An IT professional and Managing Partner, Lifted Technologies, Tayo Sotade has said that Fintech companies are transforming the way Nigerians access and use financial services, and this is having a profound impact on the economy as a whole.
In a report on the operations of the industry, he said that Fintech operations have brightened the future of financial services in Nigeria, adding that Nigerian fintech companies have what it takes to continue driving innovation in this space.
“One of the key advantages of fintech is the ability to provide financial services to those who were previously excluded from the traditional banking system. This is particularly important in Nigeria, where a large percentage of the population is unbanked. Fintech companies such as Paystack, Flutterwave, and Interswitch are making it easier for Nigerians to access digital payments, loans, and other financial services,” he said.
Sotade, listed another area of innovation in Fintech as the use of blockchain technology to create secure and transparent financial systems.
“Blockchain enables secure, tamper-proof record-keeping, and this has the potential to revolutionize the way financial transactions are conducted. Nigerian fintech startups such as SureRemit and BuyCoins are using blockchain technology to create innovative solutions that enable fast and secure payments and transfers,” he said.
According to him, Fintech remains the future of financial services in Nigeria.
“As more and more Nigerians gain access to digital payments, loans, and other financial services, the economy will become more dynamic and inclusive. With my certifications in project management, network engineering, and cybersecurity, I am excited to be a part of this transformation.
Cybersecurity in Fintech: Ensuring the Safety of Financial Data
As an IT professional with certifications in cybersecurity, I am keenly aware of the importance of keeping financial data safe and secure. Fintech companies are handling sensitive financial data on a daily basis, and this data must be protected from cyber threats such as hacking, phishing, and malware attacks,” he said.
“At Lifted Technologies, we take cybersecurity very seriously. We invest in the latest security technologies and protocols, and we conduct regular security audits and assessments to ensure that our systems are secure. We also educate our clients and customers about cybersecurity best practices, such as using strong passwords and keeping software up to date,” he said.
“In addition, our certifications in cybersecurity enable us to stay up to date with the latest trends and best practices in this space. This enables us to build and deploy fintech solutions that are secure and reliable, and that instill confidence in our clients and customers. Overall, cybersecurity is critical in fintech. As more and more Nigerians turn to digital payments and other fintech solutions, it is essential that their financial data is protected from cyber threats. With our certifications in cybersecurity, Lifted Technologies is well-equipped to meet this challenge,” he said.
