Photograph — CIO East Africa

Nigerian financial lending company, Renmoney, emerged winner of the 2019 Nigerian Fintech Awards under the “Innovation in Lending” category. The industry player was recognised for its demonstrated commitment towards improving customer experience through the use of information technology.

The award, which is an integral part of the Lagos Fintech Week conference seeks to recognize and reward excellence in the financial technology industry in Nigeria. The latest edition of the Lagos Fintech Week which held in April was themed ‘Fintech: Exploring the Huge Opportunities’. At the event, businesses and people in the fintech sector were celebrated for outstanding achievements.

According to Renmoney’s CEO, Oluwatobi Boshoro, who was on the Lendtech Leaders Panel at the conference, 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 technology in creative ways to ensure we continually meet the expectations of our customers,” he said.

In February 2019, Renmoney introduced a new product to cater to customers who need high amounts of credit- up to N4 million. In its continuous quest to provide convenient lending solutions for Nigerians, the company extended its loan facilities beyond the employed market, to include businesses and individuals who seek credit solutions. Last month, Renmoney shifted its focus to the larger market specifically targeted at driving financial inclusion.

The Nigerian FinTech Awards, which was part of the activities of the Lagos Fintech Week 2019, recognized innovation with the use of information technology in the financial industry as well as those who have contributed to its success. The event featured various panel sessions with big players in the Nigerian fintech space. Renmoney’s Chief Decision Scientist, Dumebi Okwechime was also present at the conference as the moderator for the ‘Big Data’ panel session which explored how big data can play an essential role in the evolution of fintech.

A statement signed by the chairman of the organising committee, Dr. Yele Okeremi indicated that the awards sought to promote the Best Research in Fintech in order to encourage more Fintech companies and technology startups to invest in research as a strategy to deepen product offerings and extend usage beyond our shores.

The Nigerian fintech award is the most prestigious recognition of excellence in the entire financial technology industry in Nigeria. Other award categories include Fintech leader of the year, Female Fintech leader of the year, Fintech Startup of the year, Fintech innovation in biometrics tool/cyber security platform, best Fintech-Bank collaboration of the year and others.

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