Nigerian fintech Rex Africa has launched a banking platform built with artificial intelligence integrated into its core infrastructure, enabling customers to receive personalised recommendations on savings, investment, credit and risk management.

Founded by Yinka Odeleye, the company developed its own proprietary banking infrastructure, called RexCore, which was designed from the outset to incorporate AI tools rather than layering them onto existing traditional services. At the centre of the platform is Rex Atlas, a financial agent that analyses user history and allows customers to interact with the bank through natural conversation.

The tool provides guidance tailored to each customer’s profile, including recommendations on savings, investments, credit and financial management. “We built Rex with artificial intelligence at the heart of the banking experience, not as an add-on feature,” said the company’s chief technology officer, Opeyemi Emmanuel.

Beyond the digital agent, Rex Africa offers products aimed at both individual and business customers. For consumers, the suite includes flexible savings through RexSave, fixed deposits via RexVault, credit through RexFlex and payments with RexCard. On the business side, the fintech provides RexPOS for payment acceptance and RexCredit, a financing solution targeting small and medium-sized enterprises and corporate clients.

The company’s founder argues that the next generation of banking services will be defined by the growing use of intelligent systems. He contends that banking must move beyond the movement of money and begin using data to help customers manage, protect and grow their wealth.

Operations are underpinned by Rex Microfinance Bank, a institution licensed by the Central Bank of Nigeria. Eligible deposits are covered by the Nigeria Deposit Insurance Corporation (NDIC), according to the company. The ecosystem also encompasses an established lending business and a banking-as-a-service (BaaS) platform, which allows other businesses to access customer accounts, collections and payment capabilities.

Rex Africa says it has registered thousands of individual users and hundreds of businesses since the platform’s launch in November. Nigeria remains the fintech’s primary market at this stage.

Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/?p=560304