Nigeria FinTech Landscape - Impact Assessment

Global FinTech Enablers - Open Banking Open Banking/ PSD2 is now a reality in various countries, leading to diverse product offerings from all types of industry players. Present in 36 markets & products that account for ~90% of global revenue pools Stage of adoption Stage 3 FinTech enabled by PSD2/Open Banking YOLT Yolt enables users combine their current accounts, credit cards and pensions in one view, reaching 500k customers in ~1 year since launch Stage 2 Grant licenses Stage 1 Transpose to national law Industry consultation, draft regulation Revolut MAL ITA BEL *HKG FIN HUN FRA USA SPA IND IRL DEN CAN NED JAP CZE SWE MEX NOR AUS GER UK Regulator-led CHN KOR TWN RSA ARG THA + SWI IDN UAE BRA SIN TUR RUS SOURCE: McKinsey, press search Revolut app enables users to track their Revolut transactions connect external bank accounts to the app Market-led raisin. Raisin's open banking partnership with Santander means that Santander customers can authorize the sharing of their data with Raisin leading to the registration process for Santander customers to access Raisin's products through the "Santander Connect" button will be easy and simple EFINA 100

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