E-Financial
Reputation: The Real Currency Powering Fintechs
By John Kokome
In the fast-evolving fintech ecosystem, capital is no longer the only currency that determines success. Increasingly, reputation has emerged as a powerful, if intangible, asset that can accelerate growth, attract investment, and secure customer loyalty, or conversely, trigger rapid decline when mismanaged. In a sector built on trust, speed, and innovation, reputation is not just complementary to business performance; it is foundational.
Fintech, by its very nature, operates at the intersection of finance and technology, two industries where trust is paramount. Traditional financial institutions spent decades, even centuries, building credibility through regulatory compliance, customer relationships, and institutional stability. Fintech startups, however, often attempt to compress this trust-building process into a few years, sometimes even months. This compressed timeline makes reputation both more fragile and more critical.
At the core of fintech’s reputation economy is trust. Users are asked to hand over sensitive personal data, link bank accounts, and transact digitally, often without ever stepping into a physical office. In markets like Nigeria, where scepticism around digital financial services can still linger due to fraud and system inefficiencies, trust becomes even more valuable. A single breach, whether data-related, operational, or ethical, can erode years of goodwill in hours.
Yet, reputation in fintech extends beyond security. It encompasses reliability, transparency, customer experience, and regulatory alignment. Downtime during peak transaction periods, unclear fee structures, or delayed dispute resolution can quickly escalate into reputational crises. Social media has amplified this risk. A dissatisfied customer’s complaint can go viral within minutes, shaping public perception far more rapidly than traditional media ever could.
Conversely, a strong reputation can be a growth multiplier. Fintech companies that consistently deliver seamless user experiences and communicate transparently often benefit from organic word-of-mouth marketing. In a crowded market with low switching costs, users tend to gravitate toward platforms they perceive as dependable. Reputation, in this sense, becomes a competitive moat.
Investors, too, are increasingly factoring reputation into their decision-making. Beyond financial metrics, venture capitalists and institutional investors are scrutinising governance structures, compliance culture, and public perception. A fintech with strong fundamentals but a tainted reputation may struggle to raise capital, while one with a solid reputation can command premium valuations. In this way, reputation directly influences access to funding and long-term sustainability.
Regulators also play a significant role in shaping reputational outcomes. In many emerging markets, regulatory frameworks are still evolving to keep pace with fintech innovation. Companies that proactively engage regulators, adhere to guidelines, and demonstrate a commitment to consumer protection often earn a reputational advantage. On the other hand, those that attempt to bypass regulations or operate in grey areas risk not only sanctions but also public distrust.
Importantly, reputation is not built solely through marketing. While branding and communications are essential, they must be rooted in authentic operational excellence. There is a growing disconnect between perception and reality in some fintech narratives where aggressive marketing promises outpace actual service delivery. In the long run, this gap is unsustainable. Reputation must be earned through consistent performance, not manufactured through messaging.
For fintech companies, managing reputation requires a deliberate, strategic approach. This includes investing in robust cybersecurity infrastructure, maintaining transparent communication channels, prioritising customer support, and embedding compliance into the organisational culture. It also involves proactive crisis management, anticipating potential risks and preparing clear response frameworks before issues arise.
Leadership plays a crucial role in this equation. Founders and executives are often the public face of fintech brands, and their actions, statements, and values significantly influence perception. Ethical leadership, accountability, and responsiveness can strengthen trust, while opacity or defensiveness can quickly damage credibility.
Ultimately, in the fintech ecosystem, reputation functions much like currency; it can be accumulated, spent, and, if mishandled, depleted. Unlike financial capital, it is far more difficult to rebuild once lost. As competition intensifies and the industry matures, fintech companies must recognise that their most valuable asset may not be their technology or funding, but the trust they earn and sustain.
In a world where digital transactions are instantaneous and information travels even faster, reputation is not just a byproduct of success; it is a prerequisite.
John Kokome is the Corporate Communications Manager at FlashChange, a fintech platform redefining secure digital asset exchange. With experience across fintech, cryptocurrency, telecoms, and development communications in Africa. He currently leads strategic storytelling, reputation management, and stakeholder engagement initiatives at the company, focusing on building trust, transparency, and financial literacy in the digital assets space. John’s work sits at the intersection of policy, technology, and public perception, with a strong emphasis on Africa-first narratives and responsible innovation. He has contributed opinion pieces and thought leadership articles on governance, youth empowerment, branding, and Nigeria’s evolving digital economy.
Access Bank Plc has been recognised with two prestigious honours at the 2026 Global Good Governance (3G) Awards, reaffirming its leadership in corporate governance and sustainable community impact.
The Bank received the 3G Community Empowerment Award 2026 and 3G Best Corporate Governance Framework Award 2026
The awards, conferred by Cambridge IFA under the Global Good Governance Awards (3G Awards) platform, are based on rigorous, independent research and evaluation conducted throughout the nomination process.
The award ceremony was held on April 28, 2026, in Singapore, attracting over 300 high-level participants from more than 15 countries, including leaders from government, corporate organisations, and the social and philanthropic sectors. The event celebrated excellence in governance, sustainability, transparency, and social responsibility.
Mr. Eyitayo Olabode represented the Managing Director/Chief Executive Officer, Roosevelt Ogbonna, at the ceremony, receiving the awards on behalf of the Bank.
Commenting on the recognition, Roosevelt Ogbonna, MD/CEO of Access Bank Plc, stated: “This recognition is a validation of Access Bank’s commitment to responsible leadership, strong governance structures, and inclusive growth. At Access Bank, we believe good governance is foundational to building trust, creating shared value, and driving sustainable development across our markets.
“These awards reflect the dedication of our people and our deliberate efforts to empower communities, embed transparency, and ensure accountability in all that we do. We remain committed to setting high standards that deliver long‑term value for our stakeholders and the communities we serve.”
The 2026 programme also featured the Global Good Governance Summit and the launch of the Global Good Governance Report 2026, hosted by Dentons Rodyk, Singapore. Under the theme “AI Governance for the Prosperity of the People and the Planet,” the Summit provided a global platform for dialogue on governance, ethics, and sustainability.
Access Bank’s achievements underscore its consistent efforts to align corporate performance with social impact, reinforcing its commitment to responsible banking and long-term value creation.
Quest Merchant Bank Limited has strengthened its market position following GCR Ratings’ affirmation of the Bank’s national scale issuer ratings of BBB(NG) and A3(NG), alongside an outlook revision to Stable from Rating Watch Negative.
The ratings action marks a significant milestone for Quest Merchant Bank following a transformative period for the institution, reflecting renewed confidence in the Bank’s financial strength, market positioning, liquidity profile and future growth trajectory.
According to GCR, the revised Stable Outlook is anchored on Quest Merchant Bank’s sound risk profile, improved capitalization and strong liquidity, alongside the successful transition of the Bank’s ownership structure following its acquisition by EverQuest LLP after the divestment by FBN Holdings.
The rating agency also highlighted the Bank’s strong presence within Nigeria’s merchant banking sector, where Quest Merchant Bank accounted for c.30% of the sub-sector’s total assets as of 31 December 2025, reinforcing its position as one of the country’s leading merchant banking institutions.
Further strengthening the Bank’s outlook was the successful completion of its ₦42.9 billion capital raise in March 2026 in line with the Central Bank of Nigeria’s revised minimum capital requirements. GCR noted that the capital injection is expected to further enhance the Bank’s capital adequacy position and support the next phase of business growth.
Quest Merchant Bank’s asset quality and liquidity profile also remained key strengths underpinning the ratings affirmation. The Bank maintained a NPL ratio of 3.2%, significantly below the broader banking industry average, while continuing to sustain strong liquidity metrics and resilient earnings performance.
GCR additionally recognised the strategic value of the Bank’s relationship with Custodian Investment Plc, noting the potential for expanded business opportunities, operational synergies and stronger profitability over time.
Commenting on the development, Afolabi Olorode, Ag. Managing Director/CEO, Quest Merchant Bank Limited, said: “This outlook revision is a strong signal of confidence in the future of Quest Merchant Bank and the progress we have made in strengthening our organization over the last year.
“Beyond the ratings action itself, this recognition reflects the resilience of our business, the quality of our balance sheet, and the confidence our clients, partners and stakeholders continue to place in the Bank.
“We have emerged from a defining transition period stronger, well-capitalized and better positioned to capture the opportunities ahead. We remain committed to delivering innovative solutions, creating long-term value and supporting economic growth across the sectors we serve.”
The Stable Outlook reflects GCR’s expectation that Quest Merchant Bank will continue to maintain sound asset quality, stable funding and strong liquidity metrics over the next 12 to 18 months, further reinforcing confidence in the Bank’s long-term strategic direction and operating fundamentals.
National Insurance Commission (NAICOM) has granted an operational licence to CBI Partnering Insurtech Ltd, making it the first fully licensed partnering insurtech company in Nigeria.
An insurtech firm is a company that leverages modern technology—such as artificial intelligence, big data analytics, and the Internet of Things (IoT)—to make the insurance model more efficient.
This is line with Nigeria’s evolving insurance regulatory framework.
Insurtech also streamlines operations like underwriting, risk assessment, and claims management.
According NAICOM, the development reflects its commitment to promoting innovation while maintaining market integrity and protecting policyholders.
In a statement issued on Tuesday, NAICOM said the licence was formally presented to the company during a handover ceremony where the commission reaffirmed its dedication to innovation, regulatory reforms and consumer protection within the insurance industry.
The commission noted that the approval comes amid efforts to modernise the sector through the implementation of the Nigerian Insurance Industry Reform Act 2025 and the introduction of specialised guidelines for insurance technology firms.
“The National Insurance Commission has formally granted an operational licence to CBI Partnering Insurtech Ltd, marking a significant milestone as the first fully licensed Partnering Insurtech company in Nigeria.
“This development underscores NAICOM’s regulatory leadership in fostering innovation within a structured and consumer-focused insurance ecosystem,” the statement read.
Speaking during the ceremony, Mr Ekerete Ola Gam-Ikon, deputy commissioner for Insurance, Finance and Administration, said NAICOM was taking deliberate steps to align Nigeria’s insurance market with global standards.
According to the statement, Ola Gam-Ikon referenced the recent enactment of the Nigerian Insurance Industry Reform Act 2025, alongside the commission’s insurtech guidelines, as critical measures aimed at driving transformation within the industry.
He stated that encouraging innovation within a strong regulatory framework remains one of the commission’s strategic priorities.
The deputy commissioner stressed that the licence was issued subject to strict compliance with regulatory and ethical requirements, adding that innovation must be pursued alongside adequate consumer safeguards.
He further noted that Nigeria’s regulatory approach to insurance technology was attracting growing international recognition, particularly in the use of digital solutions to accelerate insurance penetration and sectoral growth.
Presenting the licence to the company, Ola Gam-Ikon was quoted in the statement as saying, “This milestone reflects the Commission’s commitment to responsibly nurturing innovation across the insurance value chain. We congratulate CBI Partnering Insurtech Ltd and expect full compliance with all applicable regulations.
“This licence carries an obligation to uphold the highest standards of governance and ethical conduct. NAICOM remains committed to supporting the growth of insurtech while protecting the interests of Nigerians.”
The commission explained that the licensing of CBI Partnering Insurtech Ltd demonstrates its readiness to support technology-driven business models capable of expanding access to insurance products while ensuring adherence to regulatory standards.
Responding to the licence approval, Suleiman Olalekan Ajani, managing director, CBI Partnering Insurtech Ltd, commended NAICOM for its regulatory guidance and the rigorous licensing process.
Ajani said the company would leverage the regulatory framework provided by the commission to deepen partnerships and deliver innovative insurance solutions focused on customer protection.
“We are honoured to receive this licence from NAICOM. The Commission’s robust regulatory framework provides the foundation for us to scale strategic partnerships and deliver technology-driven insurance solutions that prioritise consumer trust, transparency, and protection,” he said.
The licensing marks a significant step in NAICOM’s efforts to integrate innovation into Nigeria’s insurance ecosystem while ensuring that emerging technology-based operators remain subject to appropriate governance, compliance and consumer protection standards.
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