Fintechs are setting the pace for retail and digital experiences while traditional banks trail, constrained by rigid operating structures and slower innovation cycles. According to KPMG West Africa Banking Industry Customer Experience Surveys from 2023 to 2025, the shift emerged prominently in 2023 during the naira redesign-induced cash crunch, which highlighted weaknesses in traditional infrastructure and drove users to digital options. That year, fintechs stood out on Integrity and Time & Effort pillars, led by Opay (81.2), PiggyVes
Fintechs are setting the pace for retail and digital experiences while traditional banks trail, constrained by rigid operating structures and slower innovation cycles. According to KPMG West Africa Banking Industry Customer Experience Surveys from 2023 to 2025, the shift emerged prominently in 2023 during the naira redesign-induced cash crunch, which highlighted weaknesses in traditional infrastructure and drove users to digital options. That year, fintechs stood out on Integrity and Time & Effort pillars, led by Opay (81.2), PiggyVes