[Transcript] #24: Neobanks (African WealthTech Pt 2) - How TymeBank, Kuda & other digital banks are delivering banking services across Africa
Transcript for podcast originally recorded on Mar 7, 2021
😉 Hello Afrobility readers and listeners!
In March 2021, we explored the burgeoning neobank landscape across Africa, drawing comparisons with NuBank in Brazil, another developing market.
While the monetization models of many neobanks remain unproven, I continue to be impressed by the ability of these consumer fintech companies to offer financial services at significantly lower costs than traditional institutions.
Companies discussed: Nubank, TymeBank, Kuda Bank, Umba, DoPay, Zazu, PiggyVest, Cowryrise, Risevest & Bettr
Business concepts discussed: Retail banking strategy, African customer segmentation strategy & low-end disruption
Enjoy & DFTBA!
Olumide Ogunsanwo
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Transcript starts here
[00:00:00] Olumide Ogunsanwo: Welcome to Afrobility, a conversation about African business and technology. Today, we're going to discuss the rise of neobanks in Africa. We'll start with reviewing neobanks and other emerging markets, discuss the landscape of neobanks across different African regions, and then we'll end with our general thoughts and outlook.This episode was recorded on March 7th, 2021. Lloyd Banks. How goes it?
[00:00:25] Bankole Makanju: Oh, Lloyd Banks! I can be Lloyd Banks.
[00:00:29] Olumide Ogunsanwo: Lloyd Banks is cool. Don't lose your street cred.
[00:00:33] Bankole Makanju: That is a very famous rapper. No, that's, no, that's the rapper of my youth. G-Unit!
[00:00:37] Olumide Ogunsanwo: Quick reminder. This is parts over Trilogy, WealthTech, trilogy, and basically the way we're defining WealthTech very loosely is. Fintechs targeting consumers. We've divided it into three parts.