An Analysis of Fintech Companies In Nigeria | StarInsights eKomi

StarInsights Fintech


No one would have predicted that fintech solutions would be so universally accepted just a few decades ago, but here we are, fintech has gone mainstream and is no longer a niche sector. Meanwhile, the rise in popularity of fintech, means that more people than ever can make life-changing money moves with a mobile device in their pockets.

Even though the stakes are quite high, fintech firms have a real chance to change how consumers interact with the global economy. Customers need to believe they can rely on an app (and, in a larger sense, the entire team) to deliver a positive experience, protect their money, and assist them in getting the results they want.

Client support, as well as overall online customer experiences, are crucial in this situation. With plenty of fintech companies emerging, it’s not always easy to know what to expect, let alone know which fintech company to choose. 

This StarInsights report examines Fintech companies in Nigeria based on publicly released results from Google Seller Ratings and its aggregated system of ratings and reviews; to find out how providing excellent customer service may increase your bottom line and foster confidence between fintech businesses and their clients.

Industry Overview

Generally, software, mobile applications, and other technologies designed to enhance and automate conventional forms of finance for both corporations and individuals collectively fall under the umbrella term of “financial technology,” or fintech.

The fintech ecosystem in Nigeria is largely comprised of businesses focused on mobile payments, digital banking, merchant solutions, and personal finance, including wealth tech. Therefore, the purpose of fintech firms, both established and start-up, is to streamline financial procedures and boost automation in the financial services industry and as such, Nigeria is now home to more than 250 fintech companies and products. 

At the same time, the rise in popularity of financial technology solutions (fintech), means that more people than ever can make life-changing money moves with a tiny computer in their pockets. The increased use of mobile technology among the public, and particularly among the unbanked, has resulted in a move away from traditional banking transactions.

Fintech companies strive to change the public perception of financial institutions, and most of them have been working ever since to build this reputation. But despite that, today most people still put their fate in the hands of banks and shy away from new fintech apps and websites.

This means that fintech as a whole is always reinventing the customer experience. They should continue to put a lot of effort into comprehending what their consumers are saying or implying as the financial world continues to change. Consequently, fintech companies need to invest in tools that improve brand reputation and then present good ratings and reviews to persuade people to abandon the well-known brands they are accustomed to.

Prior to product innovation, customer experience is thought to be the key difference for new brands. This is because positive reviews encourage new people to sign up, which in turn makes happy consumers feel good about themselves. This increases the fintech’s investment potential, which in turn funds feature upgrades that attract additional users and get them to give the service excellent ratings.

Top-rated fintech company in Nigeria

Fintech company


Number of Reviews

eTranzact International 4.2 22
VoguePay International 4.1 72
Paga 4.0 213
Interswitch 4.0 102
Remita 4.0 5
Paystack Payments Limited 3.9 390
Flutterwave – Payment Gateways 3.9 218
PiggyVest 3.7 122
getcarbon 3.5 42
Kuda 2.9 297

Most reviewed fintech company in Nigeria

Fintech company

Number of Reviews


Paystack Payments Limited 390 3.9
Kuda 297 2.9
Flutterwave – Payment Gateways 218 3.9
Paga 213 4.0
PiggyVest 122 3.7
Interswitch 102 4.0
VoguePay International 72 4.1
getcarbon 42 3.5
eTranzact International 22 4.2
Remita 5 4.0

With a rating of 4.2 stars, eTranzact International is top of our list. Followed by VoguePay International with 4.1 stars, while Paga, Interswitch, and Remita are tied in third place sharing a 4.0-star rating. Each fintech firm had mostly positive ratings on the quality of their services, staff, and technical support.

Paystack Payments Limited is our most reviewed fintech firm service with 390 reviews. It is hailed as a top service provider with wonderful staff. With 297 reviews Kuda Finance is second on our list and in third place, Flutterwave – Payment Gateways is hailed for its efficient work ethic and friendly personnel with 218 reviews.

Ratings and reviews are critical to the importance of a business and increase customer satisfaction and sales in the long run. eKomi understands the importance of ranking, which is why we have completed our StarInsights rating as a list of the highest-rated fintech companies in Nigeria.

In 3 months, please check out eKomi’s blog to read our follow-up assessment on which Fintech company will be the best and most rated in Nigeria.

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