While the entire fintech industry is usually less understood by most consumers, it is quite an achievement that fintech companies raised $40 billion in 2018. If there was one trend in the last year, it’s been growth. Considering that the industry is showing exponential patterns of growth, it is important that consumers are always on the lookout for the latest developments.
Use of technology innovation and digital inclined financial services has seen a remarkable endorsement in Africa. Mobile money accounts are growing and could overcome the number to those of financial institutions in Africa. The importance of digital financial service is enormous.
Have you ever heard of financial democracy? No, me neither. But you've likely heard or read stories about the increasing inequality in wealth distribution. In my view, the key factor that contributed to our financial system crash was not determined by individual misbehaving, but rather by the failure of the system itself-where decision power is centralized within an array of institutions.
When it comes to customers, experience is everything. Customers don't differentiate between small organizations or larger ones, nor differentiate between channels, once they enjoy the best level of satisfaction and best quality service then, they expect same kind of experience from a small firm as they do a larger one.