A variety of digital-only banks have emerged over the last decade. These new entities also referred to as neo banks or challenger banks offer modern banking propositions tailored to the smartphone and digital world. They were founded in the aftermath of the 2008 global financial crisis with the vision of making banking services more accessible and equitable. These digital banks are setting the benchmark for the future banking market.
There are already more than 450 digital banks worldwide and they are growing rapidly in both number and size. Nevertheless, there are still many opportunities in specific service areas and geographic markets.
Following suit on our series of geographic industry reports on digital banking around the world, this edition focuses on the regional market environment of Sub-Saharan Africa. The analysis provides an overview of the economical and cultural dynamics of the region taking into consideration the fragmented banking infrastructure and arising technological advancements. Beyond the market environment, the report further deep dives into the existing digital banking market and characteristics of successful newcomers that stand out in between the current competitive landscape. In the end, the document outlines a selection of carefully assessed opportunities together with actionable advice on success factors for new players to enter the Sub-Saharan African banking market.
The report is informed by various interviews with experts on the Asia Pacific banking market and draws both on existing research and analysis performed by BPC and Fincog to provide the highest quality of information to our clients.
Download your free copy here: Digital Banking in Africa
