Nigeria, March 23 -- The financial technology space in Nigeria has become quite a competitive subsector in the economy with about 250 companies in the system.

Financial technology is basically an initiative that aims at delivering financial services to consumers - the technologies may include internet, apps, mobile phones and other technological devices.

One of the merits of fintech is its capacity to enhance achieve financial inclusion globally.

These companies offer services such as money transfer, depositing a check with your mobile phone, applying for credits, raising funds for business.

The companies usually have little or no physical presence because the entire banking process is online. Some of these companies use the ajo (thri...