Nigeria FinTech Landscape - Impact Assessment
Deep dive -Julie's pain points from the financial sector
Accounts
Savings
Pain points
■ SMS, intra-bank transfer charges, and also hidden
charges
■Lack of clarity on bank fees and charges e.g. card
maintenance fee,
Slow and unreliable issue resolution
Daily transaction limit - alternatives/ exemptions for
emergencies
■ Lack of targeted savings options, for both long term and
short term plans
■Low interest rates on savings products
SOURCE: Customer interviews (n=215), team analysis
Quotes
6655
ララ
I don't know why I am charged for SMS, when
the transaction detail gets sent to my email
We need to be educated on what ATM
maintenance charge means, and why we have
to pay it
6655
There are no available platforms savings goals,
and the interest rates are low
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