THE ROLE OF FINTECH IN BRIDGING THE LACK OF ACCESS TO FINANCE IN NIGERIA

THE ROLE OF FINTECH IN BRIDGING THE LACK OF ACCESS TO FINANCE IN NIGERIA

The term “fintech” is an abbreviation for “financial technology,” which describes the use of technology to the financial sector. Everything from P2P lending sites to internet payment systems and mobile banking apps fall under this category. The potential of fintech to reach out to those who would not otherwise have access to banking services has contributed to the industry’s meteoric rise in recent years.

Let’s discuss how financial technology might help Nigerians overcome their current financial challenges. Only 40 percent of individuals in Nigeria have access to formal financial services, according to a World Bank survey. This means that many people are cut off from the credit, savings, and other financial services necessary for a flourishing economy.

Fintech, though, may soon be able to alter this. Using cutting-edge technology, fintech firms are able to undercut banks on both price and convenience to serve previously unbanked customers. Bank accounts may be opened, funds transferred, and loans obtained all from the convenience of one’s mobile device, eliminating the need to visit a branch.

Several recent studies have demonstrated the good effects fintech is having on financial inclusion in Nigeria. By making credit and other financial services available to previously disadvantaged communities, fintech firms in Nigeria, for example, have contributed to expanding financial inclusion.

If you’re looking for concrete examples, a number of Nigerian fintech firms are actively improving the financial services landscape. Online payment platforms like Paystack make it possible for companies to collect payments from clients using a variety of methods, including credit cards, debit cards, and wire transfers. Paga is another option; it’s a mobile payment platform that lets you pay bills, transfer and receive money, and buy airtime.

Finally, fintech has the potential to play a crucial role in addressing Nigeria’s funding gap. Using cutting-edge technology, fintech firms are able to undercut banks on both price and convenience to serve previously unbanked customers. Fintech in Nigeria has a promising future, despite certain remaining obstacles. These include regulatory concerns and infrastructure constraints.

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RESEARCH PROJECT CONTENTS
CHAPTER ONE - INTRODUCTION
1.1 Background of the study
1.2 Statement of problem
1.3 Objective of the study
1.4 Research Hypotheses
1.5 Significance of the study
1.6 Scope and limitation of the study
1.7 Definition of terms
1.8 Organization of the study
CHAPETR TWO – LITERATURE REVIEW
2.1. Introduction
2.2. Conceptual Framework
2.3. Theoretical Framework
2.4 Empirical Review
CHAPETR THREE - RESEARCH METHODOLOGY
3.1 Research Design
3.2 Study Area
3.3 Population of the Study
3.4 Sample Size and Sampling Technique
3.5 Instrument for Data Collection
3.6 Validity of the Instrument
3.7 Reliability of the Instrument
3.8 Method of Data Collection
3.9 Method of Data Analysis
3.9 Method of Data Analysis
3.10 Ethical Considerations
CHAPTER FOUR - DATA PRESENTATION AND ANALYSIS
4.1. Introduction
4.2 Demographic Profiles of Respondents
4.2 Research Questions
4.3. Testing of Research Hypothesis
4.4 Discussion of Findings
CHAPTER FIVE – SUMMARY, CONCLUSION & RECOMMENDATIONS
5.1 Introduction
5.2 Summary
5.3 Conclusion
5.4 Recommendation
REFERENCES
APPENDIX


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