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fintech Financial technology has powered great change across the worlds of commerce and industry for over a decade. The transformations that have come in its wake are only continuing and gaining momentum. As the year 2025 unfolds, we’re likely to see an entrenchment of tech in this area, and the emergence of new applications for them. Put simply, the next several months will give us many FinTech trends to watch.
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From a broadening adoption of digital payment systems to an accelerating shift to online banks, we’re going to witness a move towards tech-enabled transactions. Much of this will be fueled by the perception that FinTech delivers efficiency, is convenient, and enables cost-effectiveness for businesses. In this article, we’ll explain some things we’re expecting to happen as more businesses embrace FinTech solutions.

Digital Payments will be More Entrenched

Businesses of all sizes have warmed up to digital payments. From neighborhood stores to large e-commerce platforms, and food vendors to real estate giants, the use of electronic channels to collect fees is becoming ubiquitous. We’re going to see more of this in 2025. It’s probably an irreversible trend and is moving in line with what’s happened elsewhere in the world. So, expect more convenient bill settlements—even if they’re made imperfect by network disruptions.

Buy Now, Pay Later is a Real Option

This is a big deal for many Nigerians, who may not be immediately able to pay for the items they purchase. BNPL allows them to obtain those products and complete payment for them at a future date. It’s sort of a loan to buyers. But it’s also potentially a game changer for local businesses. If they are supported by non-traditional financiers, they could offer BNPL services to customers.
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InsurTech will Appeal to More Businesses

InsurTech has gotten off to a modest but promising start in Nigeria. Many existing platforms in this category provide health insurance. But a growing number are helping with other types of insurance products. Thanks to these companies, businesses are now better able to insure their assets and staff against risks. In 2025, we’ll likely see an uptick in adoptions for InsurTech solutions.

RegTech is Getting Adopted

It’s important that businesses stay on the right side of the law, including with respect to financial matters. RegTech (regulatory technology) can supply solid support for this. At the moment, technologies of this kind are used predominantly by financial institutions for reporting and documentation, monitoring and surveillance, and risk management. It’s only a matter of time before RegTech truly takes off in this corner of the world.

Non-traditional Credit will be All the Rage

With traditional financial institutions being wary of lending to SMEs, digital lenders are now many businesses’ go-to for loans. These startups tend to have less cumbersome loan request processes and can make loans available to approved applicants much quicker. If more of these lenders emerge—particularly those that cater to SMEs –a lot of the smaller businesses will access the funds they need to operate and scale.
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Final Words

We’ve highlighted 5 FinTech trends to watch in 2025. This isn’t an exhaustive list, but it does cover some of the most consequential movements at the intersection of finance and technology. The next several months will reveal the degree to which these fintech trends will impact businesses in Nigeria.
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This article was first published on 10th February 2025
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ikenna-nwachukwu

Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

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