· Fets Ltd becomes the first Nigerian mobile money company to secure the prestigious ISO9001 quality standard
· The standard is based on quality management principles including strong customer focus and continual improvement
· Mrs Omotade Odunowo, fets CEO: “We have a commitment to excellence in mobile money services.”
Fets Ltd, Nigeria’s leading mobile money transfer company, announced today that it has secured the prestigious ISO (International Standards Organisations) 9001 quality certificate. The certificate is overseen in Nigeria by the Nigerian Standards Council and is issued to companies which, among other requirements need to demonstrate strong customer focus and a commitment to continual improvement.
Commenting on the ISO9001, the first to be awarded to a Nigerian mobile money operator, fets CEO Omotade Odunowo said: “The team at fets has been working since September 2017 to secure this important certificate. It shows that we have a strong commitment to excellence in mobile money services. This ISO9001 is an endorsement of the products and procedures we have implemented over the years.”
The ISO9001 continues a string of ‘firsts’ for fets after introducing in 2017 a mobile app in five of the main languages used in Nigeria: English, Hausa, Igbo, Pidgin and Yoruba; as well as being the first mobile payment company to sponsor Lagos Fashion Week.
Mrs Odunowo commented: “In receiving this certificate we are particularly proud of the fact that the fets mobile money platform was built by Nigerian IT experts. We had an unwavering belief that our programmers can build a world class product, and ISO9001 proves we were right. We are looking forward to continuous improvement in serving our customers and securing our reputation for excellence in mobile money.”
As we celebrate Children’s Day today, we are not merely rejoicing in our children, and all of the children in Nigeria. We are also anticipating that children of today will become adults of tomorrow: leaders and professionals, parents and teachers. How they will turn out depends on what we, as a community, do today, particularly when it comes to education.
I have no doubt that Nigeria has a large reservoir of talent and ingenuity. We have built our business on the expertise of Nigerian IT experts and programmers. At the outset we realised that we have all the necessary domestic resources to make it happen. Education was essential to nurturing such talent and giving it full expression. However, we need to do more, so that in our country all children receive a decent level of schooling. And the fundamental aspect of education is literacy.
Literacy as the basis of education: this is where fets is taking action on Children's Day. But, we are also going further: we believe that our initiative - in addition to promoting basic literacy - will help nurture a culture of reading.
That is why Fets – the mobile money company I serve as CEO – is providing books to public schools in Lagos and Abuja. We want to encourage children to use libraries, to see them as living spaces, as cathedrals of ideas, and as places of fun and learning.
For it is there than children can gain insight beyond their own experience. Reading fires the imagination, spurs quick learning and gives one the ability to grapple with complex issues. Few nations in the world are as complex as Nigeria. However, those that shall negotiate such complexity will be today’s young Nigerians - we just need to give them the skills to succeed.
My company reflects the belief that this can be done. All our employees are local, and they have built complex IT and fintech systems serving millions of users from first principles. And in our central mission to bring down the number of unbanked in the country, which still stands at around 80 million, our user-friendly app is now available not just in English, but also in Hausa, Igbo, Pidgin and Yoruba. This multi-lingual functionality is the first of its kind in the fintech market in Nigeria.
So basic literacy in any of the 5 main Nigerian languages enables you to use fetswallet. Such usage promotes financial inclusion, secures payments and makes access to capital easier. In sum, it enables individuals to better their lives. Yet at fets we would like to do more. We know that passion for literature invigorates the imagination. It gives you the power to conjure different futures. It sows the seeds of innovation. Rather than merely help themselves, nimble and freethinking readers can find solutions that help entire populations.
Children with curiosity for learning and literature are the leaders of tomorrow. We must therefore strive to not only boost literacy rates, but also promote and deepen a vibrant reading culture in Nigeria. The more creative thinkers and problem solvers - the better. It is these curious, inquisitive and eager young minds that will benefit us all. As we celebrate Children’s Day – let us do all we can to help them along.
The conditional cash transfer project is one of the social protection program (others include employment and empowerment of youths, home grown school feeding, free tertiary education, micro credit for MSMEs and teach Nigeria) sponsored by the Federal government of Nigeria in partnership with the Department for International Development (DIFD) and the World Bank. This project is aimed at providing safety nets to the poor and vulnerable citizens in the country. This is done through the bi-monthly disbursement of N10,000 to alleviate their situation. The project is managed by the National Cash Transfer Office (NCTO) under the office of the Vice President.
fets is one of the payment service providers (PSPs) responsible for the bi-monthly disbursement of funds to the beneficiaries. We started in May 2017 and we have disbursed about three billion naira to over eighty thousand beneficiaries in 5,645 communities across seven states including Ekiti, Oyo, Osun, Bauchi, Borno, Kaduna and Kano states.
We had the opportunity to publish one of the most interesting articles on the African Fintech market on our website not long ago,written by Omotade Odunowo, CEO of fets Ltd. In this interview, Omotade speaks on the present state of the Nigerian Fintech Market and the opportunities available;
1) Hello Omotade, could you please tell us about yourself?
I joined fets as Chief Risk Officer in 2012, shortly after the company was founded. I worked my way up to Managing Director and am now CEO, providing the overall strategic leadership, direction and guidance for the growth, expansion and diversification of the company.
Funds & Electronic Transfer Solutions Limited (fets) has announced plans to boost its agent network across the country, as part of its determination to reduce the percentage of Nigeria’s unbanked population.
Parts of the plans include the recruitment of more agents across the country; especially in the country’s rural areas where formal banking has limited presence. According to the company, with a country-wide agent network, it will design new and exciting products and services for the population through a combined technology and distribution channel to enable a rapid reach out, thereby altering the lives of the beneficiaries.
Its Managing Director, Mrs. Omotade Odunowo said the company realizes the importance of having a vast agent network in the achievement of its set goals of bridging the gap in the Nigerian unbanked space, describing it as an important component of financial inclusion.
fets received the award for ‘’Best Mobile Payment Technology Company of the Year 2015’’ from the Institute for Government Research & Leadership Technology as they held their 2015 African Governance and Corporate Leadership Awards on Friday, November 28th 2015. The institute is a Federal Government of Nigeria registered project initiative of the African Foundation established by CAP 436 Law of the Federation of Nigeria 1990. It is a non sectarian, not-for-profit educational institution with the aim of providing world class training and research services for the government, persons seeking elective positions and corporate citizens.