The fintech industry is at the forefront of global economic transformation, and in Nigeria, it has emerged as a critical driver of financial inclusion, investment, and business expansion. With digital finance expected to play a pivotal role in shaping Africa’s future, fintech is uniquely positioned to contribute to a $1 trillion economy through innovation, strategic partnerships, and regulatory advancements.
At the 6th edition of Fintech Outlook 2025, organized by FinTechNGR, industry leaders and stakeholders came together to discuss the achievements of 2024, analyze emerging trends, and present strategic insights for navigating 2025. The event brought together key players from across the country to explore how fintech can catalyze Nigeria’s economic growth and enhance financial services on a continental scale.
Unlocking Economic Growth Through Fintech
The fintech sector in Nigeria has expanded rapidly, with startups, banks, and regulators leveraging technology to drive financial inclusion and economic development. However, challenges such as regulatory complexities, cybersecurity risks, and access to capital remain significant hurdles to industry-wide growth.
According to Dotun Adekunle, Chief Operating Officer at OPAY, fintech’s role in economic expansion goes beyond payments—it extends to SME empowerment, financial literacy, and investment mobilization. By integrating fintech solutions into critical areas such as insurance, lending, and savings, the sector can stimulate broad-based economic participation.
“For growth to happen, fintech must play a role in expanding financial inclusion, strengthening SMEs, enhancing payment systems, and mobilizing investment and capital.” – Dotun Adekunle, COO, OPAY
To accelerate fintech’s impact on economic growth, experts at the event emphasized the need for collaboration between fintech companies, regulatory agencies, and traditional financial institutions. By bridging these gaps, fintechs can unlock new opportunities and create sustainable financial models for long-term economic stability.
Innovation in Embedded Finance and Financial Services
Embedded finance has become a game-changer for financial accessibility, particularly in the insurance sector. The integration of financial services into non-financial platforms creates seamless experiences for consumers while improving financial literacy and adoption.
Rashidat Adebisi, Chief Client Officer at AXA Mansard Insurance Plc., highlighted the growing demand for embedded insurance and its role in enhancing customer engagement.
“Embedded insurance fosters seamless engagement by integrating financial services with consumer platforms, making access to insurance effortless for users.” – Rashidat Adebisi, AXA Mansard Insurance Plc.
This shift towards “finance everywhere” means that consumers no longer need to seek out financial products separately—they can access them at the point of need through digital platforms, e-commerce channels, and fintech integrations.
For fintech to truly capitalize on embedded finance, there must be a stronger focus on user experience, trust-building, and regulatory alignment to ensure scalability and sustainability in digital financial services.
Cybersecurity and Regulatory Frameworks: Strengthening Trust in Fintech
As fintech adoption grows, so do cybersecurity threats and compliance challenges. Trust is a fundamental pillar in digital finance, and without robust security measures, fintech companies risk customer distrust and regulatory penalties.
Adenike Alli, Head of Products at Pastel Africa, stressed that financial security and cybersecurity awareness must be strengthened to protect users and ensure safe digital transactions.
“The fintech sector must strengthen cybersecurity measures to prevent financial losses and build consumer trust, from grassroots to the top.” – Adenike Alli, Pastel Africa
In addition, regulatory clarity and policy adjustments are necessary to balance innovation with compliance. Olubunmi Abayomi-Olukunle, Partner at Balogun Harold & Co., highlighted the importance of inter-agency collaboration in creating a fintech-friendly regulatory environment.
“To bridge the gap between compliance and innovation, fintech companies must engage in inter-agency collaborations and periodically review policies to improve industry standards.” – Olubunmi Abayomi-Olukunle, Balogun Harold & Co.
A collaborative approach between regulators, fintech operators, and financial institutions will ensure that cybersecurity frameworks are strengthened, compliance is upheld, and financial trust remains intact as the sector continues to expand.
Investment Strategies: Positioning Fintech for Capital Growth
Attracting investment remains a priority for fintechs looking to scale. However, investment-readiness requires more than just an innovative product—it demands clear problem definition, market fit, and execution excellence.
Oti Ilentamhen, Investment Principal at Alitheia, emphasized the importance of identifying and solving real economic problems to attract investment.
“Clearly defining the problem, you aim to solve and executing solutions effectively is an essential strategy for driving fintech growth and economic expansion.” – Oti Ilentamhen, Alitheia
To secure funding and expand operations, fintech startups must focus on:
✔️ Defining clear business models that showcase profitability and scalability
✔️ Strengthening partnerships with investors and regulators for sustainable growth
✔️ Leveraging data analytics to demonstrate impact and market potential
By implementing these strategies, fintech startups can position themselves for funding opportunities and drive long-term success.
Key Recommendations for 2025 and Beyond
- Expand Financial Inclusion
- Fintech solutions should prioritize underserved communities and SMEs.
- Leveraging digital lending and alternative credit scoring can help increase financial participation.
- Enhance Regulatory Collaboration
- More structured engagement between fintechs, regulators, and policymakers is needed.
- Regulatory frameworks should evolve to support financial innovation.
- Prioritize Cybersecurity and Consumer Trust
- Fintech firms must invest in robust cybersecurity infrastructure.
- User education and fraud prevention measures should be scaled.
- Strengthen Embedded Finance & Partnerships
- Companies should integrate financial services into consumer platforms to enhance accessibility.
- Collaboration with insurers, banks, and payment providers will boost financial service adoption.
- Attract Investment Through Market Fit and Scalability
- Startups must clearly define problems and showcase execution excellence.
- Data-driven insights can help fintechs secure funding from investors.
Conclusion
The Fintech Outlook 2025 webinar reinforced fintech’s crucial role in shaping a $1 trillion economy. With financial inclusion, cybersecurity, investment-readiness, and regulatory collaboration at the forefront, fintech companies can unlock new opportunities and redefine Africa’s financial landscape.
As Nigeria’s fintech ecosystem continues to evolve, industry leaders, policymakers, and investors must work together to drive innovation, scale fintech solutions, and create sustainable economic growth.
Next Steps
- Watch the full webinar recording here: https://youtu.be/pc-TFXrBrZc
- Join the FinTechNGR community and stay informed: https://fintechng.org/membership/#become-a-member
For inquiries or further discussions, contact us at: Exec.sec@fintechng.org or call Seun at 09030003013