Here’s the 3rd edition of my fintech predictions. Let’s see the 10 most important things that would happen within the Nigerian fintech arena in 2020:
#thread #10fintechpredictions2020
#thread #10fintechpredictions2020
But first, how did I do in 2019? Check out an extensive review of my #10fintechpredictions2019 by @Techpointdotng . Read more here: techpoint.africa/2019/12/30/fin…
Prediction #1 Commercial banks will still fail at retail credit despite @cenbank regulatory push. They don't have the DNA and you can't teach an old dog a new trick. Fintechs will continue to dominate retail loans #10fintechpredictions2020
Prediction #2 Account-based payments for web transactions will rapidly overtake and eclipse card-based payments. #10fintechpredictions2020
Prediction #3 @mtnng gets its long-awaited PSB license. Boom! Trouble starts for most bankers #10fintechpredictions2020
Prediction #4 Monthly interbank transfer hits 300m/month as low-value transfers rise. It's already cheaper to pay for your bread and Ewa Agoyin with transfer than taking a keke. #10fintechpredictions2020
Prediction #5 @opay_ng will become one of the top ten banks in Nigeria - by themselves or by buying a commercial bank when the traditional bankers start to beef them. Chinese money! #10fintechpredictions2020
Prediction #6 @cenbank kickstarts Open Banking (disclosure, I’m a trustee at @openbanking_ng so this is as much as a prayer and as a prediction) #10fintechpredictions2020
Prediction #7 Agency banking explodes to over 1M agent touchpoints #10fintechpredictions2020
Prediction #8 A heavy hitter launches a digital bank, relegating all existing small players to the appendix of fintech pages #10fintechpredictions2020
Prediction #9 A prominent international player buys a major fintech (think @theflutterwave, @paystack but not @InterswitchGRP). If your boo works in a fintech, don't break up this year #10fintechpredictions2020
Prediction #10 @WhatsApp launches the next payment play in Nigeria using @Facebook Pay. Nigerian fintechs start pricing gravediggers #10fintechpredictions2020
Bonus prediction #11. Most of 1 to 10 will not happen but then who cares?
