Nigeria FinTech Landscape - Impact Assessment
Nigeria FinTech Landscape
Across all profiles, there are significant pain points across the financial services
value chain which if solved can foster financial inclusion
Segment
BOP and
informal
mass
Formal mass
and youth
Middle and
young
Customer pain-points
■
Lack of limited access to financial services products
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Pricing of products is greatest barrier to adoption.
affluent
SME owner
&
Senior
affluent
Lack of tailored, products to cater to needs of population (account
benefits, saving)
Unaffordable rates for financial services products (lending,
insurance)
Poor user experience on various platforms
Limited value added services / benefits from using products.
■ Limited access to lending products at favourable rates
■
Limited access to POS terminals due to high volume requirements
■Limited availability of value added service such as advisory /
estate planning
■ Poor user experience
Fintech offerings to address
customer pain points
Fast, affordable
payments
Cash in, cash out
Flexible savings
& investments
Quick loans
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