
Bro to Bro : Can you share a financial update?
UNCLE
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@MrOlibaba
Analyst💯| Building @Lenflex | Building @Waploan | Arsenal |

Bro to Bro : Can you share a financial update?







@MrOlibaba the next shock is the complete take over of the MSMEs credit sector by MFBs, fintechs & digital platforms. I foresee this in next 5years. With Ai enabled credit appraisal system because fintech have the data, the battle is shifting to MSME loans.



Them never born some of una when we dey buy this indomie 35 Naira



When you find out how much commercial banks are making from your savings







@MrOlibaba In finance, master is like jara



Banks are losing money. Commercial banks are losing the retail market to fintechs and they're struggling to catch up. I mean it, if you know anyone working in a commercial bank as a marketer under retail they will tell you the pressure they're facing from management on account opening. Some have crazy targets of 30 daily account opening. The mass market have adopted Fintechs and this have deplicted the banks customer acquisition and liabilities. Fintechs are doing what banks failed to adopt. Nigerians have moved. With fintech app you can pay bills and get small cashbacks. Banks don’t offer that. You save money and see your interest upfront. No stories. You can open a Tier 3 account on your phone. No paperwork, no back and forth for KYC, no unnecessary limits. You can hold savings in dollars, euros, pounds. Your phone number can serve as your account number. You can access loans directly on the app without stress. Commercial banks have lost the retail market to Financial institutions.
