N※N

GDP Growth 2024: Six Largest Sectors of the Nigerian Economy

The article from Legit.ng discusses the nine fastest-growing sectors within financial institutions for 2024. It highlights how the financial landscape is evolving due to technological advancements, regulatory changes, and shifts in consumer behavior. Key sectors include Fintech, which continues to disrupt traditional banking with innovations like blockchain, AI, and mobile banking; Digital Payments, spurred by the decline in cash usage and the rise of contactless payments; Sustainable Finance, focusing on ESG (Environmental, Social, and Governance) criteria; Cybersecurity, as financial institutions bolster defenses against increasing cyber threats; Wealth Management, adapting to serve a growing middle class and high-net-worth individuals with personalized services; RegTech, which helps firms comply with regulations more efficiently; Insurtech, revolutionizing insurance through technology; Cryptocurrency and Digital Assets, gaining legitimacy and integration into traditional finance; and Banking-as-a-Service (BaaS), allowing non-banks to offer banking services. The article emphasizes the importance of these sectors in driving innovation, enhancing customer experience, and ensuring financial stability in the face of global economic changes.

Read the Full legit Article at:
[ https://www.legit.ng/business-economy/economy/1628226-financial-institutions-9-fasting-growing-sectors-2024/ ]