The Banking and Fintech sector in West Africa has been driven by technological evolution, changing customer demand, access to funding, and regulatory support. This has raised the importance of the digital transformation even more crucial for traditional banks with innovation and development of technologies like application package interface (APIs), artificial intelligence, big data, blockchain, and partnerships.

The FinTech sector is one of the biggest start-up sectors across countries like Nigeria and Ghana in West Africa. These companies in West Africa are driving real change for consumers as well as businesses. Over the years, banking in West Africa has improved, however there are still numerous gaps to be filled and a significant portion of the population is still unbanked. This has created an opening that fintechs have been quick to take advantage of, with many stepping up to develop enhanced propositions across the value chain to address pain points in affordable payments, quick loans, and flexible savings and investments, mobile banking, tech development in agency banking, data management, advanced analytics, digital and new delivery platforms.