UK-Based Fintech Firm Ceviant Begins Operations in Nigeria

June 16, 2022

By Modupe Gbadeyanka

A fintech company based in the United Kingdom, Ceviant, has commenced operations in Nigeria and will offer its customers transformative cash management solutions.

Ceviant acts as a B2B SaaS (Software as a Service) platform that simplifies liquidity management for corporates. It has developed a proprietary cloud-based treasury management software that enables businesses to aggregate all their banking payments in one place.

Nigeria is its destination in the emerging market and will deliver a broad range of treasury and trade solutions to a large and diversified client base, including corporates and multinationals, SMEs, importers, and exporters.

Nigeria is Africa’s most populous country and largest economy, with a gross domestic product of $441.5 billion in 2021, according to Statista.

In the last few years, there has been a surge of investment in Nigerian fintech which has birthed multiple African fintech Unicorns. Beyond Nigeria, Ceviant plans to launch across the continent and the UAE.

The newly designed website displays the company’s suite of products and services, including treasury management, cash visibility, and digitising trade finance. The platform will ensure information is easily accessible to key stakeholders.

Furthermore, Ceviant is developing the most direct API connectivity to banks in emerging markets which will allow clients to connect with business services and capabilities outside of traditional banking channels.

The company is FCA regulated in the UK and has also received Approval in Principle licences in Nigeria. It has also been awarded ISO accreditation and recently been accepted to join the SWIFT partner programme to create real value for customers while streamlining their multi-banking transactions to improve efficiency.

Ceviant has also secured four new banking partners in Nigeria and plans to further expand its partner network across Africa and the UAE. The company’s go-to-market strategy includes SMEs, large corporates, and intermediaries to these businesses, such as the leading accountancy firms.

The founder of Ceviant, Mr Idris Alubankudi Saliu, while commenting on the launch, stated that, “Corporates of all sizes have many challenges, including being able to manage their cash and access working capital and trade finance solutions to support their operations.

“We’re a new but key player in the market, aiming to solve the complexity around the way African companies traditionally manage their banking solutions by providing our integrated services in one place.

“We simplify processes and facilitate financial inclusion, with compliance and security at the heart of everything we do.

“This is a large and generally untapped market for our products and services, and we are extremely excited for customers to interact with our newly functional website. We look forward to the future and creating value for our stakeholders.”

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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