Praise Adeoti is a software engineer and entrepreneur passionate about building impactful fintech and AI products. He is currently a Frontend Engineer at AskYourPDF, building AI tools for document interaction, and the Co-Founder and CEO of Collectiva, a platform digitising operation for cooperative societies across Africa. Praise specialises in taking early-stage ideas from concept to launch, combining technical execution with product-led business strategy. In this interview with KENNETH ATHEKAME, he spoke on how member contribution histories and peer-guarantor data within cooperative platforms can be structured to assess loan eligibility while retaining human board oversight, as well as how Nigeria’s Open Banking framework and banking APIs can be leveraged by niche management platforms to automate instant payment verification and loan disbursements for informal financial groups. Excerpts:
How has your background in petroleum engineering shaped your analytical approach, and which core engineering principles guided your transition into software and financial technology?
My interest in software development began during my first year at the University of Ibadan. Although I was pursuing a degree in petroleum engineering, I was simultaneously learning programming, starting with Fortran and later progressing to Python. I discovered a strong affinity for programming and logical problem-solving, which prompted me to continue building systems alongside my core academic studies.
While petroleum engineering provided a rigorous analytical foundation, my passion for technology had taken root long before graduation. By the time I completed my studies in 2023, I had determined that my future lay in software engineering.
The primary intersection between engineering and software lies in the methodology of problem-solving. Both disciplines require a granular understanding of complex systems, the ability to decompose large problems into manageable components, and the application of practical solutions. That structured approach has proven invaluable, particularly when architecting financial technology products with multiple interdependent variables.
How can digital platforms like Collectiva streamline onboarding for traditional cooperative executives who may have limited technical literacy or hesitation towards cloud-based record keeping?
The primary objective is not to demand that cooperative executives become technical experts overnight. Instead, we design intuitive systems, guide users through the initial setup, and provide continuous operational support throughout the onboarding lifecycle.
Many of these cooperative societies have operated for decades using physical ledgers, spreadsheets, or other manual processes. We do not advocate for the immediate abandonment of established workflows in favour of radical change. Rather, we analyse their existing operational models and systematically transition those processes onto the digital platform. We offer hands-on training for administrators and executives to ensure complete operational comfort. Technology must continuously adapt to the user, rather than forcing the user to adapt to the technology.
Given local network instability across non-metropolitan areas in Nigeria, what architectural patterns best ensure robust offline transaction logging and subsequent cloud ledger reconciliation?
Designing software for the Nigerian market requires explicit recognition of variable internet connectivity. A user operating in central Lagos may enjoy stable connectivity, whereas a user in a regional location may experience frequent network disruptions mid-transaction. Systems must be engineered around this infrastructure reality. For mission-critical operations, particularly financial transactions, local data retention is essential to prevent data loss during connectivity drops. Implementing a local transaction queue allows actions to be stored securely on the device and synchronised with the central server once connectivity is restored.
However, local storage is only half the challenge; the primary technical hurdle is preventing duplicate processing upon reconnection. This requires robust architectural mechanisms, including unique transaction identifiers, idempotency keys, and comprehensive reconciliation protocols. The system must reliably verify whether a transaction has already been ingested to prevent financial discrepancies.
How can member contribution history and peer-guarantor data within a cooperative platform be structured to evaluate loan eligibility without completely removing human board oversight?
Software should complement, rather than supplant, the decision-making authority of a cooperative’s leadership. A defining characteristic of cooperative societies is that board members possess qualitative context regarding individual applicants. Technology should enhance that governance model rather than eliminate it.
The platform aggregates key metrics, such as contribution consistency, total savings, historical borrowing behavior, repayment reliability, and outstanding liabilities. Concurrently, it evaluates the financial standing of nominated guarantors, assessing their membership status, savings balances, existing liabilities, and prior guarantee commitments.
By consolidating disparate financial records into a unified dashboard, the system provides loan committees with a clear, comprehensive credit profile. Ultimately, final approval authority remains with the board, supported by structured data to drive informed credit decisions.
What product strategies allow a cooperative management SaaS to stay flexible enough to support varying state-level cooperative laws across Nigeria while enforcing standard accounting practices?
This operational requirement was identified early in the development of Collectiva. Operating frameworks vary significantly across different cooperative societies and regional jurisdictions.
During onboarding, we assess each organisation’s specific operational rules, including contribution schedules, loan approval hierarchies, interest calculation methodologies, and authorization matrixes. The platform is then configured to mirror those parameters. Digital transformation should not require an organisation to dismantle functional, legacy processes.
However, flexibility must coexist with regulatory compliance. Core accounting principles and statutory requirements remain strictly enforced within the platform architecture. By maintaining a standardised, immutable core ledger alongside configurable operational modules, the platform seamlessly accommodates diverse regional mandates while maintaining financial integrity.
Beyond core ledger administration, what embedded features drive active daily or weekly engagement from members?
Cooperative management software must extend beyond back-office accounting functions. Individual members are primarily concerned with immediate personal metrics: current savings balances, outstanding loan balances, transaction confirmations, accrued interest, and upcoming payment schedules.
Integrating features such as real-time transaction notifications, contribution tracking, automated repayment schedules, and digital account statements drives consistent engagement.
Furthermore, integrating administrative communication tools directly into the platform such as formal announcements, digital voting, and member communications replaces fragmented channels like WhatsApp. Consolidating everyday operational interactions within the application encourages regular usage beyond basic loan requests.
How can early-stage SaaS platforms operating in Nigeria structure subscription models in Naira to remain affordable for local organisations while hedging against USD-denominated infrastructure costs?
Managing currency mismatch is a central challenge for software businesses in Nigeria, where revenue is realised in Naira while critical cloud infrastructure is billed in US dollars. Continuously adjusting subscription fees to match exchange rate fluctuations is unviable for local client retention.
Pricing must fundamentally reflect the quantitative value delivered to the client. If the platform successfully manages substantial capital, eliminates manual administrative overhead, and secures financial records, the pricing structure should be tied to that economic value rather than underlying server costs.
Furthermore, tiered pricing models ensure scalability. Smaller cooperatives pay rates proportional to their size, while larger organisations with higher transaction volumes contribute higher recurring revenue. As the customer base expands, economies of scale help absorb USD-denominated overheads.
Drawing from workflows in document intelligence tools, how can AI be practically applied to Nigerian cooperative operations to parse physical bank statements, audit meeting minutes, or verify manual receipt uploads?
Document processing remains a major operational bottleneck for traditional cooperatives. Artificial intelligence provides immediate efficiency gains by automating manual data extraction from physical documents, bank statements, and payment receipts.
When a cooperative uploads a bank statement or payment receipt, optical character recognition and domain-specific machine learning models extract transaction amounts, dates, and account identifiers, automatically matching them against internal records for rapid reconciliation.
Additionally, AI audio tools can process recorded board meetings to generate structured minutes, action items, and decision logs immediately following a session. This eliminates hours of manual administrative writing. The primary objective of implementing AI is to eliminate repetitive operational friction rather than deploying technology for its own sake.
What field-sales and product-led growth tactics are most effective at converting traditional, relationship-driven organisations into paying SaaS customers?
Converting traditional cooperative societies requires a hybrid approach combining field sales with product-led growth. Relying exclusively on digital acquisition channels is insufficient for relationship-driven, high-trust sectors.
Cooperative executives prioritize security, organizational track record, and hands-on support. Field-sales teams establish essential interpersonal trust, evaluate existing operational bottlenecks, and demonstrate direct product utility to decision-makers.
Once initial interest is established, the product experience must seamlessly drive retention. Frictionless onboarding, rapid time-to-value, and reliable customer support are critical. Furthermore, because cooperative leaders maintain extensive peer networks, establishing strong reference accounts creates a natural referral pipeline across regional ecosystems.
What specific performance strategies deliver the most noticeable user experience gains on low-bandwidth mobile devices?
Optimising for low-bandwidth environments requires strict discipline regarding network payloads. Transferring excessive data over weak mobile connections severely degrades user experience.
Key technical optimisations include aggressive client-side caching to prevent redundant data fetching, minimising API payload sizes, and deferring non-critical asset loading. Code splitting and lazy loading ensure users download only the dependencies required for their immediate session.
Implementing progressive web app architectures further enhances resilience in unstable network conditions. Ultimately, engineering teams must optimize applications specifically for the prevailing hardware and network conditions of the target demographic.
How can Nigerian Open Banking frameworks and banking APIs be leveraged by niche management platforms to automate instant payment verification and loan disbursements for informal financial groups?
Open Banking frameworks eliminate substantial manual reconciliation work. Historically, confirming member payments required manual bank statement checks and updates to physical ledgers. Integrated banking APIs enable real-time payment notifications that automatically reconcile transactions and update individual member accounts instantaneously.
Similarly, loan disbursements can be fully automated once board approval parameters are met, executing transfers and logging transaction receipts directly within the platform.
Beyond operational automation, Open Banking provides vital credit data. With explicit member consent, platforms can analyse broader financial histories to assess creditworthiness more accurately. This broader financial visibility significantly improves risk assessment and enables safer lending practices.
What strategies can micro-fintechs use to balance regulatory identity requirements like BVN/NIN verification against processing costs when handling micro-savings and small loans?
Integrating identity verification naturally into the initial user journey is essential for regulatory compliance. However, when managing micro-transactions, third-party verification API costs can rapidly erode unit economics if not structured efficiently.
Platforms must design verification workflows intelligently to avoid redundant API calls. Reusing verified identity data across multiple services and selecting cost-effective verification vendors helps control overheads.
If verification costs exceed the lifetime value or margin generated from a low-value account, the business model becomes unsustainable. Maintaining viable unit economics requires balancing strict compliance with optimized verification architecture.
How can cooperative software integrate white-label APIs to offer high-yield micro-investments, health insurance, or credit facilities directly to end-members within the platform?
Once a software platform establishes operational trust with a cooperative and its membership, it serves as an efficient distribution channel for third-party financial services.
Rather than developing specialized financial products in-house, the platform can integrate white-label APIs from licensed financial institutions. This allows members to access regulated investment vehicles, health insurance plans, and credit facilities directly within their existing application interface.
Rigorous partner selection is essential. All integrated financial products must be underwritten by fully licensed, regulated entities. The platform provides the distribution network and technological infrastructure, while regulated partners manage the underlying financial risk and compliance.
What system-level security measures, dual-authorisation mechanics, and real-time audit logs are required to prevent insider misallocation of funds within self-governing cooperative societies?
Software provides critical structural controls that significantly reduce financial mismanagement in self-governing organisations. Traditional setups often rely on one or two individuals holding sole access to bank accounts and ledgers, creating a structural risk through lack of oversight.
Digital platforms enforce strict separation of duties. For example, transaction workflows can require one executive to initiate a payout and a second authorised official to approve it before funds are released. Role-based access controls ensure that administrators, treasurers, and board members possess permissions aligned strictly with their governance roles.
Furthermore, immutable real-time audit logs record every system action, capturing timestamps, user identities, and specific data modifications. While no software can completely eliminate human fraud, robust access controls and transparent audit trails make unauthorised actions difficult to execute and straightforward to detect.
How should the core architecture of a Nigerian cooperative SaaS be modularized to allow seamless expansion into similar community savings ecosystems across Africa, such as SACCOs in East Africa?
Expanding across African markets requires separating core financial mechanics from country-specific operational and regulatory logic. The fundamental primitives of community finance member management, contribution tracking, loan issuance, ledger accounting, and governance are consistent across different markets.
These common primitives form the modular core of the platform. Conversely, regulatory frameworks, identity verification standards, currencies, local payment gateways, and regional accounting practices are isolated into configurable modules.
Architecting the platform with clear separation between core ledger logic and localized business rules allows expansion into new markets, such as Savings and Credit Co-operative Societies (SACCOs) in East Africa, without rewriting underlying software systems.