While many fintechs and traditional banks in Nigeria are focused on mass-market banking, Sparkle, a digital bank, has chosen a different path. Instead of targeting the vast, yet competitive, mass market, Sparkle is focusing on affluent individuals and businesses.
By prioritizing a niche market, Sparkle aims to offer personalized financial services and a superior customer experience. The bank leverages technology to provide a range of financial solutions, including savings, investments, loans, and business services.
One of Sparkle’s key differentiators is its use of artificial intelligence to enhance customer interactions. The bank’s AI-powered chatbot is designed to provide personalized financial advice and assistance, making it a valuable tool for customers.
While Sparkle’s strategy may seem counterintuitive in a market with a large unbanked population, the bank believes that focusing on a specific segment allows it to deliver a higher level of service and build stronger customer relationships. By offering tailored solutions and a seamless digital experience, Sparkle aims to carve out a unique position in Nigeria’s competitive banking landscape.
