Nigeria’ leading Fintech Startup,VoguePay, is set to launch its border-less financial services, to offer Diaspora and experts, a better way of carrying out financial transactions, without the traditional bank red tapezism.
In a chat with the company’s CEO, we explored what that means, for Fintech, in Africa.
Michael Simeon, the CEO of VoguePay, told me in a recent interview that, the company is aggressive for growth, beyond its current offices in UK, Estonia, Bahrain and soon-to-be-launched, Canada operations.
One of the initiatives, fuelling this expansion drive, is clearly its digital banking product.
From its simple ambition, as a payment aggregator in 2012, VoguePay has evolved its products, to match the needs of the market.
The company recognized that, for entrepreneurs and migrants, there is a clear case, for a solution that enables them to send and receive money, all around the world.
For example, instead of passing through the time-consuming process of converting your money to the U.S Dollar and then, converting it to the currency of the country that you are making the payment.
VoguePay clears these red-tapes and gives you clear access, to make the payment directly, with your local currency.
For VoguePay, or, any Fintech, to achieve this, there has to be proactive regulations to empower Fintechs to launch bank-grade financial products.
Michael told me that, his company has been in talks, with financial regulators and partners, to design the standards for cross-border financial services, starting with Nigeria.
This is a novel feat in the Fintech sector, that is further going to ease the way we do business and make payments.
This feat by VoguePay, also goes a long way, in showcasing to the international community, that, in spite of the various issues that we have, as a country, good things of value, can still come out of Nigeria, that are worthy of emulation and being replicated in the international arena.