Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/bcm/src/dev/www/wp-includes/functions.php on line 6121
FinTech | Zikoko!
  • We Need These Solutions More Than Financial Service Apps

    We Need These Solutions More Than Financial Service Apps

    Tech bros need to focus on building other products that are clear of payment  apps. It’s even a few percent of the population that has REAL money to spend.

    These are some other avenues we think tech should be exploring or going all in on Nigeria.

    Price haggler

    This app is the marketplace you go to without actually being there physically. It’ll let you know where you get cheap products and when you can get the best deals. Who doesn’t like having options?

    Event centre bookings

    Honestly, there’s no point in making tiring calls or jumping from bike to bike before you can book an event hall for your ceremonies.

    Booking a venue for your owambe parties should be just a few clicks away.

    Pay with feelings 

    If tech bros will build more payment apps, we should get one where we can pay with our feelings. You can do it, ICT guys. Please, Zikoko has no answers on how to fund your feelings.

    The bodyguard

    This security app will store all your personal data and the tracking chip that comes with it can be kept between bundles of your naira notes. So, when the police or kidnappers try to get money from you, their location can be easily traced through the money.

    Agbero e-ticketing 

    Can’t we get an e-ticketing system instead of the agberos? Although their employment rate will go down, isn’t having fewer “egbon adugbo” harassing us for money we don’t have what we pray for?

    Biogas

    Generating energy from waste is a very great idea, and it’s something our tech bros with funds should look into. Biogas can be extracted from waste using a digester and then used to power a generator. Imagine your cassava peels or eba from three days ago replacing fuel and generator. Waste management and sustainable energy >>>>>>

    Serving breakfast

    Tbh, we need an app for all the people who have been served breakfast, so heartbroken people don’t meet their aggressors again. No to a second-time suffering, IJN.

    Or is there something tech bros can build for upcoming Burning Ram festival?

  • Empowering Small Businesses in the Digital Age: Success Stories From Nigeria’s Fintech Landscape

    Empowering Small Businesses in the Digital Age: Success Stories From Nigeria’s Fintech Landscape

    In the bustling streets of Nigeria, small businesses form the backbone of the economy, contributing significantly to job creation and economic growth. However, many of these enterprises face numerous challenges in accessing financial services, hindering their potential for expansion and prosperity. Fortunately, the fintech revolution has swept across the nation, offering innovative solutions that empower these businesses to thrive in the digital age.

    For decades, small business owners in Nigeria have struggled to navigate the traditional financial system. Setting up merchant accounts and accepting digital payments has been a cumbersome process for small businesses, further hindering their ability to participate in the digital economy. The absence of a reliable and efficient payment infrastructure has been a significant hurdle for businesses that aspire to reach a broader customer base.

    Enter the fintech revolution, a transformative force reshaping Nigeria’s financial landscape. Fintech companies have seized the opportunity to address the needs of small businesses by offering tailored solutions that bypass traditional obstacles.

    Furthermore, mobile banking apps and digital wallets have become instrumental tools for small business owners. These platforms provide easy access to financial services, empowering entrepreneurs to manage transactions, monitor cash flow, and make seamless digital payments. The convenience and efficiency of fintech tools have fostered a sense of financial inclusion and empowerment within Nigeria’s small business community.

    timeline

    The transformative power of fintech solutions can best be understood through the remarkable success stories of small business owners across Nigeria. One such inspiring tale is that of Kemi, a fashion entrepreneur based in Lagos. Faced with the challenge of expanding her business and reaching a broader audience, Kemi discovered a fintech platform that simplified the process of setting up an online store.

    Traditionally, establishing an online presence and selling products online required significant technical expertise and financial resources. Kemi, like many other small business owners, found it challenging to navigate the complexities of website development, payment integration, and online marketing. However, with the emergence of user-friendly fintech platforms like WayaGram, the process became accessible to entrepreneurs with limited technical knowledge.

    Similarly, Musa, a street food vendor in Abuja, faced challenges in accepting digital payments from customers. With the help of the mobile payment feature that WayaGram offers, Olu revolutionized his business, offering cashless payment options and attracting a new wave of tech-savvy customers. The convenience and safety of digital transactions have propelled Musa’s business to new heights, solidifying his place in the modern digital economy.

    As Nigeria continues to embrace the digital era, fintech solutions have proven to be instrumental in bridging the gap between small businesses and financial services. The rise of digital lending platforms, mobile banking apps, and digital wallets has empowered entrepreneurs to overcome traditional barriers and seize opportunities for growth.

    Through the innovative spirit of fintech, small businesses are unlocking their full potential and contributing to Nigeria’s inclusive prosperity. As we witness the dawn of a new digital age, let us celebrate the success stories of entrepreneurs who have harnessed fintech’s transformative power, fostering economic growth and uplifting communities across the nation.

    WayaGram is available on Android and iOS by clicking HERE.

  • “I’m a Firefighter at My Job” — A Week in the Life of a Fintech Marketer

    “I’m a Firefighter at My Job” — A Week in the Life of a Fintech Marketer

    A Week in the Life is a weekly Zikoko series that explores the working-class struggles of Nigerians. It captures the very spirit of what it means to hustle in Nigeria and puts you in the shoes of the subject for a week.


    What’s it like managing the social media of a fintech company in Nigeria? Today, we explore A Week in the Life of Peace Obinani, a product marketing manager. She tells us about fighting fires while handling her company’s social media, quenching widespread rumours and managing a community of non-tech people who work in tech.

    SUNDAY

    I’m in church when a serious problem begins at work: account numbers are not working and credits are not reflecting on time. Withdrawals are being delayed by our payment processors and people are panicking. Ideally, it should not be much of a big deal because nothing is wrong with anyone’s money, but fintech is still in its formative years and Nigerians are still just learning to trust it. 

    I do my best alongside my team to manage our customers; it’s really difficult convincing a customer new to trusting apps on their phone with their money that their payment is being delayed for whatever reason. 

    Right there in church, I draft official statements and responses, and engage our audience to curb the mass panic, while the product team finds a solution and quickly pivots to another bank. I also post helpful Twitter threads on the company’s social media accounts.  

    I’ll spend the rest of the day letting people know about their new account numbers and reassuring them about the safety of their funds.

    Today is a lot but I wouldn’t have it any other way. Do I sometimes wish that perhaps, I could just switch off and do normal Sunday things? Maybe, but I don’t want an overly structured schedule. I’m fine with the chaos. People might say I’m a workaholic but I’m fully invested in everything I do and I really don’t want to be confined to strict daily routines.

    MONDAY

    No Nigerian fintech company ever wants to trend for the wrong reasons.  Anytime we start trending on Twitter, it leads to a chain reaction: people start asking, “Why is the company holding my money trending?” And before you know it, panic ensues.

    People are now used to seeing us trend, so they no longer panic as much — this makes my work a little easier.  There’s a lot of work overflowing from yesterday’s situation, so I’m trying my best to ensure things remain calm. 

    After work, I’m proud of my job today. I’ve always done social media, but in university, I thought I’d pursue a career in events production. I dreamt of producing a show for Beyonce and bringing her to Nigeria. I wanted to go to production school abroad and work on events like Coachella.

    In my final year of university, I was saving money for life after school and I used my current company’s savings app. But I didn’t know it was a big deal. It was when I got the opportunity to work as a social media manager in fintech that I realised how much of a gamechanger it would be.

    I’ve been doing events for 10 years, so when the time came for my company to organize marketing events offline, it was only natural that I’d transition from just social media management to full-on marketing.

    I love being a product marketing manager, simplifying my company’s products in a way that’s easy to understand and making sure that as many people as possible know about us and grow to love us. I enjoy being at the centre of everything — I’m a dot-connector — a bridge across different departments and units: engineering, support, social media, legal, the product team, etc.

    TUESDAY

    I woke up at 10 a.m. today and there’s a bunch of messages and missed calls waiting for me. In my line of work, there’s no start time or stop time. It’s wake up and jump-start.

    But having to deal with Nigerians takes a lot of patience. As a people, we’re paranoid about money, so fintech is very sensitive and there are so many uncertainties. My life can be going nice and smooth, and then something just comes along and shakes my equilibrium; in a second, everything turns upside down.

    There are days when Nigeria conspires against me and everything moves mad. I do my best to explain. Sometimes the problem is not from us — there are other parties involved for things to run smoothly – sometimes it’s banks, other third parties or even CBN.. But people trust traditional banks more than fintech companies and are quick to point fingers at us when something goes wrong. 

    It’s very challenging having no clear work-life balance, but I find fulfilment from managing situations like these.

    WEDNESDAY

    Problems never end! Everything was going fine, and I took a short nap only to wake up minutes later to my phone blowing up. I get myself together and find out what’s going on: someone spread a rumour about a billion naira scam on social media, and now I’m back to firefighting.

    Rumours are dangerous for our line of work. It’s common for customers to aggravate an issue they’re experiencing. Because we play in a very low trust environment and the people peddling these rumours are somewhat influential, other people just run with it.

    Sometimes, I wonder about having a regular 9-5 job, but I’m not sure if it’s what I really want. I’m calm even when it gets overwhelming. I do this by continually monitoring everything, so I can quench the fire as soon as it starts, no matter how small. Even if someone texts at midnight to ask why they withdrew their ₦2k and haven’t received it, I can’t ignore it because in the morning, I may wake up to meet the internet on fire. You never know.

    THURSDAY

    After work today, I’m managing a community of non-tech people in tech called… Non-tech in Tech. It started as a joke: last year, I wanted to develop a personal brand, but I didn’t want to be one of those people who only tweeted the same thing every day. As a non-technical person working in fintech, I created a Twitter account to drag tech bros, catch cruise and connect with people in my field.

    The vision wasn’t entirely clear at first. But one day, I realised that many people looking to transition into tech believe the myth that one must be a developer to get jobs in tech companies. I decided to make Non-tech in Tech a community. I created a Slack channel and started posting jobs, courses and scholarship opportunities. People volunteered to help manage the community, and we have been growing ever since.

    FRIDAY

    All my friends and colleagues live close to me, so it’s easy to keep in touch outside of work. We’re having fun this weekend. It’s been a crazy week but we got through the challenges. 

    My colleagues know how to unwind! And we’ve found a way to have fun even though we’re always busy. We could be clubbing while pressing phone and solving problems at the same time, but we still find our way to have fun. We’re now used to the life.

    Today, we’re going to eat nkwobi and drink beer because, ladies and gentlemen: it’s the weekend!


    Check back every Tuesday by 9 a.m. for more “A Week in the Life” goodness, and if you would like to be featured or you know anyone who fits the profile, fill out this form.

  • Crowdyvest Re-launches App With New Investment Offers

    Crowdyvest Re-launches App With New Investment Offers

    Crowdyvest Limited, a fast rising Nigerian fintech company which creates an all-encompassing financial solution from savings to investment, has re-launched its mobile app with new investment opportunities.

    Currently available on the Apple and Google Playstore, the newly re-launched Crowdyvest mobile app has a very neat user interface which is easy on the eye, with both mobile and desktop versions showing no major difference. The funding process on the app is hassle-free and the app is also very easy to navigate on both desktop and mobile to deliver a seamless and enjoyable experience for its existing and prospective users. Speaking on the revamped mobile app, Tope Omotolani, CEO of Crowdyvest said “We aim to become the platform that helps our members plan and structure their finances through the different range of products we offer.

    “As we work with organizations in different sectors to power viable and impact-driven projects through the funds we raise from our members, a symbiotic interdependence is created, leading to financial and economic growth for all. We believe this partnership is needed to foster growth and create more opportunities for Africa.”

    The re-launched app has introduced a couple of new financial products which include the Crowdyvest Yield. The old app had only the Vault, pace and flex Savings products, Hyperplan investment product and Crowdyvest Tribe, a platform built on the foundation of community-driven savings and wealth creation, to drive collectivity and foster growth for individuals and businesses but the revamped version has not only included additional products, it has also grouped all Crowdyvest investment offers under one segment known as Crowdyvest Yield.

    Crowdyvest Yield is a catalog of alternative offers that include commodity-specific projects and discretionary plans available to members ranging from short to long term tenors across a wide range of sectors. It consists of the HyperPlan – an impact-driven funding opportunity where users/investors can earn as much as 21% returns on investment, Project investment which is an alternative investment and commodity-specific type of offer in different sectors, in partnership with pre-vetted impact partners and many more. You can earn as much as 25% returns on project investments.

    This new distinction will provide Crowdyvest users a variety of suitable plans to choose from as they build a savings and investment culture based entirely on their capability with product prices as low as ₦1,000 and returns up to 25% per annum. They also have a wallet that gives up to 3% interest per annum. You can share funds from your Wallet with friends and family who are Crowdyvest members, at no charge at all.

    In addition to the upgraded features and newly introduced products of the app, Crowdyvest has partnered with UBA Global Investor Services Limited and Parthian Securities Limited; an investment brokerage firm licensed by the Securities Exchange Commission (SEC) to ensure proper fund utilization, transparency and compliance thereby assuring its users of the safety of their funds.

    How It Works

    On launching the Crowdyvest app you’re taken straight to the log-in/sign-up page where you’re expected to create a new account as a new user or log-in as a returning one. Once you click on the “create one” option, you’re instructed to choose between creating an individual or business account. The user is then instructed to fill in basic details like name, surname, password, username, email address, phone number, gender, date of birth and in the case of a business account information like business name, business date of birth is also required.

    You will then be required to verify your account with a passcode sent to your mail. Once this is done, your Crowdyvest account is ready for use. You will however be instructed to fill in your bank details and create a 6 digit security PIN to carry out any financial transaction. Once you type in the name of your bank and account number, the name attached to that bank account (which is your full name) shows up. Your BVN is also required. This takes less than 5 seconds to be verified by the app. You are then required to create a 6 digit security PIN to complete transactions. Once the PIN is created, a passcode is sent to your mail to authenticate it and you’re now fully ready to use the Crowdyvest mobile app.

    How To Navigate The App

    Having done the necessary registrations, the account is now ready for use. On the homepage there is a column on the right of the screen with several icons on how to use the app. It includes: the homepage, portfolio, savings (vault, pace and flex), yields (hyperplan, project, etc.), deals and offers, transactions and profile icons through which new users can easily navigate their way through the app. The entire process takes less than 7 minutes, after which you can begin your journey to financial freedom via a seamless and hassle free online banking experience.