Carbon vs Kuda: The experiment to improve banking for digital natives
Carbon vs Kuda. Source: Stears Business

“I ran back because of the crowd. I’ll rather stay without the cards than waste my time queuing”, my friend lamented on Twitter last Friday. Apparently, she just returned from two banks without making her request for an ATM card.

Issues like hers are more frustrating when you consider that many banking apps are simply payment apps. You can see your account balance, send money, buy recharge cards, but you can’t find a solution to basic complaints. All roads usually lead to the physical bank branch.

But over the last few years, a new breed of banks—challengers, digital, or neobanks—have launched across the world and they’re trying to change the delivery of financial services. 

Carbon, Kuda, Rubies, VBank, and Sparkle, are five major examples of this new breed of companies with a banking licence in Nigeria. At the surface, these upstarts are taking advantage of what they believe is a

Don’t limit your understanding. Join the Premium community to continue reading.

Abubakar Idris

Abubakar Idris

Read Latest

Crypto investments: The good and the ugly

PREMIUM - 27 JAN 2021

Cryptocurrency regulation and participation from the Central Bank of Nigeria

PREMIUM - 26 JAN 2021

What are the use cases of cryptocurrency?

PREMIUM - 25 JAN 2021

Can Nigeria print money to solve its problems?

PREMIUM - 22 JAN 2021