The Head of Strategic Partnerships and Innovation at Bvndle, Oluseye Soyede-Johnson, has stressed the need for fintechs to prioritise customer satisfaction to achieve sustained success.
He stated this while featuring as a panellist at the recently concluded Lagos Start-Up Week.
He emphasised the importance of a customer-centric approach for fintechs to stay ahead in the industry.
Bvndle is a data-driven loyalty platform that empowers businesses to thrive and customers to maximise value.
The panel, which discussed the theme “Digital Disruption: Revolutionising Financial Services’, explored the potential of fintech in sectors, such as healthcare, entertainment, blockchain, and mobile payments.
Soyede-Johnson painted a picture of endless opportunities for fintech in Africa, where innovative solutions could drive financial inclusion, empower individuals, and transform economies.
He stressed that understanding and catering to customer preferences was not just a competitive advantage but a necessity for fintechs to thrive.
“I cannot overemphasise the role of customer preference as an active driver for fintechs. Understanding this enables us to tailor our offerings to meet the needs of users and customers. This way, fintechs can drive higher adoption rates and increase retention,” Soyede-Johnson said.
Other experts who spoke on the panel included the co-founder and CGO of Vendorcredit, Segun Adeyemi; the co-founder of Anchor, Dipo Omobomi; the Senior Product Manager of Paystack, Isoken Aigbomian; and the Regional Sales Manager of Monie Point, Isoken Aigbomian.
Nigeria’s fintech sector is projected by Statista to experience continued strong growth in 2024, with an expected annual growth rate of 22.75 per cent between 2024 and 2027.
While there was a slight decline in fintech VC funding in Africa in 2023 compared to 2022, Nigeria continues to maintain its prominent position among the top four countries in Africa for fintech, according to Afridigest, an African data and research platform.