Remita, a financial services company operating under SystemSpecs, launched a mobile app on September 22 during Nigeria Fintech Week in Lagos, expanding its services from a web based platform into mobile banking and consumer payments.
The app allows users to connect and manage multiple bank accounts from a single interface. The model uses open banking, which allows a third party to access financial information from different institutions, and also supports recurring payments from connected accounts.
“For the first time, you’re going to be able to manage all your bank accounts from the same screen,” Atanda said. “Against all of those bank accounts, you can set up recurring payments; the message is financial management with ease.”
According to Remita Managing Director and CEO DeRemi Atanda, about 16 banks and some microfinance banks have already been onboarded, while discussions with additional institutions are ongoing. The company said its existing platform processes hundreds of trillions of naira annually for corporate organisations and multinationals.
The app also adds cross border payments within Africa. Users in Nigeria can send funds to bank accounts in countries including Ghana and Rwanda through the mobile app. The service operates in collaboration with the Pan African Payment and Settlement System (PAPSS), and Atanda said Remita does not set arbitrary fees for these transactions.
“For the first time, still working with the wider ecosystem, you’ll be able to transfer money to African bank accounts right from your Remita mobile app,” Atanda said. “So if you know anybody in Ghana, Rwanda, or anywhere in Africa, you can just pick up your phone and use your Remita app to transfer money to any bank account.”
The move brings Remita into a broader consumer market after about 20 years focused on payments for government organisations and corporate institutions. The company said the app’s beta phase attracted thousands of early users without advertising spending and that it expects significant adoption within the next six months.
Remita remains part of SystemSpecs, which operates multiple businesses including HumanManager Limited, SystemSpecs Technology Services Limited, and Whatadeal.
