NIGERIA – Asset and Resource Management (ARM), a Leading Nigerian financial services firm has launched the ARM Sandbox, a new and more efficient way for local fintech startups to scale their integration and customer acquisition plans.
Through this integration, fintech start-ups will have an opportunity to use the ARM platform to expand their services to new markets, leverage the credibility of the ARM brand name, and earn from the management fees paid quarterly by the company.
The company is already active in the Nigerian tech space, having run two editions of the LABS by ARM accelerator designed to support early-stage companies fintechs with access to funding and additional growth support, in partnership with Ventures Platform.
He further noted that the ARM Sandbox will also give fintech startups an opportunity to provide value added services to their clients and improve their customer acquisition strategies.
In 2017, startups focused on financial inclusion in Africa raised 45% of the total startup funding with Nigeria’s Flutterwave alone raising $10 million Series A funding, the largest in the sector for last year.
Despite the innovative products offered by FinTech companies, customers prefer to conduct financial transactions with Nigerian banks.
The brick and mortar banks are still considered safer than FinTech platforms, despite being slower when compared to fintech backed banking solutions.
The ARM Sandbox would thus be a much-needed support for startups, helping them overcome the trust barrier and enhance the customer acquisition abilities which is necessary in achieving growth goals.