You have been so helpful with your videos, I and my team have made your videos a most in our startup. We successful build our platform and will be launching within the next 2 weeks, a big thank you from Team Ryan
Congratulations brother 🎉 My daughter has done Master in Fintech from Dublin business school, brother plz help my daughter getting job in Fintech Plz help God bless both of you
Hi start my Fintech startup ideas from 17 years old and am 18 but I have not found investors but I have been doing it myself and my friend we have built a team and got some partnership we may get this June thanks for encouraging me
Mr Jereemy i really appreciate your detailed explanation on fintech start up. Also i would like to enroll in fintech training classes if there is any. Thank you
very insightful video especially for we starters in the space.please what exactly do u think is the role of a Business Development manager in a new fintech company and what are the areas need to build and develop to be successful as a BDM
I think business development requires a range of skills, primarily sales, presentations skills, effective communication and in some cases project management
Thanks a lot Mr Jeremy , I want to start a fintech , but I am scared or feel I don't have the money for the requirements by the CBN , Is it possible to build an MVP with out registering and doing so when the funds are available...
Yes you can certainly build an MVP without registering as long as you don't make it open to the public for anything other than testing. Most startups build their MVP's far ahead of establishing the company so you well within your rights to do so
Thank you so much big bro….. Guys pls let’s make a dream come through I like to share a fintech project with you. I want us to be co-founders of this new venture designed as an app. 🙏🙏🙏🙏🙏 pls help a brother make his dream come true for us
Your videos has been quite insightful , please can you also talk about the issues with the Fintech world now. There has been many loss of assets to the Fintech world now, Any take on that??
Am lost in thoughts on how payment processing is done across different currencies. Like, In say, a mobile wallet, how do I incorporate conversion across currencies? Say I deposited GHS and want to convert/exchange it for KSH or USD. Do I need to partner with banks or develop software that takes care of fx conversion?
Not sure, I understand what you're trying to achieve. You would definitely need a bank for the funds to terminate into, however if your platform is an exchange in itself then you can execute the conversion independently
@@coinasis2907no need of bank to use, that but you need to make sure that the bank that you are partner with that storing your customers data allowing that currency, but the question is, where are you storing customer data, is it in your database or in a third party like a bank and you just access an API, and why you need to convert the original currency to another currency, and if it’s. you need and must keep track in real-time prices of the 2 convertible currencies and do the trade
How much do I need to start up a successful Fintech company (like opay,Kuda PalmPay) in Nigeria 🇳🇬 I will really appreciate if you can give me the total cost and break of it Thank you
Starting a successful fintech company in Nigeria, like Opay, Kuda, or PalmPay, can require a significant amount of capital. The exact amount you need will depend on various factors such as the scope of your services, your target market, and your business model. However, I can provide you with a rough estimate of the costs involved in launching a fintech startup in Nigeria. Please keep in mind that these figures are approximate and can vary widely. Legal and Regulatory Costs: Nigeria has stringent regulatory requirements for fintech companies. You'll need to budget for legal fees, compliance experts, and obtaining necessary licenses and permits. This can cost anywhere from $10,000 to $50,000 or more, depending on the complexity of your operations. Technology and Infrastructure: Developing the technology platform for your fintech company is a significant expense. This includes software development, hardware, and cybersecurity measures. Budget at least $100,000 to $500,000 or more, depending on your platform's complexity. Hiring and Salaries: Attracting top talent is crucial for a fintech startup. Consider the salaries for developers, designers, compliance officers, customer support, and management. You may need to budget several hundred thousand dollars annually for salaries. Marketing and Customer Acquisition: Building brand awareness and acquiring customers will require marketing and advertising expenses. Depending on your marketing strategy, this could range from $10,000 to $100,000 or more per month. Office Space and Utilities: If you plan to have a physical office, budget for rent, utilities, and office supplies. Costs can vary widely based on location and size but could range from $10,000 to $50,000 per year. Customer Support and Operations: Consider the costs of customer support staff, call centers, and day-to-day operational expenses. This can range from $50,000 to $200,000 or more annually. Compliance and Security: Maintaining regulatory compliance and robust security measures is critical in the fintech industry. Allocate a significant budget for ongoing compliance and security measures, which could cost hundreds of thousands of dollars annually. Marketing and Partnerships: You may need to invest in partnerships with other financial institutions or service providers. These partnerships can help with customer acquisition and expanding your service offerings. Budget accordingly, depending on your strategy. Contingency: It's essential to have a financial buffer for unexpected expenses or periods of low revenue. A contingency fund of at least 10-20% of your total budget is advisable. Working Capital: Ensure you have enough working capital to cover day-to-day expenses like payroll, rent, and operational costs for the first few months or even years until your startup becomes profitable. The amount required will depend on your burn rate and projected revenue. In total, starting a fintech company in Nigeria can e
Waoh,Very detailed.In addition Regulation and tech are the 2 major problems, for a starter you will need to get a license from central bank of Nigeria(PSSP), that gives you the opportunity to card withdrawal transactions with NIBSS,that same license will give you access to some other NIBSS portal for transfer transactions. Most fintech connects to other systems to max profit and ensure stability and at the same time have some techniques in place to avoid chargeback while still keeping to the pcidss rules(It's a lot)
@@JeremyQuainoo thank you so much for this information! I will really love to have your email address or maybe your phone number, I really have alot to discuss with you
To start a PayTech company in Ghana, you'll need to obtain a Payment Service Provider (PSP) license from the Bank of Ghana, which regulates the industry under the Payment Systems and Services Act, 2019 (Act 987). Depending on your services, you may require an Enhanced or Standard PSP License, or an Electronic Money Issuer (EMI) License. These licenses are essential for offering payment services, mobile money, or electronic payments in Ghana.
![Biggest Startup Failures of ALL TIME [2023 Edition]](http://i.ytimg.com/vi/E7QxYHipqag/mqdefault.jpg)
You have been so helpful with your videos, I and my team have made your videos a most in our startup. We successful build our platform and will be launching within the next 2 weeks, a big thank you from Team Ryan
Thats very encouraging to hear, thanks for kind words and i wish you all the best on you platform launch.
Congratulations brother
🎉
My daughter has done Master in Fintech from Dublin business school, brother plz help my daughter getting job in Fintech
Plz help
God bless both of you
Please I need to talk to you coz I’m on my way to do my start up
Hi start my Fintech startup ideas from 17 years old and am 18 but I have not found investors but I have been doing it myself and my friend we have built a team and got some partnership we may get this June thanks for encouraging me
Can u share the idea@@IsmartDigitalConnect
This is a great resource. Very detailed too.
Awesome delivery. It's a good kit to get on my fintech journey.
Thanks
Subscribed
Thanks for the sub, i'm glad you found the content valuable.
I'm a phd researcher in fintech area, i really like your videos. Keep it up!
Awesome! Thank you for the words of encouragement
My daughter has done Master in Fintech from Dublin business school, brother plz help my daughter getting job in Fintech
Plz help
God bless both of you
@MMPbyK243 Hello! I'm a Web Designer interested in Fintech startups. How do I connect with you?
Hey Jeremy, as always. Love from Uganda. Thanks for this update. It was very much needed.
Glad you found it useful Brian, cheers
Well done 👏
Many many thanks
Mr Jereemy i really appreciate your detailed explanation on fintech start up. Also i would like to enroll in fintech training classes if there is any.
Thank you
Thank you, there a lots of online fintech training classes, i would suggest going on to coursera, edx or udemy to search. cheers
very insightful video especially for we starters in the space.please what exactly do u think is the role of a Business Development manager in a new fintech company and what are the areas need to build and develop to be successful as a BDM
I think business development requires a range of skills, primarily sales, presentations skills, effective communication and in some cases project management
Very educative big bro. It's your junior bro prince Quainoo.
Thanks bro
What are the requirements and licenses that would be needed for a fintech startup building a payment processing platform?
it depends on your territory, each country may have differing requirements and licenses
God bless you abundantly
Amen
Thanks a lot Mr Jeremy ,
I want to start a fintech , but I am scared or feel I don't have the money for the requirements by the CBN ,
Is it possible to build an MVP with out registering and doing so when the funds are available...
Yes you can certainly build an MVP without registering as long as you don't make it open to the public for anything other than testing. Most startups build their MVP's far ahead of establishing the company so you well within your rights to do so
Thank you so much big bro…..
Guys pls let’s make a dream come through
I like to share a fintech project with you. I want us to be co-founders of this new venture designed as an app.
🙏🙏🙏🙏🙏 pls help a brother make his dream come true for us
Awesome work
Hi Jeremy, thanks for the insight. Do you by any means know anyone who provides services in business proposal for Fintech?
I don't know any specifically, but general consultants can assist with a business proposal, its not that different for fintech
@@JeremyQuainoo Alright mate thanks 🙏
Your videos has been quite insightful , please can you also talk about the issues with the Fintech world now. There has been many loss of assets to the Fintech world now, Any take on that??
Thats actually a really good suggestion, i'll do my best to add that to my schedule of fintech videos
Hi Jeremy,
Do you think FinTech startups can benefit from outbound prospecting?
I'll need more context on what you mean by outbound prospecting
cold emails, linkedin outreach - automated using software reaching out to ideal prospects each month@@JeremyQuainoo
Nna, how do I secure a domain name for my Fintech business
You'd have to purchase one
I have few issues,
Like as a startup what license or registration do I need at first
it depends on numerous factors such as your location the type of business you're going into. fundamentally a license to operate is the first
thanks
Welcome
Does JUMO offer loans to startups? Asking from South Africa
Unfortunately not, we only offer micro loans to individuals outside South Africa
Am lost in thoughts on how payment processing is done across different currencies.
Like, In say, a mobile wallet, how do I incorporate conversion across currencies?
Say I deposited GHS and want to convert/exchange it for KSH or USD.
Do I need to partner with banks or develop software that takes care of fx conversion?
Not sure, I understand what you're trying to achieve. You would definitely need a bank for the funds to terminate into, however if your platform is an exchange in itself then you can execute the conversion independently
@@JeremyQuainoo I want a currency conversion/exchange feature. Where users can convert/exchange for example GHS to NGN or USD to EUR etc.
@@coinasis2907no need of bank to use, that but you need to make sure that the bank that you are partner with that storing your customers data allowing that currency, but the question is, where are you storing customer data, is it in your database or in a third party like a bank and you just access an API, and why you need to convert the original currency to another currency, and if it’s. you need and must keep track in real-time prices of the 2 convertible currencies and do the trade
How much do I need to start up a successful Fintech company (like opay,Kuda PalmPay) in Nigeria 🇳🇬 I will really appreciate if you can give me the total cost and break of it
Thank you
Starting a successful fintech company in Nigeria, like Opay, Kuda, or PalmPay, can require a significant amount of capital. The exact amount you need will depend on various factors such as the scope of your services, your target market, and your business model. However, I can provide you with a rough estimate of the costs involved in launching a fintech startup in Nigeria. Please keep in mind that these figures are approximate and can vary widely.
Legal and Regulatory Costs: Nigeria has stringent regulatory requirements for fintech companies. You'll need to budget for legal fees, compliance experts, and obtaining necessary licenses and permits. This can cost anywhere from $10,000 to $50,000 or more, depending on the complexity of your operations.
Technology and Infrastructure: Developing the technology platform for your fintech company is a significant expense. This includes software development, hardware, and cybersecurity measures. Budget at least $100,000 to $500,000 or more, depending on your platform's complexity.
Hiring and Salaries: Attracting top talent is crucial for a fintech startup. Consider the salaries for developers, designers, compliance officers, customer support, and management. You may need to budget several hundred thousand dollars annually for salaries.
Marketing and Customer Acquisition: Building brand awareness and acquiring customers will require marketing and advertising expenses. Depending on your marketing strategy, this could range from $10,000 to $100,000 or more per month.
Office Space and Utilities: If you plan to have a physical office, budget for rent, utilities, and office supplies. Costs can vary widely based on location and size but could range from $10,000 to $50,000 per year.
Customer Support and Operations: Consider the costs of customer support staff, call centers, and day-to-day operational expenses. This can range from $50,000 to $200,000 or more annually.
Compliance and Security: Maintaining regulatory compliance and robust security measures is critical in the fintech industry. Allocate a significant budget for ongoing compliance and security measures, which could cost hundreds of thousands of dollars annually.
Marketing and Partnerships: You may need to invest in partnerships with other financial institutions or service providers. These partnerships can help with customer acquisition and expanding your service offerings. Budget accordingly, depending on your strategy.
Contingency: It's essential to have a financial buffer for unexpected expenses or periods of low revenue. A contingency fund of at least 10-20% of your total budget is advisable.
Working Capital: Ensure you have enough working capital to cover day-to-day expenses like payroll, rent, and operational costs for the first few months or even years until your startup becomes profitable. The amount required will depend on your burn rate and projected revenue.
In total, starting a fintech company in Nigeria can e
Waoh,Very detailed.In addition
Regulation and tech are the 2 major problems, for a starter you will need to get a license from central bank of Nigeria(PSSP), that gives you the opportunity to card withdrawal transactions with NIBSS,that same license will give you access to some other NIBSS portal for transfer transactions.
Most fintech connects to other systems to max profit and ensure stability and at the same time have some techniques in place to avoid chargeback while still keeping to the pcidss rules(It's a lot)
@@JeremyQuainoo thank you so much for this information! I will really love to have your email address or maybe your phone number, I really have alot to discuss with you
How to start my own payment gateway like paystack or my own momo like gmoney please help
To start a PayTech company in Ghana, you'll need to obtain a Payment Service Provider (PSP) license from the Bank of Ghana, which regulates the industry under the Payment Systems and Services Act, 2019 (Act 987). Depending on your services, you may require an Enhanced or Standard PSP License, or an Electronic Money Issuer (EMI) License. These licenses are essential for offering payment services, mobile money, or electronic payments in Ghana.
@@JeremyQuainoo thank you sir
Does a founder of a fintech startup required to acquire any degree?
Not necessarily, more about the knowledge, maturity and expertise which is where educational certifications come to play
My daughter has done Master in Fintech from Dublin business school, brother plz help my daughter getting job in Fintech
Plz help
God bless both of you
God bless you too
hey man since my interest on developing a cash app, I listen and watch videos, can I have your email please
remquainn@gmail.com
I have few issues,
Like as a startup what license or registration do I need at first
Typically a business operating permit is the fundemental requirement depending on the territory