Nigeria FinTech Landscape - Impact Assessment
The Nigeria FinTech Landscape - Evolution
.....with FinTech innovation creating more opportunities than threats for incumbents
Nigeria FinTechs have driven
technology enabled innovation
around four areas....
... these themes can be leveraged by incumbents to drive
adoption at scale
Lending criteria
Distribution (decoupling
from branches) and ex-
tension of access (24/7)
Product development
Customer experience
SOURCE: McKinsey
No
مهما
Threat
Opportunity
Fintechs are capable of
disrupting current banking
propositions and business
models
However, distribution reach
is limited. Building
distribution requires deep
pockets and/or
partnerships
Leverage Fintech capabilities to rapidly launch new solutions
and drive scale enabling access to finance for all
Use Fintech collaboration as "innovation" engine (e.g. The
Open Vault by OCBC in Singapore)
For example, The Open Vault by OCBC in Singapore is
redefining banking through co-innovation with fintech firms
around the globe
EFINA14View entire presentation