Fintech 2019 predictions revisited: What really happened?


2018 was the year of fintech startups in Nigeria, especially with respect to funding activities as well as prominent industry moves and regulations.

In December 2018, Trium Networks CEO and Open Banking Nigeria trustee, Adedeji Olowe, in a Twitter thread, pointed out some of the interesting things that he expected to happen within the fintech space in 2019.


Suggested Read: Payment Service Banking will flop; 2019 financial prediction by an expert


Some of his predictions actually came true, whether directly with the aid of regulation or not.

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Olowe expected inter-bank transfers would become higher than ATM cash transactions for the year.

Interestingly, interbank transfers already had higher values than ATM transactions according to Nigeria Inter-Bank Settlement System’s electronic payments fact sheet  (PDF) for 2018.

Payment Service Banks (PSBs) would flop?

It was also expected that PSBs, whose regulation and guidelines were released last year, would fail. After its introduction, both MTN Nigeria and Airtel Nigeria revealed their plans…



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