It’s no news that the Fintech space in Nigeria has become overly saturated. Last year, a number of Fintechs took the space by storm with the intention of taking a significant market share from traditional banks with their lower pricing 📈. I’m sure you would remember the likes of Carbon, Branch, Palmcredit & Opay.

Inspired by a post shared by Nifemi Oluboyode, I decided to take a stab at the checking out the processes of getting a loan from some of these Fintech Apps. For me, I found it interesting because the days of pricing war in this space are over and the difference would come down to how fast and seamless the experience is.

I’d be measuring:

  • the number of clicks/interactions required to complete a Loan Application from the moment you successfully login to the App (after previous registration). A click/interaction would count as the tap of a button or inputting of a value.
  • How long it took to complete this transaction (as this also speaks to the quality of Back-end processes that have been put in place)
  • Seconds Per Click (Average of 1 & 2)

Meet the Contestants:


I personally carried out the test across all these Apps from my Android device.

Branch’s clicks stole the show with a surprising 2 clicks. Palmcredit would have won this for me but they required me to input a verification code before I could access the app even after registration.

On the speed ⚡️ side of things, Palmcredit chirruped; Again, this difference may or may not be as a result of the quality of the internet whilst simulating but these simulations were carried out at least 2 times on these Apps.

Another interesting stat was from ALAT, who despite their 11 clicks did 3.27 SPC (Seconds per click – a SI unit I created whilst putting this together). Carbon however trumped with 3.1 SPC. This for me, speaks to the quality of the back-end and the processes running.

And the winner is:

I don’t get to declare a winner or loser but I have pointed out areas that need work. to be obvious and service providers in this space need to remember that customers have loads of options

Customer Experience for me would be the ultimate winner.

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