Fintech, Banks, and OFIs Urged to Deepen Collaboration for Sustainable Growth

Financial expert, Samuel Olaniran, has stressed the urgent need for stronger collaboration between fintech companies, traditional banks, and Other Financial Institutions (OFIs) to build trust, drive innovation, and foster sustainable growth across Nigeria’s financial sector.

Olaniran noted that the future of finance hinges on a culture of cooperation rather than competition. According to him, closer partnerships will not only strengthen security and promote financial inclusion but also create a more resilient ecosystem capable of meeting the evolving needs of consumers.

“Stronger collaboration between fintechs, banks, and other financial institutions is critical not only to build lasting trust but also to unlock diverse revenue streams, accelerate innovation, and drive sustainable, long-term growth,” he said. Olaniran explained that such synergy would expand access to underserved and unbanked communities, making financial services more equitable and inclusive.

He further emphasized that collaboration would help the sector overcome lingering challenges such as low customer penetration, regulatory bottlenecks, and cyber threats. With coordinated efforts, the industry could improve customer engagement, enhance security, and set the pace for global competitiveness.

As technology continues to transform the financial landscape, Olaniran concluded that cooperation among all stakeholders is no longer optional but necessary. He urged players across the financial ecosystem to embrace partnership-driven strategies to unlock new opportunities, deliver lasting value, and secure long-term success.

Source: Vanguard