Firm Commits To AI, IoT Deployment For Growth

Xpress Payment Solutions Limited has announced its strategic focus on leveraging Artificial Intelligence (AI) and the Internet of Things (IoT) to drive its growth in the coming years, having successfully processed trillions of naira in transactions over a decade of operation.

At the firm’s 10th-anniversary public lecture in Lagos, themed ‘A Decade of Innovation, A Future of Possibilities’, the managing director, Wale Olayisade, shared the company’s journey from launching operations with zero transactions to digitalising payment solutions for school fees, hospital bills, utilities, and subscriptions.

“With the integration of AI, the company aims to enhance its services, making them more predictive, personalised, and seamless,” he said.

Olayisade emphasised the firm’s commitment to expanding financial inclusion by providing access to financial services for underserved communities and supporting Nigeria’s transition to a cashless economy.

He stated, “AI will enable us to better understand customers’ needs and anticipate their next steps in financial journeys, thereby reducing friction and enhancing convenience. The future holds immense possibilities for us.”

Highlighting their ongoing dedication to innovation and the development of next-generation payment technologies, Olayisade recognised the transformative impact of digital payment innovations on Nigerians’ access to financial services.

He noted significant improvements in speed, convenience, and accessibility in the payment ecosystem compared to a decade ago, attributing this progress to supportive regulatory policies, particularly those of the Central Bank of Nigeria (CBN), which create a stable operating environment.

Executive director of Finance at Xpress Payment Solutions, Temitope Ajanaku, praised the anniversary as a significant milestone, reflecting the organisation’s resilience in navigating economic challenges, including the COVID-19 pandemic and foreign exchange volatility.

She underscored the importance of regulatory compliance as a cornerstone for sustained growth and credibility within the industry.

According to Ajanaku, Xpress Payments Solutions has consistently adhered to guidelines set by the CBN and other regulators, demonstrating our commitment to maintaining high operational standards.

She also highlighted the company’s customer-centric approach, noting that user feedback has been pivotal in shaping its offerings over the past ten years, and added that the firm remains committed to innovation, customer satisfaction, and continuous improvement as it prepares for future growth.

Founder of Xpress Payment Solutions & Chairman of Xpress Holdings Limited, Awa Ibraheem, reflected on the company’s successful decade, acknowledging its thriving in Nigeria’s challenging business landscape.

He pointed out that operating in the financial services sector demands ongoing engagement with multiple regulatory authorities, with the CBN being notably instrumental.