HENRY OJO is the Business Manager at Kudi, a Y-Combinator backed fintech company in Nigeria. Kudi provides financial services through an agent network of over 100,000 mobile money agents that processes over $1billion in monthly transactions.
Over the years, Henry has built a reputation for scaling technology-driven solutions and contributing significantly to the advancement of digital financial inclusion in Nigeria.
To kick things off, can you tell us how your journey in tech began?
Henry Ojo: That’s a really interesting question. My professional journey took one of the most unusual routes. I studied Plant Physiology and Crop Production at the university, and for a long time, I admired agriculture and even thought about becoming a farmer. However, life took an unexpected turn. Towards the end of my NYSC year in 2019, someone advised me to apply for a role as a customer success associate at a tech startup. I was immediately drawn to it because I was keen to see how it differed from traditional customer service. That opportunity marked the beginning of what has turned out to be a blissful and rewarding career.
In less than a year as a customer success associate, I found myself managing some of our services using tools like Grafana and Heroku, making sure our bill payments and electricity services were stable, and that customers had a seamless experience. From there, I transitioned into product management and eventually took on leadership roles within our sales team. It’s been an incredibly interesting and fulfilling journey, filled with unexpected turns and valuable lessons along the way.
Could you share a bit about your role and how technology is driving financial inclusion in Nigeria through modern POS systems?
Henry Ojo: I currently work as a business manager at Kudi. Kudi is a fintech startup powering Cash in-Cash Out transactions and providing core financial services for millions of Nigerians.
My focus has been on leveraging technology to solve the challenges of financial inclusion in Nigeria. In our country, millions of people remain unbanked or underbanked, and the evolution of Point-of-Sale systems is truly opening up new opportunities for them to access financial services.
How exactly is the new generation of POS technology addressing the problem of financial exclusion?
Henry Ojo: Great question. Traditional banking often requires physical branches and complex processes that many people simply can’t access. Modern POS systems, on the other hand, are designed to be portable, user-friendly, and resilient, even in areas with unstable internet.
They enable small businesses and agents in different communities to offer digital financial services right at the point of sale. Essentially, these devices act as mini-banking hubs that allow people to conduct transactions, transfer funds, and even access credit, all without needing a traditional bank account.
One of the key reasons in which POS devices help underbanked and unbanked people to access financial services is the ability of these POS devices to work in low-bandwidth environments.
This means that even in remote parts of Nigeria, where network issues are common, people can still benefit from digital transactions. I remember meeting an agent in a very rural area in Ondo State, who also operated an Ajo in the community.
She shared how her new POS device allowed her to accept payments digitally for the first time and how it was transforming her business by reducing reliance on cash and lowering the risk of theft, which was quite prevalent in the area and she had been a victim of thrice that same year.
The joy in her face when she shared her experience was nothing like I’d ever seen before.
How do you ensure that agents who aren’t familiar with the use of POS devices and digital apps can comfortably use these POS devices?
Henry Ojo: We’ve built our systems – POS and Apps – with simplicity in mind. It also requires a lot of empathy, patience, listening, and understanding and we bring that to every interaction we have with our agents. We often run hands-on events and demo sessions in local markets and communities where we break down the process in local languages, sometimes through our super agents who are resident in those communities.
What are some of the key technological features that make these POS systems so effective?
Henry Ojo: There are several critical features. First, our devices come with robust encryption and security protocols, ensuring that every transaction is safe. This builds trust among users who may be hesitant about digital financial services. Second, they’re designed to be intuitive, which minimises the learning curve for agents who are most times not technology-averse.
Moreover, integration is a huge plus. These POS systems can interface with mobile wallets, digital lending platforms, and even local payment ecosystems.
This interoperability means that a customer in Ogun state can easily send funds to someone in Kaduna without having to queue at banks.
How do you see the role of Digital Banking Apps and POS devices evolving in the context of financial inclusion in Nigeria?
Henry Ojo: These (PoS) tools are certainly key if we are truly determined to increase access to financial services in Nigeria, especially from an inclusion standpoint. As more people become aware of and comfortable with these tools, we’ll likely see a significant shift in how financial services are delivered all over Nigeria.
