Rex Africa has launched an AI-powered banking platform in Nigeria that combines everyday financial services with an artificial intelligence assistant designed to help customers make decisions about their money.

The platform went live on October 30 and features Rex Atlas, an AI-powered financial agent that analyses customers' financial history and provides guidance on saving, investing, borrowing and managing financial risks. According to the company, Atlas goes beyond conventional banking apps, which primarily handle balance checks and transactions, by helping users understand their financial habits and make decisions based on their individual circumstances.

The launch comes as Nigeria makes progress in expanding access to financial services while continuing to struggle with financial well-being. According to the 2026 Access to Financial Services in Nigeria survey by Enhancing Financial Innovation and Advancement (EFInA), formal financial inclusion increased from 64% in 2023 to 73% in 2026. However, only about one in four Nigerian adults is financially healthy, suggesting that access to financial services has not necessarily translated into financial security.

Rex Africa is positioning its AI assistant as a way to help address part of that gap. The launch also places the company in a Nigerian digital finance market that already includes established digital-first providers such as Kuda, Moniepoint and OPay.

"We built Rex with AI at the heart of the banking experience, not as an additional feature," Opeyemi Emmanuel, the company's chief technology officer, said.

The company says its proprietary infrastructure, RexCore, was built with artificial intelligence integrated from the beginning. Atlas sits on top of this infrastructure, providing the conversational interface through which customers can receive financial guidance.

Beyond the AI assistant, the platform provides savings, credit and payment services for individuals and businesses. Its individual offerings include RexSave for flexible savings, RexVault for fixed-term savings, RexFlex for credit and RexCard for payments. Businesses can use RexPOS to accept payments and RexCredit to access financing.

The firm operates through Rex Microfinance Bank Limited, which the company says is licensed and regulated by the Central Bank of Nigeria. Microfinance banking is a distinct licence category under the central bank's regulatory framework, separate from commercial banking licences. Eligible deposits are covered by the Nigeria Deposit Insurance Corporation, subject to applicable limits.

Rex Africa also says it runs a lending business and a Banking-as-a-Service portal that supports accounts, collections and payouts.

The company describes itself as Nigeria's first AI-native bank, arguing that artificial intelligence is embedded in its banking infrastructure rather than added as a separate feature. It has, however, not provided independent evidence establishing that it is the first Nigerian financial institution to adopt this model.

Rex Africa has also not disclosed specific figures for customer numbers or transaction activity, saying only that it has attracted thousands of individuals and hundreds of businesses since launch.

The bigger test will be whether its AI assistant can offer useful, reliable financial guidance beyond the basic functions already available through digital banking apps. How the platform handles customers' financial data, and the accuracy of its recommendations, will also matter as it grows, as will whether the company publishes specific customer and transaction figures to substantiate its early traction claims.