PalmPay, a leading Africa-focused fintech platform, has emphasized the importance of collaboration and innovation among banks and fintechs to drive financial inclusion in underserved communities.
Speaking at the Nigeria Fintech Forum, Chibuzor Melah, Head of Partnerships at PalmPay, highlighted the company’s success in reaching the unbanked through data-driven insights and collaborative efforts with other financial sector players.
Melah noted that while formal financial inclusion in Nigeria has grown significantly from 56% in 2020 to 64% in 2023, according to the EFInA Access to Finance (A2F) Survey 2023 report, more collaboration is needed to drive financial literacy in the last mile.
PalmPay, which has grown to over 30 million app users since its launch in Nigeria in 2019, offers a range of financial services, including money transfers, bill payments, credit services, and savings, to drive economic empowerment in Africa.
The company’s commitment to collaboration and innovation has enabled it to build trust in open banking and deliver tailor-made solutions to customers, Melah added.
