Loma Bank has announced plans to leverage Africa’s evolving fintech landscape by focusing on business-to-business (B2B) solutions, as digital finance continues to undergo rapid transformation.
In a statement, the bank highlighted key trends reshaping the fintech ecosystem, including the growing adoption of embedded finance, digital currencies, and open banking. Nigeria’s fintech sector, representing over 40% of all startups in the country, has seen significant growth, with 217 startups recorded in 2023 compared to 144 in 2021.
Co-founder Ayomide Olupitan described embedded finance as a game-changer, enabling businesses in retail, e-commerce, and other sectors to seamlessly integrate financial services into their platforms. “It’s no longer about standalone products offered by banks or fintech. Businesses now want to deliver financial solutions directly within their platforms, creating a frictionless experience for their customers,” Olupitan said, emphasizing Loma Bank’s commitment to providing tailored B2B solutions.
The bank also noted the rising adoption of digital currencies and open banking as drivers of fintech growth. Olupitan predicted that digital currencies would address challenges in cross-border payments, while open banking would foster collaboration between traditional financial institutions and fintech startups, enabling innovative solutions.
“2025 will be a defining year for Africa’s fintech landscape,” Olupitan added. He pointed to regulatory advancements across the continent embracing open banking frameworks, which aim to enhance competition and develop products tailored to local needs.
Loma Bank’s strategic shift toward B2B offerings marks a significant evolution in Africa’s fintech sector, traditionally dominated by consumer-focused services. As embedded finance and digital innovation gain momentum, the bank aims to drive financial inclusion and economic growth across the continent.
