The recently concluded intensive 8-week online programme, trained 100 university students, emerging innovators, and tech enthusiasts.

Participants were equipped with critical software testing skills, preparing them to play pivotal roles in maintaining the quality and security of software products.

The programme was implemented through the Fintech Development and Advocacy Initiative arm of FSI, a platform dedicated to facilitating financial services innovation in Nigeria.

The Software Testing Programme aims to bridge the gap between academia and the financial services industry by offering hands-on, practical training tailored to market demands.

Speaking on the partnership and success of the programme, Muyiwa Asagba, Managing Director, Digital Commerce and Merchant Acquiring (Interswitch Inclusio) said:

“Innovation thrives when young minds are given the tools to succeed, and Interswitch is proud to sponsor this initiative, which aligns with our vision of nurturing a digitally inclusive future. By investing in these talents and providing them with practical, industry-relevant skills in software testing, we are not just enhancing the software testing ecosystem but also nurturing a generation of innovators who will shape the future of financial services in Nigeria and beyond. Initiatives like this reaffirm our commitment to promoting a digitally inclusive society while positioning Interswitch as a catalyst for innovation across Africa.”

Participants gained practical expertise in software quality assurance, addressing critical industry needs while bolstering their readiness for Nigeria’s burgeoning technology landscape. A standout feature of the programme was the recognition of top-performing participants, five of whom secured internship opportunities, giving them invaluable real-world experience and a head start in their careers.

Aituaz Kola-Oladejo, executive director, Financial Services Innovators (FSI), highlighted the programme’s transformation impact.

She said:

“We are thrilled to announce the successful completion of our 8-week Fundamentals of Software Testing course, which empowered 100 youths, 90% of whom are students in tertiary institutions. This training underscores our unwavering commitment to youth empowerment through education and skills development. Our goal is to equip young people with the knowledge and tools they need to thrive in future technology-driven careers, enhancing their employability and positioning them as globally competitive professionals. We extend our heartfelt gratitude to Interswitch for sponsoring this 3rd Cohort. Their support reflects a strong commitment to advancing technology ecosystem initiatives that drive national progress and innovation.”

By championing initiatives like the Intensive Software Testing Programme, Interswitch reinforces its position as a leader in driving technological advancement and empowering the next generation of African innovators.

This collaboration not only strengthens the company’s reputation as a catalyst for innovation but also fosters goodwill and loyalty within the tech ecosystem, paving the way for sustainable growth in Nigeria’s financial services landscape.

She disclosed this at a media parley heralding the 3rd anniversary of the organisation in Lagos during the week.

According to the executive director, of FSI, a non-profit organisation committed to enabling startups within the technology and financial space, in its three years of operations, the company has had both direct and indirect impacts on the nation’s technology ecosystem through empowerment, entrepreneurship and mentorship.

Reeling out the company’s numerous achievements since its launch in 2021, Kola-Oladejo said: “Our achievements include the promotion of open innovation amongst top players in the tech ecosystem and enhancement of access to Fintech APIs. So far, 16 Fintech API partners including banks already have 321 API end-points on the innovations sandbox, while 125 Minimum Viable Products (MVPs) have been created from the sandbox. With 728 corporate members, 3,438 individual members, 2,535 student members and over 1,900 participants in nine innovation challenges, FSI has indeed come a long way.”

In the past three years, FSI had organised nine hackathons aimed at addressing financial inclusion challenges in agriculture, transportation, health, trade and commerce, as well as energy. Also, the Non Profit Organisation, which has members drawn from Africa, Asia, Europe, Central and North America, played a leading role in the promotion of innovative culture in tertiary institutions across Nigeria.

“Right now, FSI has 2,535 student members, 712 campus ambassadors since its launch in 2021, while three universities have shown interest in adopting the FSI platform for tech innovation,” Kola-Oladejo explained, adding, “FSI has offered 141 free start-up clinics, had 114 participants in our Business Validation series, while $81,000 US Dollars was awarded winners of our innovation challenges to commence operations as start-ups. On both national and global scales, FSI has facilitated productivity through youth and startup empowerment, and enhancement of Nigerian tech products.”

The signing of the agreement was witnessed by representatives and members of FintechNGR CIBN, and FSI, at the Bankers House, Victoria Island, on Thursday, September 1, in Lagos.

The Fintech Certification Programme is intended to sharpen the minds and raise awareness of industry players about the importance of leveraging technology for financial inclusion and growth.

Dr Ken Opara said the alliance was a unique one in the annals of the Institute, “First, this is the first time the institute is collaborating with two partners at once for the provision of a certification.

“Second, this is the first collaboration agreement to be executed during my tenure.

“Third, this initiative is a further step towards the realisation of the mandate of the institute to promote professionalism, whilst enhancing knowledge and competencies in the financial services ecosystem,” he said.

Opara said the role of the Institute was to be the bridge that would engender a positive handshake among all the players (banks, fintechs, and other financial agents) in the financial services industry.

This, he said, would be done through capacity-building programmes, training, content development, advocacy and sound corporate governance policies.

The CIBN president also said his administration would be built on six strategic pillars with the acronym FUTURE.

According to him, the first pillar with the alphabet ‘F’ is Financial Innovation and Transformation.

He said, “under this pillar, we plan to among others, institutionalise Fintech Certification in collaboration with other credible bodies to sharpen the minds and awareness of industry players in optimising technology for financial inclusion and growth.

I am extremely delighted that three months after mounting the saddle of leadership of the Institute, we are taking sure steps towards the achievement of this objective.

Under this Agreement, the three institutions have come together to award Fintech Certification, which offers an excellent opportunity to bridge the tech talent gap and indeed further drive the implementation of the Competency Framework in the banking and finance industry in Nigeria.

Opara appreciated the Bankers Committee and the Central Bank of Nigeria for appointing the institute as the Accreditation Agency for the implementation of the Competency Framework.

He said the institute would not take the appointment for granted, expressing its determination to make a success of the assignment, which would lead not only to more knowledgeable professionals but improved service delivery.

Mr Ade Bajomo, President of FintechNGR, said the partnership was a historic moment for FintechNGR.

“If we cast our minds back a few years, people wondered whether the FinTech disruption would be absolute and traditional banking would become a thing of the past.

Instead, we are experiencing a synergised world of financial services where both Fintech companies and banks not only co-exist but also co-compete and share knowledge. Of course, there will be banks that will be more successful because they’re agile, and there will be Fintechs that will be more successful because of the vast opportunities available for them to tap into. All in all, it would be most essential to develop capacity and capability,” he said.

Bajomo said that banking as a profession was well regulated with strong compliance, a strong culture of capacity building, and knowledge building among others, adding that there was the need to also build the same capacity within the Fintechs in Nigeria.

“Banking as a profession is not only well regulated all over the world, but banks are also known for their strong adherence to compliance standards, as well as their strong culture of building and improving upon capabilities and knowledge.

When you look at Fintech companies and, indeed, the nature and age of FinTechs in our country, they are centred on agility and innovation. As the Fintech industry matures, however, there needs to be equal attention being paid to those things that are lacking in terms of compliance and regulations. This must form the foundation if we are to produce scalable, trustworthy financial service providers.

Two things must happen concurrently. The first as I just mentioned, is to build a strong regulatory capacity within the Fintech space. The second thing to be built upon is the capacity within banks to be more agile. In that way, our economy will benefit from the rising tide of superior financial services, which in turn, will have a ripple effect on the rest of Africa and the world at large,” Bajomo said.

Mrs Aituan Kola-Oladejo, Executive Director, FSI, who described CIBN as a “forward-thinking institution,” said the signing of the agreement would sharpen the FinTech industry.

She said, “this agreement will open the gate for more Fintech innovators into the FinTech ecosystem, as what was lacking was trust.”