Nigeria’s banking technology market in 2027: The shift from digital channels to intelligent infrastructure
New payment rails, richer transaction data and growing integration demands are expected to push banks and fintech companies towards a new generation of modular banking platforms. By 2027, the technology debate in Nigerian banking is likely to move beyond mobile applications. Banks and fintech companies have spent much of the past decade improving the customer […] Nigeria’s banking technology…
Nigeria’s banking technology landscape is poised for a fundamental shift by 2027, moving beyond mobile applications and focusing on modular, intelligent infrastructure. The Central Bank of Nigeria’s Payments System Vision 2028 and the National Payment Stack’s ISO 20022 adoption highlight the growing importance of interoperability, security, inclusion, innovation, and cross-border capabilities.
As banks and fintech firms invest in these advancements, Pavel Shumsky, Velmie’s chief marketing officer, predicts that institutions prioritizing seamless infrastructure integration will outpace competitors. The transition from mobile banking to platform banking reflects a move towards separating customer experiences from underlying systems, allowing for targeted modernization without a costly overhaul.
Richer payment data, enabled by ISO 20022, promises to streamline operations, enhance reconciliation, and bolster fraud detection, provided banks can effectively leverage and integrate this information. Ultimately, the emphasis is on adaptable platforms that maintain reliable core systems while enabling flexible product configuration and digital delivery.
Written by urgent.news from Daily Post Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
