Nigeria FinTech Landscape - Impact Assessment

Nigeria FinTech Landscape - Impact Assessment FinTech activity has the potential to grow financial services revenue pools Corporate Expansion of product offerings Increased payment volumes due to value chain digitization Cannibalization of traditional bank offerings Increased lending through automation of lending processes SME Expansion of accounts & deposits by formalizing informal SMEs Reduced margins e.g. by offering interest on current Increased revenue pool from online payments Digitization of cash collections Reduced margins e.g. on transfers Retail SOURCE: Team Analysis accounts Increased revenue due to higher interest rates + Increased inclusion into the formal credit system Disintermediation through B2B lending Increased investment by SMEs Increased access and adoption of products Reduced premium margins New customers by creating increased access to accounts for BOP Reduced margins on accounts for conventional customers Digitization of cash payments Value add services e.g. expense tracking, advisory etc. Reduced margins on payment fees Increased revenue due to higher interest rates Increased inclusion into the formal credit system Accounts Payments Lending Increased savings mobilization due to ease of use & education Formalization of savings Increased access to wealth products e.g. stocks Reduced overall margins due to higher interests Cannibalization of traditional savings accounts Offshoring of value from foreign investments Savings & Investment Increased access and adoption of products Reduced premium margins Insurance EFINA 66

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