By Prince Osuagwu  (Hi-Tech Editor)

African financial technol-ogy startups could pass as engine rooms of African financial technology transformation and developments.

This is owing largely to technological ideas adapted from economies that have grown putting those ideas to test.

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However, to sustain the progress so far made with those ideas, there is the need to properly hatch, recreate and innovate on them. It is also imperative to create and domesticate new ideas in line with the peculiarities of the African market.

That could be what led a frontline Nigerian technology company and system integrator, Inlaks, to  introduce an innovation lab dubbed “thehatch.”

The lab was unveiled at the just-concluded Africa Fintech festival at the Landmark event Centre, Oniru, Lagos.

With the innovation lab, Inlaks prides itself as having provided a solution to major challenges facing the society.

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The company said that although it is in business for have returns on investment, thehatch was mainly a patriotic call considering that it has the capability to identify, nurture and scale innovative technology-driven ideas capable of transforming the financial service sector in Nigeria and Africa.

The MD/CEO, Africa Operations, Mr. Femi Adeoti, highlighted critical benefits of  the  innovation lab to include fostering relationships between Fintech startups and several Inlaks clients and partners as well as providing a stepping stone into the marketplace.

He also noted that the innovation lab will build and scale Fintech solutions through collaboration with the Technological industry, private sector, government, investors, academia and the digital workforce.

Adeoti said: “Most of the startup entrepreneurs do  not have the experience and capability to reach the quality of customers available to Inlaks. It is our goal to take these startups wherever we go so they can interface with some of our global clients and partners, and thereby take advantage of the opportunities that are possible.”

According to him: “Inlaks built thehatch to encourage start-up entrepreneurs to be creative and serve as solution providers to major challenges facing the society.

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“Meanwhile, it’s our pleasure to host Africa Fintech Festival Start-Up Fair in Nigeria at our  business incubator,  thehatch,” Adeoti added.

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Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.