Remita Leads Charge at Nigerian Fintech Week 2023 as Key Sponsor

 Remita Payment Services Limited (RPSL), a stalwart in the financial technology (fintech) industry, has yet again demonstrated its unwavering commitment to advancing the sector as a sponsor of the sixth edition of the Nigerian Fintech Week, held recently in Lagos.

Nigeria Fintech Week has earned the reputation of being Africa’s foremost assembly of Fintech pioneers and innovatorsinnovations. . In line with its steadfast commitment to advancing the financial sector, Remita participated in the event as a sponsor and exhibitor, with its Managing Director delivering a keynote address.

At the second day of the programme, ‘Deremi Atanda, the Managing Director of Remita, highlighted the importance of embracing experimentation, fostering a culture of risk tolerance, and viewing failure as a means for rapid learning and innovation in his keynote address titled ‘Fail fast, Learn faster: Embracing failure as a path to success.’

He said, “In our pursuit of innovation, we must understand that success is often paved with failures. Therefore, we must consciously embrace experimentation, liberate ourselves from the constraints of a single framework, and use every setback as a stepping stone to progress. Remita, once a failed project in 2005, now processes over $50 billion and millions of transactions. Indeed, failure is not a hindrance but a steppingstone to progress.”

He added that companies aspiring to achieve significant success within the sector must consistently embrace new opportunities, engage in partnerships with traditional sectors, and accept the uncertainties that come with transformation.

“The evolving fintech landscape is characterised by a growing middle class, digital adoption, and the democratisation of financial services. It is an environment ripe for change, where businesses can redefine themselves and find success by adapting to the evolving needs of their customers.” He added.

Representing Mr John Obaro, the Group Managing Director (GMD) of SystemSpecs Holdings, in a fireside chat session titled “Building Resilience: Insights from Executives,” Mr Ademola Igbalajobi, Managing Director of SystemSpecs Technology Services Limited (STSL), stressed the importance of addressing customer challenges and delivering satisfaction as the key drivers of success for startups in the fintech sector.

He said, “The prevailing emphasis in fintech appears to be on fundraising, often overshadowing the essential steps of achieving customer satisfaction and establishing a strong product-market fit. Drawing from our experience, we advise businesses to prioritise these foundational elements before seeking funding. It is imperative to lay solid product groundwork and dedicate concerted efforts to enhance its quality before venturing into discussions with prospective investors.”

Likewise, Mr Tokunbo Omonubi, Head of Products at Remita, shared valuable insights during a panel session that centred on effective marketing for business growth and expansion. He emphasised the importance of creating products and services that have a real impact on consumers and stakeholders in the diverse business landscape of today.