HomeInterestingTop 5 Safe Fintech Banks in Nigeria: Why Excellent Bank Ranks First

Top 5 Safe Fintech Banks in Nigeria: Why Excellent Bank Ranks First

Are you interested in learning more about safe Fintech banks in Nigeria?

If you want to know more about the safest fintech banks in Nigeria, this article will give you insights into the fintech industry in Nigeria. Don’t snooze!

Recently, there have been long queues in the banks and many crises in the banking hall due to cash scarcity in Nigeria; there is a need to switch entirely to the online banking system in Nigeria.

Nigerians just want to avoid the four corners of the banking halls.

As a business owner in Nigeria, there is a need to switch to one of these fintech banks that will enhance your business transactions with your customers easily and reliably without stress.

Keep reading!

Top 5 Safe Fintech Banks in Nigeria

1. Excellent Bank

Excellent Bank is the best ethical fintech bank in Nigeria and is thought to be the safest.

Excellent Microfinance Bank Limited was launched in June 2008 and was approved by the Central Bank of Nigeria. Its mission is to cater to the needs of unbanked individuals.

What makes the banks make the list of the top safe Fintech banks in Nigeria is that they have advanced technology for digital banking solutions like online banking, digital payments, and mobile banking, which makes online banking easy and smooth.

With them, you get:

  • Safe, secure, and reliable transactions.
  • Instant transfer without network issues.
  • Customer-centricity

Excellent banks also provide zero card maintenance fees, allow you to withdraw cash at any ATM for free, track your card to your doorsteps, and modify your card at will.

The Bank offers financial products and services to accommodate the needs of their customers, such as personal savings accounts, scholar’s accounts, corporate accounts, Esusu savings, ethical banking, kiddies accounts, ExcellentPay, target accounts, and profit sharing-based investment.

You can easily save, spend, send, and invest money with an excellent bank.

Excellent bank Head Office Is Located in Benue State. There are other physical offices in Lagos, Kano and also planning to open physical offices across all states in Nigeria.

Download the Excellent Bank Mobile App Here

2. Kuda

Kuda Bank is also known as Kuda Technologies. It is a fintech company operating in both Nigeria and the UK.

Kuda is one of the safest fintech banks in Nigeria and the UK, founded to make financial services more easy, accessible, affordable, fast, and reliable for everyone.

It is one of the digital banks in Nigeria that offers free bank accounts with no monthly fees. Kuda digital banking also provides savings, loan, and investment products.

Kuda Digital Bank enables users to open accounts online within minutes and eliminates paper processes as everything is carried out online.

3. Opay

Opay is one of the fastest and safest fintech banks in Nigeria. It was founded in 2018 by Zhou Yahui.

Opay digital banking allows users to pay for utilities, make P2P transfers with zero fees, and save.

Opay digital banking also provides an offline banking service through which users who don’t have smartphones can still carry out transactions.

Opay Digital Bank is committed to deepening financial transactions through technology.

Also, it provides a one-step online-based bank for payments, instant transfers, loans, savings, and other essential services that every individual needs.

With Opay, you can send and receive money, pay bills, and much more.

Opay combines human excellence, expertise, and the technology that every individual needs.

4. Palmpay

PalmPay is an e-wallet and online digital banking platform that offers users financial services through its mobile app.

Palmpay makes it easier for people to pay online by letting them set up accounts, transfer money instantly, pay bills, and get instant access to credit services.

Its charges are minimal compared to those of Nigeria’s traditional banks. You can also become a Palmpay Affiliate Marketer by referring friends and enjoying bonuses once they make their first deposit.

They will receive a welcome bonus when they create an account with Palmpay.

5. Moniepoint

Moniepoint is one of Nigeria’s fastest-growing, most reliable, and safest fintech banks today.

The platform provides mobile financial transactions such as instant transfers, withdrawals, and airtime purchases.

It provides its services with the best networks in town. There is no issue of “no network” in its transactions.

Moniepoint offers an all-in-one digital banking solution that enables last-mile banking service delivery across Nigeria and promotes financial inclusion.

Moniepoint Microfinance Bank Limited was awarded by the Central Bank of Nigeria in 2022 as the most inclusive financial platform in the country.

Moniepoint provides;

  • Open accounts for free
  • No hidden fees
  • You have complete control over your account
  • Round-the-clock business banking support
  • Instant notification
  • Instant dispute resolution whenever you need it.

Why Excellent Bank Ranks First

Excellent bank online services are the best way to handle everyday financial transactions. It provides smooth and convenient digital banking with advanced technology.

With Excellent Bank, you have no issues with the network.

It offers free, instant transfers without any network delay. You can also run a zero account with Excellent Bank.

You can visit any of their physical offices if you have any issues that need physical attention.

These are the various reasons you need to have an account with Excellent bank;

  • Free instant transfer without any network delay
  • Zero account management
  • Request money at will
  • Monitor your saving and spending
  • Open accounts for free
  • Zero card maintenance fees

Frequently asked questions

What is the best Fintech company in Nigeria?

Excellent Bank is the best fintech company in Nigeria. It provides digital financial transaction solutions without any network delay.

How safe is Fintech?

Credible data has shown that larger traditional banks lose more money to hackers than fintech companies.

Cybercriminals find it easy to access traditional banks’ systems because they focus on something other than technology, like Fintech companies.

Fintech banks use technology to improve their digital banking, making them safer than traditional banks.

Is Fintech a threat?

Fintech companies threaten traditional banks because they have taken market share from banks and companies that provide financial transaction services.


We are confident that we provided the premium information necessary in this article to avoid the abnormally long bank queues and many crises in the banking hall due to cash scarcity in Nigeria.

There is a need to switch entirely to the online banking system in Nigeria.

The aforesaid digital banking platforms provide instant transfers, instant digital payments, and mobile banking without network issues.

Nigeria’s fintech banks have grown tremendously over the last decade. Technology has made financial transaction services more safe, reliable, secure, accessible, and efficient.

As mentioned, fintech companies have taken advantage of this opportunity in Nigeria to help consumers and businesses.

You can visit any of their physical offices if you have any issues that need physical attention.

We are a group of niche-specialized writers. We research for first class information and report it on techorganism.com. Most of the articles we display here are on business, technology, investment, banking and any other information we expect to be relevant to this blog.


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