Browsing by Author "OWOLOYE, BRIGHT ODUNAYO"

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    Artificial intelligence and automation as drivers of market expansion in Nigeria’s fintech sector: A systematic review
    (International Journal of Intellectual Discourse (IJID) Volume 9, Issue 1., 2026-03) Adesanya, Oluwatoyin Deborah; OWOLOYE, BRIGHT ODUNAYO; Obiukwu, Ferdinand
    This study systematically reviews the literature on the role of artificial intelligence (AI) and automation in expanding the market reach of fintech services in Nigeria. Guided by PRISMA 2020, the review covered literature published between 2015 and 2026 and used keyword combinations built around “artificial intelligence”, “automation”, “fintech”, “Nigeria”, “Sub-Saharan Africa”, “market expansion”, “trust”, “risk management”, and “financial inclusion”. A targeted retrieval strategy was applied across Google Scholar, ScienceDirect, SpringerLink, Taylor & Francis Online, and official publications of the Central Bank of Nigeria, the World Bank, OECD, and the Financial Stability Board. Eighty records were captured; 37 duplicate or alternate records were removed; 43 unique records were screened by title and abstract; 19 full texts were assessed for eligibility; and 16 records met the inclusion criteria for the final synthesis. The review shows that AI and automation support market expansion through three interrelated pathways: operational efficiency and decision quality, stronger transparency and risk management, and improved inclusion when supported by infrastructure, literacy, and governance. Results from individual studies indicate that fraud detection, credit scoring, onboarding automation, and compliance support can strengthen risk management and service reliability, while trust, privacy, and security concerns continue to shape adoption. The study concludes that AI and automation are best understood as enablers of trustworthy scale rather than automatic drivers of growth. Their market effects depend on governance quality, user confidence, and supportive digital infrastructure.
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    DIGITAL INNOVATION ON MARKET EXPANSION IN THE FINANCIAL SECTOR: A STUDY OF FINTECH END-USERS IN LAGOS STATE, NIGERIA
    (Covenant University, Ota, 2026-06) OWOLOYE, BRIGHT ODUNAYO; Covenant University, Dissertation
    This study investigated the impact of digital innovation on market expansion in the financial sector, focusing on Fintech end-users in Lagos State, Nigeria. Despite the rapid growth of fintech services in Nigeria, fintech end-users still face challenges relating to financial exclusion, fraud risk, high transaction costs, limited transparency, and transaction inefficiency. Guided by the Technology Acceptance Model and Diffusion of Innovation Theory, the study examines how customer digital engagement, regulatory technology use, blockchain technology adoption, AI and automation implementation, and real-time payment infrastructure improve financial inclusion, fraud detection, cost reduction, transparency, and operational efficiency among fintech end-users in Lagos State. Four hundred (400) copies of a structured questionnaire were shared electronically to fintech end-users in Lagos State, including active customers, merchants, and agents of OPay, Moniepoint, Internopay, and related platforms. 384 valid responses were received and analysed with Partial Least Squares Structural Equation Modelling using SmartPLS. The major findings of this study revealed that five dimensions of digital innovation (customer digital engagement, RegTech acceptance, blockchain adoption, AI and automation adoption, and real-time payment infrastructure) positively and significantly affect indicators of financial market expansion (fraud detection, cost reduction, transparency, and operational efficiency) in the Fintech sector. The study concluded that investing in user-centred platforms such as automated compliance, blockchain-enabled verification, explainable AI, and resilient instant-payment rails drives financial market expansion and results in operational efficiency of the Fintech firms; hence, the study recommended that Fintech firms should invest more in automated fraud monitoring systems, identity verification tools, and anti-money laundering technologies to enhance fraud detection and improve users’ trust in digital financial platform.