The leveraging of new or improved technology to create innovative financials products and services for retail customers and businesses is revolutionizing the financial services landscape.
Companies operate in various sectors of the highly regulated financial services industry. As Fintech’s continue to grow regulators are left grappling with ways to fit these disruptive technologies within the existing regulatory framework.
The Central Bank of Nigeria’s payment service providers (PSP) guidelines and its financial inclusion strategy, which has led to the passing of the payment service banks regulations has opened a new industry where Fintech’s and PSPs effectively leverage their technologies to grow the financial sector.