As technology evolves, customer demands continue to affect how businesses operate especially in the banking sector. In recent times, fintech startups have raised the bar, offering customers easier, faster, and cheaper financial services particularly in areas such as zero transfer fees, more attractive interest rates on savings, full online banking experience, speed and simplicity.
These competitive advantages are endearing them to an increasing number of customers and strengthening their position in the industry.
In this article, we examine some fintechs currently offering free banking services.
Aladdin
Aladdin Finance App is powered by PurpleMoney Microfinance Bank. The app offers its customers zero charges on transfers and transactions with other banks. Traditional banks charge N25 per transfer, but Aladdin bears the transfer cost and offers the service for free.