BY TEMITOPE OLUBIIRE
In recent times, crowdfunding, crypto currency, and the likes have been the big deals in this country even overseas and through it, most people both young and old have become successful and financially stable.
According to PWC 2017 fintech survey report, over 62% of customers will use mobile applications to access financial services within the next 5 years.
The truth is that fintech is not new! It’s existence can be dated back to 2008 after the global financial crises. Through fintech, the likes of ALAT has made financial services easier and faster. Also, making use of platforms like paystack and Flutterwave has been one of the commendable works fintech is doing because most business men have seized the opportunity to make payments easier for their clients or customers as the case may be.
I personally see no reason why someone will still be going about borrowing, when we have private lenders like Lidya, Quick check, and Paylater, these platforms are plowing hundred of millions of naira into alternative lending spaces in Nigeria. Saving and finance tracking hasn’t been as easy as it is now, as you can make use of PiggyBank (Nigeria) and some other online saving platforms across the world to save, and Kilqr for managing your expenses.
Now tell me, what is it that fintech is not doing? The only thing most startups lack is information. Aside from that, starting up a business has been made easy which is why I’ll say fintech has really opened up a world of possibilities for small businesses.
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