Artificial intelligence and automation as drivers of market expansion in Nigeria’s fintech sector: A systematic review

Abstract

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.