Disruptive Technology and the Fintech Industry in Nigeria: Imperatives for Legal and Policy Responses

Ojo, Oluwaseun; Nwaokike, Ugo

doi:10.2139/ssrn.3306164

Cited by 9 publications

(8 citation statements)

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“…It already altering the provision of financial services in emerging markets in selected Africa region (Abubakar, Benna, & Benna, 2019). High regulatory uncertainties; hostility from Financial Services (FS) incumbents; poor data protection; disruptive technology; terrorism financing; money laundering; cyber crimes and identity theft or fraud as some of the challenges in fintech sector within the Nigeria ICT ecosysytem (Ojo & Nwaokike, 2018). However, blockchain has the potential to solve some of these challenges (Skinner, 2016).…”

Section: Introductionmentioning

confidence: 99%

An Overview of Blockchain Technology Adoption

Jimoh¹,

Abdullahi²,

Ibrahim³

2019

JCSIT

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Governments of emerging economies need to stimulate awareness and adoption of emerging technologies to facilitate effective and efficient citizen service delivery. The need for an integrated Information Communication Technology ecosystem in developing countries, nurture the call for adoption of emerging technologies. Similar to every emerging technology, the adoption of blockchain is dependent on the extent that government and relevant stakeholders take the lead in supporting and unveiling market-creating innovation on blockchain platforms. This paper provides an insight into the need for blockchain technology in developing economy; with Nigeria as a case study. Possible challenges and limitation of blockchain implementation are highlighted with a recommendation on the role of ICT regulatory agency towards achieving a sustainable blockchain technology adoption.

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Section: Introductionmentioning

confidence: 99%

An Overview of Blockchain Technology Adoption

Jimoh¹,

Abdullahi²,

Ibrahim³

2019

JCSIT

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“…Existing literatures (Adeyoju, 2020;Anichebe, 2019;Effiom and Edet, 2020;Wayne et al, 2020;Ozili, 2020;Ojo and Nwaokike, 2018;Suprun et al, 2020;Chun et al, 2017) have confirmed that in spite of financial technologies been emerging innovation in the financial system in Nigeria and the world in general, 80% of the Nigeria financial institutions are drifting from traditional banking to FINTECH. However, the most financial institutions in Nigeria still rely on traditional banking as alternative pending the climax of human capital development in Nigeria.…”

Section: Discussion Of Resultsmentioning

confidence: 97%

Financial technologies’ evolution and traditional banking: A study of retail payments in Nigeria

Iriobe

Williams

Ayodele

et al. 2021

GJBEM

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The world of digitalisation is impacting on all aspects of socioeconomic life. This notable change also applies to the financial sector of the global economy. The activities and services of financial technology (FINTECH) overlap with that of traditional banking services. The study seeks to investigate the impact of FINTECH evolution on traditional banking institutions to picture the future of payment systems in Nigeria. Two methods of data analysis were used in the study. An econometric method of data analysis was used to conceptualise the findings of the study. Results from the test of hypotheses reveal that FINTECH affects traditional banking. In conclusion, the present FINTECHs in the Nigerian financial system seem to be slow but are positioned to provide better financial services, especially in payment systems than the traditional banking. The study recommends that the regulators of the Nigeria financial system should incorporate policies into the retail payment system that would ensure full application. Keywords: Financial technologies, generalised linear method, system theory, traditional banking, retail payments;

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“…Neither does the teacher have to be physically present to teach. The knowledge exchange sessions can be done virtually (Ojo & Nwaokike, 2018).…”

Section: Educationmentioning

confidence: 99%

Disruptive Technology and Regulatory Response: The Nigerian Perspective

2021

CEIS

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newsmedia/docu-ments/umc-call-to-action-vital-congregations-research-project . PDF Borislav Savkovic. (2017). Predictive Analytics.https://www.mathworks.com/discovery/predictive-analytics.html #how-it-works. Mathworks (2020). "What Is Machine Learning? 3 things you need to know". https://www.mathworks.com/discovery/machine-learning.html Mathworks and Researchswan (2020). Predictive Analytics with MATLAB. https://researchswan.com/whitepaper/predictive-analytics-with-matlab Rohith G. (2017). Introduction to Machine Learning Algorithms: Linear Regression. https://towardsdatascience.com /introduction-to-machine-learning-algorithms-linear-regression-c4e325882a 2017. Attia, A.

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Disruptive Technology and the Fintech Industry in Nigeria: Imperatives for Legal and Policy Responses

Cited by 9 publications

References 0 publications

An Overview of Blockchain Technology Adoption

An Overview of Blockchain Technology Adoption

Financial technologies’ evolution and traditional banking: A study of retail payments in Nigeria

Disruptive Technology and Regulatory Response: The Nigerian Perspective

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