Core banking migrations: Fintechs to the rescue
- Core banking migrations have halted services for traditional banks in Nigeria.
- Users have turned to fintech platforms for financial transactions during service interruptions.
- Fintechs like OPay offer superior services compared to traditional banks.
The ongoing challenges faced by traditional banks in Nigeria highlight the urgent need for them to innovate and adapt to the changing financial landscape. While fintechs are currently leading in customer experience, traditional banks must leverage their established trust and expertise to integrate new technologies and improve service delivery. This situation presents an opportunity for collaboration between traditional banks and fintechs to create a more robust financial ecosystem.
