Abstract The Nigerian financial sector has long been dominated by traditional institutions, but new Financial Technology (FinTech) companies are challenging this dominance. This study examines whether FinTech represents more than technological innovation, arguing that it also signals a reordering of social arrangements within the financial system. I investigate this change through a novel application of a Science and Technology Studies (STS) approach, namely co-production, combined with a governance analysis using the Governance Analytical Framework (GAF). Using content analysis, I collected and analysed data from thirty-seven documents on FinTech in Nigeria and sixteen semi-structured interviews with diverse FinTech stakeholders. Theoretically, I demonstrate the value of combining the co-production framework and GAF for investigating innovation and social change. Empirically, I establish that the rise of FinTech in Nigeria comprises several actors leveraging rhetoric, industry practices, and cultural norms to transform the financial landscape. Tensions emerging have strategic and policy implications for different stakeholders.
Olajide Olugbade (Thu,) studied this question.