Singapore-headquartered AI company Dyna.Ai and Nigerian fintech platform PalmPay have announced a strategic partnership aimed at transforming Nigeria's financial sector through cutting-edge artificial intelligence solutions.

The collaboration was unveiled during Dyna.Ai's private launch event at Four Points by Sheraton Lagos, marking the company's first branded activation event in Africa. The ceremony attracted notable attendees including Mr. Tokoni Peter Igoin, Special Assistant to the President on ICT Development and Digital Innovation, and Dr. Jameelah Ayedun, Vice President of the Fintech Association of Nigeria.

Speaking at the event, Tomas Skoumal, Chairman and Co-Founder of Dyna.Ai, emphasized the importance of collaboration in driving technological advancement in Nigeria's financial ecosystem.

"Transforming the Nigerian finance industry is never a one-party job. It requires collective effort from ecosystem players and support from the local government – all working towards a shared vision to effectively bridge the gap between market demands and the pace of digitalization," Skoumal stated.

Chika Nwosu, Managing Director at PalmPay Nigeria, highlighted how the partnership aligns with the company's mission to enhance financial services in the country.

"By leveraging their remarkable artificial intelligence-powered infrastructure, we're reinforcing the reliability and safety of our services, allowing us to better serve our customers and set a new standard in digital finance," Nwosu explained.

The partnership, which officially began earlier this year, utilizes Dyna.Ai's AI technologies to enhance user experience by improving operational efficiency and streamlining backend processes at PalmPay Nigeria. Both companies have expressed intentions to explore further applications of Dyna.Ai's solutions across additional markets in Africa.

Dyna.Ai, launched in May 2024, has already expanded into markets across Southeast Asia, Latin America, and the Middle East and Africa. The company specializes in AI-as-a-Service, offering solutions that enhance marketing, risk management, customer experience, and employee experience while driving enterprise productivity.

PalmPay, with over 35 million users and a network of 1.1 million merchants and agents across Africa, provides digital banking and fintech services including zero-fee transfers, payments, savings, credit, and insurance. The platform serves both individuals and businesses, from local MSMEs to global enterprises.

This partnership represents a significant step in Nigeria's journey toward digital transformation in the financial sector, potentially setting new standards for AI integration in African fintech operations.