THE LEGALITY OF FINTECH: A CASE STUDY OF PALMCREDIT
Abstract
ABSTRACT
This study examines the legality of fintech operations with a specific focus on Palm Credit, a
prominent digital lending platform in Nigeria. The rapid evolution of financial technology
(fintech) has significantly disrupted traditional banking systems, offering innovative solutions that
enhance financial inclusion and accessibility. However, this transformation has also raised
critical legal and regulatory challenges. This research explores the legal framework governing
fintech in Nigeria, scrutinizing how Palm Credit operates within this framework. The study
addresses issues such as regulatory compliance, consumer protection, data privacy, and the
impact of existing laws on the fintech ecosystem. Through a comprehensive case study of Palm
Credit, the research evaluates the efficacy of current legal provisions and identifies gaps that may
hinder the sustainable growth of fintech in Nigeria. The findings underscore the need for a robust,
adaptive regulatory frame work.
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