Aituaz Kola-Oladejo, the Executive Director of Financial Services Innovators (FSI), has declared Nigeria as a rising hub for research and technological innovation. Speaking during a press conference marking FSI’s third anniversary in Lagos, she highlighted the organization’s transformative impact on Nigeria’s technology ecosystem through entrepreneurship, empowerment, and mentorship initiatives.
Driving Innovation in Fintech and Beyond
FSI, a nonprofit organization dedicated to fostering innovation in Nigeria’s technology and financial services sectors, has achieved significant milestones since its inception in 2021.
Kola-Oladejo outlined FSI’s achievements, including its efforts to promote open innovation and expand access to fintech APIs.
“We’ve facilitated access to 16 fintech API partners, including banks, with over 321 API endpoints on the innovation sandbox. This has led to the creation of 125 Minimum Viable Products (MVPs),” she said.
FSI boasts a membership that includes 728 corporate members, 3,438 individual members, and 2,535 student members, alongside hosting over 1,900 participants in nine innovation challenges.
Innovation Challenges and Tech Empowerment
In three years, FSI has organized nine hackathons, addressing financial inclusion challenges in key sectors such as agriculture, transportation, health, trade, commerce, and energy. The organization also plays a pivotal role in fostering an innovative culture across Nigerian universities, with 712 campus ambassadors and three institutions adopting its tech platforms.
“Through these efforts, we’ve awarded over $81,000 to winners of our innovation challenges, enabling them to kickstart their operations as startups,” Kola-Oladejo said.
FSI has also provided 141 free startup clinics, hosted 114 participants in its Business Validation Series, and continues to support youth and startup empowerment, driving the productivity of Nigerian tech products on both national and global scales.
Global Collaboration and Partnerships
FSI’s reach extends beyond Nigeria, with members spanning Africa, Asia, Europe, Central, and North America. The organization has fostered partnerships with key stakeholders, including banks, policymakers, equipment manufacturers, and financial institutions.
“We’ve brought together diverse players in the tech ecosystem to promote collaboration and innovative solutions,” Kola-Oladejo explained.
Building a Sustainable Tech Ecosystem
As Nigeria cements its place as a hub for research and innovation, FSI’s efforts underscore the transformative potential of technology. Kola-Oladejo called for continued investment in tech-driven solutions that address Nigeria’s unique challenges, particularly in financial inclusion and economic development.
“Our mission is to bridge gaps in the tech ecosystem, leveraging technology to provide end-to-end solutions for startups and businesses,” she concluded.
With initiatives like FSI leading the charge, Nigeria is poised to harness its potential as a leader in technology and innovation, creating opportunities for sustainable development and economic growth.
