AI firm eyes Nigerian financial market

Dyna.Ai, an AI-as-a-service company, said it is intensifying its focus on Nigeria’s financial market through strategic partnerships with local banks and fintechs.

The company made this announcement during the recently concluded Nigeria Fintech Week 2024 in Lagos, where it showcased its innovative artificial intelligence solutions aimed at revolutionising the financial industry.

According to a report by McKinsey & Company, the African financial services market is projected to reach a value of $230bn by 2025, with Nigeria emerging as one of the largest fintech hubs on the continent.

The remaining markets outside South Africa are expected to generate $150bn in revenue by the same year. These figures highlight significant growth opportunities for fintech companies in the region.

The Dyna.Ai’s General Manager for the Middle East and Africa, Yasmine Ezz, said, “The Nigerian Fintech Week was a great platform to showcase our innovative AI solutions and connect with industry leaders.”

“We recognise the immense potential for AI to transform the Nigerian financial sector, especially given the anticipated growth of the market.”

The company said it was collaborating with leading Nigerian banks and mobile money operators to develop a diverse range of products, including conversational AI solutions like VoiceGPT, decision engines, and scoring products.

It noted that those solutions were designed to enhance customer satisfaction, improve employee productivity, and streamline operational efficiency, enabling financial institutions to leverage data for smarter decision-making.

“Adopting an AI-first strategy is essential for the future of large enterprises; by leveraging the advanced conversational AI behind the phone and chatbots offered by Dyna.Ai, our clients can significantly enhance their communication and engagement with users,” Ezz stated.