I would like to get some insight into the workings of fintech companies here in Nigeria.

- Specifically I am interested in companies that have deployed loan apps eg Branch, Paylater, Sokoloan, Zedvance, Fastcredit etc.

- I am also interested in companies that process electronic transactions (payment of DSTV/GOTv subscription, Ikeja/Eko/Abuja/Enugu Electricity Distribution payments and solutions eg Paga, Quickteller, etc

- Agent banking services eg First Bank's Firstmonie

If you have worked in any company that was involved with any of the above please provide a brief description of the internal processes, minimum capital required, licences and regulation etc.

I want only people who have first hand experience and have a firm grasp of the processes especially if you were in Operations, Finance or Marketing

I will contact you privately to get additional information if I'm convinced that you have the level of experience and knowledge I require

Nitric:
I would like to get some insight into the workings of fintech companies here in Nigeria.

- Specifically I am interested in companies that have deployed loan apps eg Branch, Paylater, Sokoloan, Zedvance, Fastcredit etc.

- I am also interested in companies that process electronic transactions (payment of DSTV/GOTv subscription, Ikeja/Eko/Abuja/Enugu Electricity Distribution payments and solutions eg Paga, Quickteller, etc

- Agent banking services eg First Bank's Firstmonie

If you have worked in any company that was involved with any of the above please provide a brief description of the internal processes, minimum capital required, licences and regulation etc.

I want only people who have first hand experience and have a firm grasp of the processes especially if you were in Operations, Finance or Marketing

I will contact you privately to get additional information if I'm convinced that you have the level of experience and knowledge I require

like what exactly do you require? as per knowledge?

matrixme:

like what exactly do you require? as per knowledge?

Basic requirements for setting up such a company such as capital, equipment, IT and internet connectivity, software requirements etc

An insight into potential profitability margins

Demography of customer base.

Current standing of companies that are already in the business.

Potential gaps in the market that has not yet been explored by current players

I'm expecting responses

I doubt if anyone would take you seriously on here. What you are demanding for requires industry expertise which can't be gotten for free or mere pittance online. If everyone had the knowledge, everyone would be in it.

Anyway, I have been involved in legal and compliance for several fintechs and what I can tell you for free is that there are several ways the loan companies operate. Some operate using a Money Lender's License and some go ahead to purchase MFB Licenses.

Money Lender's Licenses can be gotten officially below 100k and unofficially below 250k. They are issued by the Magistrate courts. MFB Licenses would cost you Millions to purchase a weak MFB and then recapitalize and change the board. Approvals come from the CBN.

The fintech space is becoming increasingly regulated but it's very very profitable.

MrMcJay:
I doubt if anyone would take you seriously on here. What you are demanding for requires industry expertise which can't be gotten for free or mere pittance online. If everyone had the knowledge, everyone would be in it.

Anyway, I have been involved in legal and compliance for several fintechs and what I can tell you for free is that there are several ways the loan companies operate. Some operate using a Money Lender's License and some go ahead to purchase MFB Licenses.

Money Lender's Licenses can be gotten officially below 100k and unofficially below 250k. They are issued by the Magistrate courts. MFB Licenses would cost you Millions to purchase a weak MFB and then recapitalize and change the board. Approvals come from the CBN.

The fintech space is becoming increasingly regulated but it's very very profitable.

Thanks a lot for your input, it's well appreciated