Remuneration Levels and Practices in the Financial Technology/Micro Credit Industry

Remuneration Ls & Ps in the Fintech/Micro Credit Ind

Technology is bringing rapid changes to how businesses create value across sectors. In the Financial Services Industry (FSI), the emergence of Financial Technology (FinTech) has brought significant disruptions, resulting in mergers and acquisitions, overall industry growth as well as emergence of new players.

Wale Ajayi

Partner & Head, Tax, Regulatory & People Services

KPMG in Nigeria

Remuneration Levels and Practices in the Financial Technology/Micro Credit Industry

Business survival and continued relevance, therefore, depend on the ability to proactively and effectively adjust business models to align with the rapidly changing landscape. As part of their transformation agenda, FSI companies are leveraging social media (which now serves as a major marketing channel), and investing massively in digital transformation, Artificial Intelligence (AI), Alternative Data, Big Data, Cloud-enabled Business Models, Robotics Process Automation (RPA). The objective is to achieve cost efficiencies, improve digitisation and faster transactions, etc. The growth prospects that come with these have intensified the war for talent, as the key players seek competitive advantage as well as carving a niche in the market.

Attracting, retaining and motivating the talent required to drive strategy execution, therefore, requires keeping abreast of pay market trends and developments. KPMG partners with key FinTech players by providing valuable market insights as well as advice on aligning remuneration with their corporate transformation objectives. We also provide similar partnership in other sectors such as: the Consumer Markets, Banking, Insurance, Legal Services, Oil and Gas, Pension. Through this, we empower companies to take informed decisions on leveraging an effective and aligned rewards strategy.

Click to download and read more on this publication which provides key highlights from the 2018 Remuneration Survey amongst Microfinance Banks, IT/Telecoms and Electronic Payment companies.

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