Mogaji, Emmanuel ORCID: https://orcid.org/0000-0003-0544-4842 (2022) Exploiting the bank of the free: lessons from Kuda’s loss. Tech Cabal, Lagos, Nigeria.

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Abstract

On Friday, September 16, news broke that Kuda Bank, one of Nigeria’s neo banks changing how banking services are delivered, had made a loss of 6 billion Naira in 2021. It appears everyone was shocked by the news. No one expects a bank to be making such a massive loss in a country where commercial banks are raking in money yearly and declaring huge profits. Based on my research in financial services marketing in Nigeria and marketing bank services to vulnerable people, I believe three crucial points need to be addressed. I see the bank taking responsibility for its
actions, improving its business operation and growth strategy, and
continuing to enhance its customers’ experience. There are important lessons to learn from this, especially for start-up companies trying to disrupt a sector. For the banking services industry, are we expecting a new disruptor to the disruption?

Item Type:	Other
Uncontrolled Keywords:	Bank; Kuda; Nigeria; financial services
Subjects:	H Social Sciences > HG Finance
Faculty / School / Research Centre / Research Group:	Faculty of Business Faculty of Business > Department of Marketing, Events & Tourism Faculty of Business > Marketing Research Group (MRG)
Related URLs:	https://techcabal.com/2022/09/20/exploit...
Last Modified:	21 Sep 2022 09:54
URI:	http://gala.gre.ac.uk/id/eprint/37523

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