Bank78
“Can a CBN-licensed microfinance bank become the default digital banking layer for Nigerian consumers and SMBs?”
HQNigeria
IndustryFintech / Neobank
The story
Bank78 is a Nigerian digital banking platform (Bank78 MFB) offering digital accounts, payments/transfers, and savings for individuals and businesses. Licensed by the Central Bank of Nigeria (CBN) as a Microfinance Bank with NDIC deposit insurance. The company has since layered in a Creators Fund credit product for its users, indicating a move toward embedded consumer/SMB lending on top of its core deposit product.
Regulated entities
1
regulatory licence held by Bank78
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
3 layers disclosed in Bank78’s embedded-finance stack
Payments / PSP
Bank78 (self-operated)
Banking / BaaS
in the full report
Lending
in the full report
Accounting gap: none
3 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.