PalmPay has stepped up efforts to strengthen security and improve transaction reliability in digital banking, following its recognition as the Most Innovative Fintech Brand of 2026 at the BrandCom Awards.

The recognition, announced at the award ceremony held on October 24 at the Landmark Event Centre, Lagos, comes amid growing concerns over digital fraud and the need for financial technology companies to build consumer confidence in electronic transactions.

The fintech company said its approach to innovation centres on providing reliable transactions, improving account security and developing financial services that respond to the everyday needs of individuals and businesses.

According to the company, it currently records a 99.9 per cent transaction success rate, reflecting its focus on improving the reliability of its digital financial services.

PalmPay has also strengthened its customer-protection measures through an upgraded Security Center, which provides tools designed to help users safeguard their accounts and protect their funds against potential security threats.

The company said the measures form part of its broader efforts to make digital banking more secure and dependable as more Nigerians embrace electronic payments and app-based financial services.

Commenting on the recognition, the Head of Marketing and Communications at PalmPay Nigeria, Olorunfemi Hanson, said innovation required financial service providers to understand customers’ changing needs and develop solutions that improve convenience, reliability and security.

“Innovation means understanding our customers’ evolving needs and developing solutions that make banking more reliable, convenient and secure,” Hanson said.

He added that the company was combining a range of financial services on one platform with improvements to its security infrastructure to address emerging fraud tactics.

According to him, the recognition reinforces the importance of developing solutions that deliver practical benefits to customers and strengthen trust in digital financial services.

Beyond technological improvements, PalmPay is also investing in customer education through its PalmPay Dey For You campaign, launched in September 2026.

The initiative seeks to raise awareness of fraud risks and encourage safer digital banking practices, including protecting personal banking credentials and verifying suspicious requests through official channels.

The campaign highlights the importance of consumer awareness alongside technological safeguards in reducing exposure to digital fraud.

PalmPay previously received a BrandCom Award for its contribution to financial inclusion, with the latest recognition highlighting its continued focus on innovation in Nigeria’s financial technology sector.

The 2026 BrandCom Awards ceremony brought together brands and industry leaders recognised for their contributions across different sectors of the economy.

As digital financial services continue to expand, industry players face increasing pressure to ensure that convenience is matched by reliable transactions, effective security measures and adequate consumer education.

For fintech companies, sustaining customer confidence will depend not only on technological innovation but also on their ability to protect users, respond to emerging threats and deliver dependable services.