Nigeria FinTech Landscape - Impact Assessment
There are opportunities to serve the BOP with tailored financial product that could drive
increased DFS adoption
Micro
Insurance
Micro savings■
Micro loans
Key features to be considered when designing products
Offer insurance products (health, agricultural products etc.) to
BOP customers with flexible premium options for regular
micro installment (N200 - N1000) per month paid daily,
weekly/bi-weekly
Develop unique and tailored value proposition for savings
products
Pay interest based on tiered model – increase interest as
wallet balance grows (ranging from 2%-5%)
■ Provide microlending products to customers with little to no
prior banking history
■ Use alternative data sources (e.g. transaction data, community
guarantee etc.) to develop credit scoring in order to assess
credit-worthiness and assign limits
■ Limit loans to 30-60 days to reduce chances of default
Emerging market examples
Milliman
NHIF
BIMA
PROTECTING THE FUTURE OF EVERY FAMILY
GOXI
MICROINSURANCE
Pafupi
Savings
M Shwari
kiva
musoni
Next Generation Microfinance
CEBUANA LHUILLIER
MICRO SAVINGS
Requirements Interest More Details!
ISENSEY
MOKash
MY SAVINGS, MY LOANS
Source: company website, literature review,
EFINA
McKinsey & Company
176View entire presentation