Netapps Technologies Limited, a licensed fintech company with a host of innovative solutions, held an exclusive event to unveil its latest suite of products on Wednesday, August 21, 2024. The launch, which attracted a gathering of customers, partners, developers, and industry stakeholders, showcased the company’s commitment to empowering businesses and the broader fintech community through innovation.
Present at the event were several high-profile figures, including Senator Anyim Pius Anyim, Godknows Igali, Permanent Secretary of the Federal Ministry of Power, and Livinus Makwe, a member of the Federal House of Representatives, among other distinguished guests.
Richard Omoniyi, Chairman, Netapps Technologies Limited, set the tone for the event with a speech delivered on his behalf by James Ojodale. He expressed his deep appreciation for the attendees’ continued support and reaffirmed Netapp's unwavering dedication to advancing the financial services industry.
He said, "Our vision at Netapps transcends merely providing payment solutions; we aim to build an ecosystem that is inclusive, accessible, and reliable. With Netapps, you are not just adopting a payment solution; you are forging a partnership with a team committed to your success, growth, and security."
The event’s keynote address and product launch were delivered by Edwin Maduabuchi Okoro, CEO of Netapps, who emphasised the company’s mission to push the boundaries of payment solutions both within Nigeria and on the global stage. "We are here today to unveil a suite of groundbreaking products designed to meet the evolving needs of our customers, partners, and developers," Okoro stated. "As a payment infrastructure company, our mission is to ensure that every transaction—from point A to point B—is executed with seamless precision and robust security."
Netapps is fully licensed by the Central Bank of Nigeria (CBN) as a payment solutions provider, and Okoro revealed that the company is in the process of acquiring additional licenses to broaden its service offerings. He said, "Payments are the lifeblood of our daily lives. Our new products are meticulously tailored for the fintech community, developers, and businesses alike, enabling them to leverage our infrastructure to deliver world-class financial services."
Central to Netapps’ strategy and offerings is a network of prestigious international partnerships, including collaborations with industry giants such as Mastercard, Visa International, American Express, and UnionPay. Okoro highlighted the unparalleled opportunities these partnerships present, noting that companies integrating with Netapp's API gain immediate access to these global services, thereby fuelling their own growth and expansion.
In addition to its international collaborations, Netapps has forged strategic alliances within the Nigerian payment ecosystem, partnering with key players such as Interswitch, eTranzact, and Remita. "These partnerships enable us to facilitate payments across a wide range of sectors, including government agencies," Okoro explained.
Okoro also mentioned that they have struck a unique partnership with Wema Bank and Providus Bank that allows them to help customers and businesses open bank accounts through their platform.
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One of the event’s key highlights was the introduction of NetPos, a payment terminal solution designed to simplify transactions for businesses of all sizes. Netapps also showcased its flagship product, NetappsPay, a platform offering a diverse array of payment channels, ensuring that businesses can provide their customers with convenient and secure payment options in an increasingly complex financial landscape.
The company also launched SwiftPay, an enterprise resource planning workflow system that allows businesses to execute bulk transfers—such as salaries, grants, and giveaways—with a single click.
Another significant product unveiled was KYCInsights, a robust ID verification service that meticulously validates all Know Your Customer (KYC) data, addressing the critical challenges businesses face in verifying customer identities during onboarding, thereby ensuring compliance and minimising fraud risks.
Rounding out the suite of new products was Debt Recovery, an API-based service tailored specifically for credit and loan companies. This innovative solution is designed to streamline the process of recovering bad debt and mitigating overdue loan challenges, offering a much-needed tool for financial institutions.
Looking to the Future
The company announced that they are looking to introduce debit cards in the future and also explore use cases of artificial intelligence in its Netapps Marketplace, driving efficiency and personalisation across its offerings.
Netapps is also actively working towards integrating with more partners and securing additional regulatory approvals to enhance its suite of compliant financial services and also looks to expand into other African countries in the not-so-distant future.
