Nigeria FinTech Landscape - Impact Assessment
Deep dive -Anita's pain points from the financial sector
Pain points
Accounts
■Lack of transparency on bank charges
■ Limited interaction with RM to determine next best
product/service to use
Savings
■Low returns on savings
Savings account usage similar to current account
Loans
High interest rate on loans
Long application process for credit facilities
Quotes
6655
GG
55
66 99
6635
I don't trust the charges I get from the bank. I
think most of them are suspicious
My RM has never told me about the different
products the bank offers so I just use other
platforms
I use my savings account card for my daily
transactions so it does not even feel like a
savings account
Loan application is very stressful. They ask for
too many documents and the high interest rates.
are too high
SOURCE: Customer interviews (n=215), team analysis
EFINA
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