Fintech In Nigeria: Procedure For Establishing A Fintech Company In Nigeria
INTRODUCTION Nigeria has the most FinTech unicorns in Africa, with five out of the seven African unicorns being Nigerian companies, and two of three Nigerian unicorns for 2021, being FinTech companies. This is the direct result of many innovative founders who keep creating new approaches for improving financial inclusion and solving the existing problems in financial services. What is a FinTech company and what do these companies do? FinTech means financial technology, and it is used to describe any technology that is deployed to assist financial service providers by automating the use and delivery of financial services. Originally , (i.e., some 20 years ago) it meant the backend technology deployed by established financial institutions. The definition has changed as FinTech services have become more consumer-oriented. FinTech now includes sectors and industries such as retail banking, investment banking, education , fundraising, investment management, non-profits etc. There