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Fintech refers to ‘financial technology’ and is the use of technological applications, processes, products and business models to provide financial services in design and delivery. The Lagos Fintech Week (LFW) is an invigorating week of distinct FinTech events that delivers exciting discussions, stimulating demos and insightful debates in Nigeria. This event is opened to start-up, technology company, investor, financial institution, research institute or innovation professional, that want to be part of it. One of the highlight of the event which held on April 23rd to 26th 2019 at the Oriental hotel, Lekki, Lagos with the theme “Fintech: Exploring the Huge Opportunities”, was the Nigerian Fintech award. The event featured various panel sessions with big players in the Nigerian fintech space

The Nigerian FinTech Awards is the most prestigious recognition of excellence for the entire financial technology industry in Nigeria. Over 300 industry leaders gather to celebrate innovation in this dynamic sector. Renmoney, a leading fintech lending company, recently won the award for ‘Innovation in Lending’ at the 2019 edition of the Nigerian Fintech Awards.

Renmoney is a fintech lending company operating under a microfinance banking license in Lagos, Nigeria. It was started in 2012 as RenCredit and later changed its name to Renmoney. The company offers short-term loans as well as deposit and savings account to individuals and small businesses through their website, contact center, agent network and branches. Regulated by the Central Bank of Nigeria (CBN) and insured by the Nigeria Deposit Insurance Corporation (NDIC). Also, the company offers market leading rates on Fixed Deposits and Savings accounts. These products and services the company provides is on the quest to ensure financial inclusion for all people and ensuring easy access to loans with reasonable rates and encouraging savings and investments through their platforms.

With a vision to be Nigeria’s most convenient lending company – delivering outstanding service experiences, the company. The company has provided over NGN 50 billion to over 140,000 customer base. Running on a mission to understand their customers and leverage technology, data and innovation to deliver outstanding service experiences, Renmoney has bagged different awards over its 7 years in existence, some of which are the “Consumer Finance Lender of the Year” award at the 2018 BusinessDay Banking and Financial Institutions (BAFI) award, winning the award for “Women in Innovation” in December 2018, “Consumer Finance Company of the Year” award, and the CEO, Oluwatobi Boshoro recognized as the ‘Woman of the Year: Fintech’ at the Nigeria Finance Innovation Awards in November, 2018.

Speaking on the Lendtech Leaders Panel at the conference, Oluwatobi Boshoro, Renmoney’s CEO, said, “The award is an affirmation of Renmoney’s efforts to continuously seek innovative ways of serving its customers. One of Renmoney’s values is innovation and that is why we leverage on technology in creative ways to ensure we continually meet the expectations of our customers. This award is a testament to the creative and innovative work that everyone on the Renmoney team is doing to ensure that our customers are well served.”

The evolution of the financial services industry is expected to continue for the foreseeable future and Renmoney says it will continue to adapt to the changing environment.

Featured image source: Marketing Space

Lagos Fintech Week

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This article was first published on 10th May 2019


Aanuoluwapo Olajide is a freelance writer who believes that words are fundamental blocks and are the force of life and death. She is a tech enthusiast, fashion designer and a lover of words.

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