Why are Fintechs Disruptive?

Fofou Fanny 13 Sept. 2023

We have been hearing talks about Fintechs for some years now, especially on how it is making a difference in the financial industry. However we can’t stop asking ourselves what exactly is Fintech? Why  are Fintech companies disruptive in the financial industry?

Financial Technology aka Fintech is the integration of technology programs and solutions into processes in order to enable, speed and enhance financial services delivery. Given this definition we can already oversee why Fintech companies are disruptive. Making a comparison between traditional banks services and fintechs will easily showcase why.

As per the table, this is why Fintechs are disruptive: they couple speed to convenience to service a larger customer base compared to traditional banks.

Fintech Landscape Worlwide

Fofou Fanny 26 Sept. 2023

Fintech has had a tremendous impact on the financial industry. That is undeniable. However, the impact differs depending in which regions of the world Fintechs perform. This is due to the fact that all regions in the world do not experience the same financial inclusion. 

According to the Global Findex Database of the World Bank Group (The Global Findex Database 2021 (, there is a great disparity between regions.  In Europe & Central Asia Regions, up to 90% of the population above 15 years hold a bank account as of 2021. This high financial inclusion is also true for East Asia and Pacific Region with 83% of the population holding an account and Latin America & Carribeans with a rate of 74% as per 2021.

Whereas in the South Asia Region, this inclusion dropped to 68% and in the Middle East and North Africa it barely passes the 50%  bar with only 53% of the population above 15 holding a bank account. Regarding Sub-Saharan Africa, it is not much different from the Middle East and North Africa Region with a financial inclusion rate of 55%.

Given the above information about the level of financial inclusion, it is clear that regions do not face the same challenges to increase it. Therefore Fintechs’ focus on banking aspects will differ from one region to another.

When it comes to regions with financial inclusion above 70%, Fintech focus is not on how to onboard more people to use financial services but rather on how to keep them engaged with them. For example in the case of Europe, according a recent survey of McKinsey in France, Germany, Italy, Netherland, Portugal, Spain and UK (Europe’s fintech opportunity | McKinsey), showed that  bank account owners engage with Fintechs seeking better services when it comes to services pricing, ease of access, speed, quality and improvements. For these European account owners, services pricing matters as much as ease of access with 32% of customers engaging with Fintechs because of a positive difference in these aspects. Whereas 30% of customers engage with Fintechs because of speed of service while services’ quality matters for only 22% of the customers and improvements for 17%.

For the Middle East and Africa, Fintech focus is still on how to onboard as many people as possible to use financial services. That is because transactions in these regions are still very ‘liquid’ with up to 90% of transactions still happening in cash. This is especially true for Africa (Fintech in Africa: The end of the beginning | McKinsey). 

Although Fintechs applications differ from one part of the world to another, the sector still have beautiful days ahead with a CAGR of 74.16% by 2025 (Global Fintech Market - Size, Outlook, Trends and Forecasts (2019 – 2025) (

Trending Fintechs is Central Africa (ECCAS)

Fofou Fanny 5 Oct. 2023

Previously the Fintech landscape worldwide was assed and it was discovered that while developed countries have already established financial inclusion, African and Middle Eastern countries were still working towards increasing financial inclusion. This is why  when it comes to Fintechs, Emerging and Frontier Markets are the most fertile environment to thrive because there is a huge need. Looking closely to Africa, we aimed at finding out what are the most trending Fintechs per Economic Region. Africa is so diverse that making a whole comparison would not  make sense unless broken down.

According to Tracxn ( , Central Africa has more than 160 fintech companies and startups. Of these, our focus shall be on the top 10 of Trending Fintechs in the ECCAS Region (Economic Community of Central African States). ECCAS groups 11 countries which are Angola, Burundi, Cameroon, Central African Republic, Chad, Congo, Democratic Republic of the Congo, Equatorial Guinea, Gabon, Rwanda and Sao Tome and Principe

There are clearly 2 countries in ECCAS driving the Fintech industry: Cameroon and Rwanda. Most of these Fintechs tend to focus on payments solutions or savings issues.