Nigeria FinTech Landscape - Impact Assessment
Global FinTech Landscape
API and Cloud technology are most utilized by FinTech, but
Big Data/AA holds potential in emerging markets.
Technology »Description
ΑΡΙ
Set of programming code that enables data
transmission between one software product and
another
Number of FinTech leveraging
tech trend, 2019
476
Cloud
On-demand availability of computer resources
especially data storage and computing power
449
ΑΙ
Using machine learning and artificial intelligence for
activities such as fraud detection and automated
customer support
407
Leveraging data and analytics to provide insights that
allows for more personalized customer offerings
369
Big Data/
Advanced analytics
Blockchain
Other
Biometrics
Distributed ledger and record systems with use cases.
in cryptocurrency, registries & identity systems.
This consists of other tech trends such as Regtech,
Compliance Tech, Internet of Things and Virtual
Reality
Measurement and statistical analysis of people's
unique physical and behavioral characteristics with
use cases in KYC & fraud detection
SOURCE: McKinsey Panorama FinTech Database, Press Search
87
166
143
API and Cloud remain
foundational technology on
which many FinTech are built
Big data and advanced
analytics have become
mainstream globally but still
remain early stages in
markets like Africa
Several new technologies
emerging across Regtech,
ComplianceTech and Internet
of Things
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