Computerized banking is progressing in Nigeria as machinists assign the best hi-tech tools to solve Nigerians’ transaction difficulties and make use of computer-literate personnel.

According to reports coming from Legit. ng, the Central Bank of Nigeria has authorized 10 licensed digital payment platforms to operate microfinance banking and Point of Sale (PoS) services in Nigeria.

The report has it that these banks fall into the proptech ecological system but perform the same objective as the popular banks, which have a bodily existence.

The report claims that according to the CBN database, nearly 894 companies have been authorized as microfinance banks as of February 2023 but only some fully computerized companies can be distinguished as electronic banks.

The report adds that the names of the banks that have acquired licenses from the Central Bank of Nigeria to operate as POS services include Sofri, Mint Piggyvest, VFD, Moniepoint, FairMoney, Carbon, Kuda, Eyowo, and Sparkle.