Nigeria FinTech Landscape - Impact Assessment
Deep dive -Emeka's pain points from the financial sector
Accounts
Savings
Loans
Pain points
■Lack of clarity of bank charges including ATM
maintenance charge, account charges
Poor security of:
-
-
Bank's mobile app, making it accessible to
thieves
Customer's information, making them prone to
scammers
Quotes
6655
6699
66 99
I don't understand what all these charges mean,
and why I have to pay them
The bank staff are so rude. If I have my way,
won't go to the branches again
Last year, my phone got stolen, and money was
transferred from my bank account
No targeted savings platforms for children tuition, rent
Low interest rates, causing low returns on savings
High collateral requirement for loans
High payback interest rates
SOURCE: Customer interviews (n=215), team analysis
6699
6695
Better interest rates, would lead to better savings
for me
The requirement for loan is too much. I prefer to
borrow from family members.
EFINA
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