How Eyowo’s bid to become a fintech giant hit the rocks
- Eyowo, one of Nigeria’s earliest digital banks, faced challenges after shifting its focus from B2B to consumer-facing products.
- Former employees blamed the company's lack of experience in core banking and poor strategic thinking.
- Eyowo lost its banking license, resulting in delays in salary payments and service outages.
Eyowo faced significant challenges due to its strategic shift and lack of experience in core banking. The loss of its banking license resulted in negative consequences such as delays in salary payments and service outages. However, the company is making efforts to rectify the situation and regain customer trust.
