Finnova corp

Finnova Financial Technology Limited is a pioneering Nigerian fintech startup revolutionizing the way millions access banking services through its innovative AI-powered WhatsApp banking platform. Founded in 2022 by Julius Olaolu Oyekanmi during the COVID-19 lockdown, Finnova recognized that with over 51 million WhatsApp users in Nigeria (95.1% of the online population), the messaging app presented a unique opportunity to bridge the gap between traditional banking and financial inclusion. By leveraging conversational AI and natural language processing, Finnova enables users to perform comprehensive banking operations directly within WhatsApp—eliminating the need to download multiple banking apps or navigate complex interfaces.

The company’s flagship product, the Finnova chatbot (Quidbot), provides users with seamless access to a wide range of financial services including money transfers, bill payments, airtime purchases, balance inquiries, loan applications, and escrow services. What sets Finnova apart is its integration with a CBN-licensed wallet provider, allowing users without existing bank accounts to receive a new account number linked to their BVN. This innovative approach particularly targets Nigerians who have been excluded from traditional banking due to low digital literacy, poor customer service experiences, or geographical barriers. The platform supports both text and voice commands, making it accessible to users across different literacy levels and technical capabilities.

Since its official launch in November 2023, Finnova has demonstrated impressive growth and market traction. The startup has successfully onboarded over 7,000 organic users on its consumer platform and processed more than ₦100 million in transactions. Beyond its B2C offering, Finnova has expanded into the B2B space, providing white-label solutions for microfinance banks, fintechs, and insurance companies looking to automate customer service and transaction processing. With partnerships established with three financial institutions and 16 companies onboarded to its business channel, Finnova is positioning itself as Africa’s leading conversational banking platform, making financial services as simple as sending a WhatsApp message.