Oluyomi Ola-David Insights

To the rich Debt is capital To the poor Debt is shameful To the rich  Play is work To the poor Work is play To the rich People are machines To the poor People are humans To the rich Solitude is fun To the poor Party is fun To the rich Time is priceless To the poor Time is money To the rich Failure is progress To the poor Failure is terminal To the rich Knowledge is tool To the poor Knowledge is power To the rich Risk is return To the poor Uncertainty is risk To the rich Life is good To the poor Struggle is life To the rich Investment is real To the poor Saving is real To the rich Passport is thought To the poor Education is passport To the rich Yesterday is best To the poor Tomorrow is best ... Photo credit: Oluyomi Ola-David

Whoever says newcomers are not welcome is certainly a cruel old-timer. The newcomers in the Nigerian finance market are certainly shaking complacent old-timers awake from their slumbering on status quo couches. We call these newcomers in finance,  fintechs. They tend to leverage modern technologies to provide seamless and bespoke financial services. In economies where financial sector growth had been abysmal and informal sector prevalent, the stream of new entrants in finance is refreshing breeze.  Most fintechs are not usually burdened with the costs of running a network of physical bank branches like counterpart old-timers, and their employees may as well work remotely. Whoever says driving primarily for profit is critical for new business is certainly not a newcomer seeking first to achieve a clientele benchmark. In order to woo clients, fintech offer advantages that many traditional bank models cannot afford. Fintech account subscription promotion strategies include bonuses for sav