• Latest
  • Trending
How To Start A Fintech

How To Start A Fintech

October 22, 2022
Edtech startup The Invigilator raises $11 million to scale its AI platform

Edtech startup The Invigilator raises $11 million to scale its AI platform

September 6, 2025
iXAfrica receives RMB financing to fast-track 20 MW expansion in Nairobi

iXAfrica receives RMB financing to fast-track 20 MW expansion in Nairobi

September 6, 2025
OpenAI challenges LinkedIn with new AI-powered hiring platform

OpenAI challenges LinkedIn with new AI-powered hiring platform

September 6, 2025
Tanzanian fintech NALA takes its services to Kenya

Tanzanian fintech NALA takes its services to Kenya

September 6, 2025
Call of Duty movie: Paramount, Activision strike deal for live-action adaptation

Call of Duty movie: Paramount, Activision strike deal for live-action adaptation

September 5, 2025
Meta Brings Back Facebook Poke with Emojis and Streaks

Meta Brings Back Facebook Poke with Emojis and Streaks

September 5, 2025
Know why they’re calling: Truecaller launches AI-powered insights

Know why they’re calling: Truecaller launches AI-powered insights

September 5, 2025
Visa harnesses local partnerships to launch Visa Pay in DR Congo

Visa harnesses local partnerships to launch Visa Pay in DR Congo

September 5, 2025
Betika denies recent reports of security breach

Betika denies recent reports of security breach

September 5, 2025
10 things you can actually buy with crypto in Africa

10 things you can actually buy with crypto in Africa

September 5, 2025
Your one-stop tech hub! Get the latest updates on AI, cybersecurity, fintech, and emerging technologies.
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
Techpression
No Result
View All Result
Home Tech News Africa Tech News

How To Start A Fintech

Felicia Akindurodoye by Felicia Akindurodoye
October 22, 2022
143 7
0
How To Start A Fintech
465
SHARES
Share on FacebookShare on TwitterWhatsAppTelegram

Starting a Fintech company is quite different from starting any kind of business. This is because, unlike other businesses which can be run alone, starting a Fintech requires a team. Well, that’s just part of the things to keep in mind if you intend to start your Fintech company.

Let’s get into the details about tips you need to know on how to start a fintech company. This article enlisted 6 crucial steps you need to know on how to start a fintech. You don’t want to miss this, especially if you’re a potential entrepreneur.

Read also: Abidjan to host the next Fintech Forum

What To Know Before Starting Your Own Fintech

1. Have A Niche In Mind

Every big Fintech startup you see today started out as a fantastic concept. So, take your time coming up with innovative strategies to challenge established banks and financial institutions.

RelatedPosts

PrimePay obtains data security certification

South Africa’s payment reform opens doors for stablecoins, blockchain innovation

Eaglelion unveils solutions to enable cross-border remittances for Ethiopians

If you have a team, you can use the brainstorming approach to get business ideas from them. Another way you can get business ideas is by examining typical problems other financial organisations have trouble tackling. That is a wonderful method to come up with innovative ideas for the Fintech sector. Offer remedies that address or lessen these concerns once you and your team have discovered them.

Remember that when getting ideas from any of these methods listed above, do well not to rule out any possibilities; instead, critically consider them before cancelling them out.

2. Focus On One Service

As you have just known, the word “fintech” is used to refer to a variety of technological goods and services that simplify money transfers or the administration of a person’s or business’s finances. Given the wide range of financial options accessible to both consumers and businesses, it is exceedingly challenging for one business—especially a startup—to offer every Fintech service.

If you’ve thought about starting a Fintech business, it’s crucial to focus on a certain market, such as general banking or lending. In this manner, you can concentrate your efforts and resources in one direction and can dominate this market.

3. Choose A Qualified Software Developer

When working with an unreliable IT partner, a fintech company may have several problems, including poor software product quality, non-compliance with deadlines, and bad performance.

So, It is critical to work with a reliable financial software development business to create a digital solution that complies with the requirements. You should review a potential IT partner’s past works to determine whether it has experience with fintech.

Read also: How To Use MTN MoMo

4. Know Your Potential Target Market

The kind of Fintech solutions your firm will offer depends on the target market you’ll be targeting. It’s critical to understand your target market because not everyone will find a given Fintech product useful. Your target market will be more mature, for instance, if you offer services for retirement financing.

This is important for your company’s success because many software features won’t appeal to your target market, just as some financial products may not necessarily resonate with particular demographics.

5. Know Your Potential Competitors

You must research the competitors now that you have determined your niche and the target market. Given that there are other products in the industry you’re entering, yours should stand out and fill a certain niche.

Just as stated earlier, knowing the weak point of your competitors and capitalising on it can help you gain success in the fintech industry.

6. Know Your Source Of Capital

For your startup, there are various alternative ways to raise money. You might bootstrap your business, which entails raising all of your capital without seeking outside investors. Crowdfunding and bank loans are popular funding options.

Whatever funding option you decide on, be sure to comprehend the demands. For instance, you might have to give up some control over the product you are developing if you accept funding from other investors. Giving an outside investment group power or a voice in design, development, and commercial decisions may not sit well with certain Fintech entrepreneurs.

How to Check BVN on Your Mobile Phone Number

Conclusion

Out of the steps mentioned above, knowing your target market and having a niche in mind are crucial steps in building a successful Fintech. You should carry out market research and competitor analysis for this reason. This will also assist you in learning about your niche and the type of product you should offer.

Tags: FintechHow to
Felicia Akindurodoye

Felicia Akindurodoye

Felicia Akindurodoye is an experienced writer and researcher, whose watchword is originality.

No Result
View All Result

Quick Links

  • Tech News
  • Cryptocurrency
  • Fintech
  • Startups
  • Business

Follow Us:

  • facebook
  • instagram
  • Twitter(X)
  • Linkedin
  • YouTube
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 Techpression.com -Techpression Media Limited

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in .

No Result
View All Result
  • Home
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Reviews
    • How To
    • General News
  • Cryptocurrency
  • Business
  • Fintech
  • Startups
  • Featured
  • Ai
  • Tech TV

© 2025 Techpression.com -Techpression Media Limited

techpression.com
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

3rd Party Cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.