing this absolute solution, this is a solution, like no other, we are the first ever to do it this way”
The Chief Operations Officer, Idowu Kayode Elvis in his remarks said, “we have a team of seasoned professionals who have studied these multifaceted problems faced by Nigerians in making cross-border payments, we work every day to put an end to this problem and we are glad to be here, we have a whole lot in cover, Cudium is here to make a change”.
It might interest you to know that Obafemi Awolowo University has on countless occasions had students/alumni who have developed innovative start-up companies, as Cudium is just one among many innovative solutions start-ups that have sprung up from students of the great Nigerian University.
The likes of Jobberman, Nairaland, Cowrywise, and Bumpa, some of whom have been leading the African tech ecosystem, have alumni of Obafemi Awolowo University as the founders.
