As traditional Nigerian banks struggle with increased demand for digital payments, customers are turning to fintech startups like OPay, Vbank, and Pocket.
While these apps offer reliable alternatives, they also have their own issues, and disruption of the traditional banking sector will require cost-effective customer acquisition, innovative use of data, and leveraging existing infrastructure.
Customer distrust of traditional banks is high, but it’s still early days for fintech disruption.
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