Nigeria FinTech Landscape - Impact Assessment
Definitions
FinTech
InsurTech
☐
■ A technological innovation in the prevailing model of delivering financial services
☐
Technology-led companies that enter the insurance sector, taking advantage of new
technologies to provide coverage to a more digitally savvy customer base
RegTech
Blockchain
ΑΡΙ
GSI
■ Companies that address regulatory requirements using technology
■ A cryptography-based database technology and enables trustless storage and sharing of data
Application programmable interfaces (APIs) enable the IT function to conveniently build and
implement new applications in the ecosystem.
■ Global Standing Instruction - links Bank Verification Number (BVN) of all depositors to show
credit history of debtors with all banks thereby preventing further loan for defaulters
EFINA
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