Olufunmilayo Mayowa1
INTELLECTUAL PROPERTY ISSUES IN FINTECH
Introduction
Over the last three years, there has been a rapid rise in the
number of Financial Technology ("Fintech") companies in
Nigeria. Within the last three years the number of Fintech
companies in Nigeria has grown to over 60.2 The growth in recent
years is mainly due to the introduction of modern and convenient
payment services which is a much-needed improvement to customer
experience in the digital space.
From transaction payments to lending, to insurance, virtual
currencies and Blockchain, Fintech services are redefining the way
businesses and consumers carry out routine transactions. The
increasing adoption of these trends is positioning Nigeria as an
attractive market worldwide.3 The industry has also experienced
a rise in its Investment opportunities, for example, Paystack and
Piggybank.ng, (two prominent Fintech companies in Nigeria) recently
received both foreign and local investments
