Bleyt: Bridging the Trust Gap in Cross-Border Transactions for Nigerians
For years, foreign banks have exhibited a level of distrust towards Nigerian individuals and businesses, creating hurdles for international transactions and remittances. Now, a new startup called Bleyt, founded by Wale Akanbi, former CTO of fintech Aella, aims to tackle this challenge head-on. Bleyt leverages technology to facilitate seamless and reliable cross-border transactions, fostering greater trust and accessibility for Nigerians in the global financial landscape.
Aella’s AI Legacy and Bleyt’s Vision
Before the current AI boom, Aella, a Nigerian fintech company, was quietly integrating machine learning into its lending processes as early as 2017. According to Akanbi, Aella successfully cut down loan decision times to a mere four minutes using these AI-powered tools. This innovative approach even garnered recognition from Amazon CTO Werner Vogels, who hailed it as the future of banking. Akanbi is now applying his deep understanding of technology to Bleyt, with the goal of enabling Nigerians to export their transaction history and build credibility within the international financial system. This initiative directly addresses the existing trust deficit and promises to simplify cross-border transactions and remittances for Nigerian users.
Bleyt’s mission is to change the narrative by providing a secure and transparent platform for international financial interactions. By leveraging technology to build trust and streamline processes, Bleyt seeks to empower Nigerian individuals and businesses to participate more effectively in the global economy. This innovative approach has the potential to revolutionize cross-border finance and foster stronger economic ties between Nigeria and the rest of the world.
Keywords
Related Keywords: Nigerian startups, foreign bank distrust, crossborder payments Nigeria, fintech Nigeria, international banking Nigeria, financial inclusion Nigeria, Nigerian creditworthiness, startup addressing financial bias, building trust foreign banks, Nigerian business reputation
