The 2025 Nigeria FinTech Survey Report, by Column, emphasises the need for FinTech companies to shift their focus from merely offering functionality to building daily financial habits.

According to the report authored by Column CEO, Mo Shehu, while many Nigerians want to save and plan their finances, they struggle to turn their intentions into consistent habits.

The report suggested that FinTech companies can rise to this challenge by designing tools that make budgeting feel automatic, use behaviour-based triggers, consolidate financial visibility, celebrate progress, and add joy and community to the financial management experience.

It noted that, for instance, FinTech apps can allow users to set daily, weekly, or monthly budgets with dynamic reminders when they are nearing their limits, or save a certain amount when spending exceeds a threshold.

“FinTech companies are already at the forefront of financial innovation in Nigeria. They’re fast, digital-first, and widely trusted—especially among younger users. And many of them already offer core features people say they want: auto-save, locked savings, expense tracking, and reminders (often by email). So the gap isn’t always in what the apps can do. It’s in how those features show up in daily life.

“Users aren’t struggling to find features—they’re struggling to turn them into habits. And that’s where the next leap lies: designing fintech tools that don’t just offer functionality, but build daily behaviour.”

The report also emphasised the role of government and regulators in promoting financial literacy and consistent money habits among Nigerians.

The data highlighted a lack of financial literacy and consistent money habits among Nigerians saying, “Many know they should be budgeting and saving—but don’t know how to start or stick with it. This is where the government and regulators can step in to build foundational change.”

It stated that public campaigns and policy initiatives can help normalise good financial behavior and drive interoperability standards that enable users to connect their accounts and track activity across different apps and platforms.

“The government doesn’t need to replace innovation—it just needs to unlock it at scale. By focusing on awareness, access, and accountability, it can turn one-time savers into lifelong planners.”

The report stated that Traditional banks also have an opportunity to reclaim relevance by offering behavior-oriented value and serving users across ecosystems.

“By designing mobile-first tools that match the speed and intuitiveness of FinTechs, banks can shift from being just storage units to financial command centers.”

The report recommended that banks introduce goal-based savings products, savings challenges, and locked savings with visual countdowns to help users build good financial habits.

It emphasised the importance of a more holistic approach to financial management, one that extends beyond simply offering financial products and services to fostering daily habits and enhancing financial literacy.

“By focusing on automation, accountability, simplicity, and daily clarity, FinTech companies, government, and traditional banks can work together to promote financial inclusion and stability in Nigeria.”