Nigeria FinTech Landscape - Impact Assessment

Nigeria FinTech Landscape - Player archetypes Based on emerging trends and learnings from other markets, 3 archetypes of FinTechs will continue to exist in Nigeria Ecosystem orchestrators (Fintech 3.0) Mid-sized niche players (Fintech 2.0) B2B enablers (Fintech 1.0) Description Large, deeply funded players, operating as a platform/superapp that acts as a gateway for customers to a wide range of services beyond financial services (e.g. transportation) ■ These type of players could also be 'TechFin'- technology companies with existing customer bases that offer financial services as an add-on offering ■Longer tail of medium sized businesses who are focused on executing on individual verticals (e.g. payments, savings) or geographies (e.g. Northern Nigeria) or segment (e.g. SMEs) Experience in other markets suggest, these type of players thrive in their domain of expertise, solve distinctly local problems and are often acquisition targets for the larger players FinTech focused on enabling banks, telcos, corporates or other FinTech to improve their offering ■ Could start out as B2B or have pivoted from a B2C model with a great product but limited traction and challenging Source: Expert interviews, Web search economics Indonesia examples India examples Nigerian examples GO JEK Paytm P OPay Grab Мока Kredivo Buy now, Pay later C88 al akulaku LENDINGKAT Pine Labs policy bazaar Insurance compare kiya? TM com → piggyVest Bankly W digit CRED paystack carbon Mbiz redcarpet P EFINA 61

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