Online lending platform and fintech company, Kudimoney, has entered the list of 2017 Financial IT Top 50 Digital Banks.
This is coming barely one year after the company had its foothold in Nigeria.
The list is compiled by Financial IT magazine, a leading voice in global FinTech, AI, Digital Banking and Blockchain.
Financial IT recognises the top 50 global pioneers at the intersection of technology and digital banking services by publishing a report highlighting the who is who in the global digital banking industry with a brief introduction of all the companies on the list.
Kudimoney is the only Nigerian company, and one of two African companies to make the list.
FinTech companies are non-traditional financial institutions that are using technology to disrupt the financial sector. They are actively developing new technologies to push for the transformation of the financial services industry and are proactively exploring and adopting advanced technologies(blockchain, machine learning) to increase efficiency in financial services. The selection criteria included an assessment of the overall impact of the digital bank.
In his remark, Founder and Chief Executive Officer of the outfit, Babs Ogundeyi said: â€œWe are delighted to be recognised as a leading pioneer in digital banking. As a result-oriented firm, we are committed to developing a digital platform that ultimately makes banking easier and more affordable for Nigerians and Africans. By running a more efficient system, we are able to offer customers more value for their money, via higher interest rates on savings and deposits and lower interest rates on loans, all with an effortless banking experience.â€
The firm recently launched its online only automatic savings product – a savings account that allows customers to automatically save little (or large) amounts of money on a periodic basis.