Xyz Fintech Nig LTD Business Plan

TABLE OF CONTENTS :
XYZ FINTECH BUSINESS PLAN|
1.0 XYZ FINTECH LIMITED BUSINESS PLAN
Table of contents 1
Introduction 2-3
Executive summary 3-5
Company Profile 5-8
Products and Services 8-12
Business Environment Analysis 12-19
Operation plan 19-25
Business structure 25-37
Conclusion and recommendations 37-38
Financial analysis 38-
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2.0 INTRODUCTION
This is a business plan for the establishment of a financial technology (FINTECH) company, XYZ FinTech Limited that will
primarily provide loan/credit facilities for personal and business development purposes. This document provide a
comprehensive analysis of the technical, strategic and financial outlook of the company's business.
The report contains the business descriptions, analysis of the business environment, looking at the internal and external
factors affecting the business, the competitive analysis of the firm considering the market analysis together with the
operating plans, management structure and financial analysis.
Why a business plan is important for XYZ FinTech Limited?
There are many reasons why it is important for entrepreneurs to have a business plan. A few of these reasons include:
 It puts a plan in place when starting a new business

 To conduct the necessary research
 To evaluate competitors and find your audience
 Sets objectives for employees and management
 Sets goals for you as an entrepreneur
 To determine when new employees are needed
 Assists you in making important business decisions
 To know when to sell your business or otherwise
 To determine how the business will be funded
 To understand when/how profit will be made
 Help you predict problems
 Provides a valuation for the business
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 To share your business plans with coworkers and family

 To provide you with guidance during difficult situations
 To create an effective marketing strategy
 To give you the best chance of success
 Manage cash flow for the business
 To determine the success of the business
3.0 EXECUTIVE SUMMARY

XYZ FinTech is a Nigeria-based financial technology and digital lending company with her head office located in an office
facility in Central Business District, Abuja, Federal Capital Territory. It is a global fintech payment system that provides
findings, store and transfer payment information for personal and business developments.
Our core business is lending (loan & credit facilities) with applications can also be used to pay for goods and services
directly as well as make peer-to-peer (P2P) fund transfers using their mobile devices. XYZ FinTech Limited is a world-class
licensed banking platform that is based in Abuja FCT Nigeria, which has a huge market for it products. With a detailed
market research and feasibility studies being conducted as well as realistic financial projections will, no doubt, assist the
firm to have a solid foundation/starting point for the business. With solid financial background and collective experience
of the management team, getting a fair share of the market, especially in the Federal Capital Territory (FCT), where there
is a huge market, is ostensibly, not negotiable. Therefore, there is need to establish the firm and possibly expand the
capacity in meeting the growing customers’ demand within FCT and by extension to make XYZ FinTech a household name
in Nigeria.
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XYZ FinTech Limited therefore wish to raise the sum of Two Hundred Million Naira (N200,000,000) through the
management team/partners to establish the financial technology firm. The funds will take care of all registrations with
relevant authorities, capital, rent, salaries and other overhead costs needed to have a good business strong enough to
favourably compete with other existing ones within the market environment.
The company is leveraging on the vast opportunities available in the financial industry, to contribute her quota in the
industry, and to satisfy customers’ needs at profit and ultimately contribute to growing the Nigerian economy. XYZ
FinTech Limited will is well positioned to become one of the digital leading platforms in Nigeria, with the best financial
technology to run the business successfully.
Processes and strategies have been put in place to promote best practices for loans/credit facility as required by the
regulatory bodies in Nigeria. Customers’ best interest is paramount, and all activities are guided by our values and
professional ethics.
We have always ensured that we hold ourselves accountable to the highest standards by meeting Customers’ needs. A
working environment that provides a humane, sustainable approach to earning a living is provided for partners,
employees and Customers.
From our operational and financial analysis, it can be concluded that the fintech company will be profitable and will
generate liquidity sufficient to settle the loan (Principal and Interest) as at when due. The projected total profit from
loans and credit facilities is in the sum of N............Also, the cash flow projection shows that the business will have
cash liquidity of N..........at the end of first year and will continue to grow annually if all the assumptions materializes.
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4.0 COMPANY PROFILE
4.0.1 NATURE OF BUSINESS
XYZ FinTech Limited is to provide loans/credit facilities for personal and business development purposes. It is meant to
operate the business-to-consumer model or transfer completely to a business-to-business approach.
4.0.2 THE INDUSTRY
XYZ FinTech Limited will operate under the Financial Technology (FinTech) industry in Nigeria
4.0.3 MISSION STATEMENT
Our mission is to make financial services more accessible to all and sundry.
4.0.4 VISION STATEMENT
Our vision is to be the leading innovative digital technology solutions fintech company that aim to optimize financial
services for our clients.
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4.0.5 GOALS AND OBJECTIVES
Increase Revenue:
This is our basic business goal and our objectives for this goal include:
 Achieve sales quota

 Increase customer
 Expand our operations
Increase Profit
This goal involves evaluating productivity and operational efficiency with the following objectives:
 Increase utilization rates

 Reduce days to deliver
 Reduce product cost
Have Happy Customers
XYZ FinTech Limited is committed to Customers’ happiness. When customers are happy, that typically indicates effective
business operations across all departments. Happy customers also help defend the business from competitive threats and
customer fatigue. Below are ways in which we identifies customer pain points to increase customers’ happiness;
 Increase customer visits (Online & Offline)

 Reduce customer hold time
Foster Strong Culture
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At XYZ FinTech Limited, employees will have both professional and personal development opportunities borne out of a
culture of welfare for all staff. This encourages continuous engagement on a platform of mutual respect. Some of the ways
in which the company will achieves this include;
 Regular team building meetings

 Training programs
Build Amazing Product
Nothing represents our business more than our products, so product improvement and excellence are at the forefront of
our goals. We understand the competitive landscape, new revenue opportunities, and market appetite and have mapped
out the most profitable approach to our product goals. Here are a few examples of how the firm will achieve this goal:
 Increase future sales

 Apply new design
4.0. 6 OUR MOTTO
XYZ FinTech Limited – Bridging financial gaps between the Deficit and Surplus sides through FinTech!
4.0.7 LEGAL STRUCTURE OF THE BUSINESS (LLC, C Corp, S Corp, LLP)
XYZ FinTech Limited will be formed as a Limited Liability Company (LLC).
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5.0 PRODUCTS AND SERVICES

We have array of products and services which will be reviewed from time to time to meet the industry and our customers
growing needs with regards to the following;
 Lending (Loans & Credits)

 Digital banking
 Payment services
 Investment management services
 Unbanked/underbanked services that seek to serve disadvantaged or low-income individuals who are ignored or
underserved by traditional banks or mainstream financial services.
PRODUCTS/SERVICES
5.1 XYZ Retail Loan
This loan facility is for traders with lockup shops who have viable businesses with daily sales to augment their working
capital.
Features
 Attractive interest rate

 Loan availed through personal guarantee or collaterals and charttel mortgage.
 Flexible repayment structured against the business turnover.
 Tenor is within 240 days
 Loan amount of maximum of N1,500,000.
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5.2 XYZ Payroll Loan (Public Sector)
This is a loan facility designed to meet urgent needs and bridge liquidity gaps of salary earners in public establishments. It
is structured against monthly salary
Features
 The net salary determines the loan amount to be availed.

 Competitive interest rate.
 Seamless service delivery.
 Convenience in repayment
 Flexible tenor
5.3 XYZ Payday Loan (Private Sector)
This is a loan facility designed to meet urgent needs and bridge liquidity gaps of salary earners in private establishments. It
is structured against monthly salary.
Features
 The net salary determines the loan amount to be availed.

 Competitive interest rate
 Seamless service delivery.
 Convenience in repayment
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 Flexible tenor.
5.4 XYZ Asset Loan
This product is designed to procure desired assets for our customer cutting accross different types of home appliances -
TV, Refridgerator, Deep Freezer, Air Conditioner, Washing Machine, Microwaves, to mention a few from reputable
vendors. With this product, the customer has possession while the bank has ownership.
Features

 Flexible tenure
 Asset serves as collateral.
 Seamless asset delivery
 Convenient repayment pattern.
 Comprehensive insurance required on the asset
5.5 XYZ SME Loan
Small Medium Enterprise (SME) loans are designed to enable small entrepreneurs access business loans – working capital,
project, supply (LPO) etc. Securities for these loans are based on traditional collaterals. The loan is to augment working
capital and not for start-up business.
Features
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 Flexible collateral.
 Repayment is structured for every 30 days
 Business turnover determines the loan amount
 Tenor is within 180 days
6.0BUSINESS ENVIRONMENT ANALYSIS

6.1 INDUSTRIAL BACKGROUND
Over the last decade, fintech has become perhaps the most exciting industry in Nigeria. Hundreds of companies have
popped up, attracting up to two-thirds of all local start-up funding in recent years. In 2021 alone, the sector handled close
to $700 million in digital transactions with a visible and reasonable percentage increase in 2022. However, recent
developments including a decrease in enthusiasm for digital finance fueled by the crypto crash, a series of scandals, an
ailing global economy and an oversaturated industry have left Nigerian fintech looking a little worse for wear.
Nonetheless, these could be looked at as mere growing pains for a sector that is yet far from reaching its ceiling. As telcos
begin to foray into the digital finance game, competition in the sector promises to heat up. So where does that leave the
traditional banking sector? After spending decades building the financial infrastructure of the continent, do African banks
risk becoming obsolete in the wake of digital disruption? Or will they adapt to the digital avenue and turn their perceived
weakness into a strength?
The last few years have been very kind to the Nigerian fintech industry. With 150 to 200 fintech startups calling Nigeria
home, the country seemed poised to become the uncontested African leader in the industry. The sector raised around
$440 million in investments in 2020, more than $600 million in 2021 and over $800 million in 2022 amounting to nearly a
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quarter of the total funds attracted by African tech startups. That figure rises to almost two-thirds in the case of Nigeria.
This is a perfect proof of the untapped potential in African economies. Fintech startups have enjoyed success and growth
in Nigeria due to certain factors including the low penetration of banking services, a youthful population making good use
of an explosion in smartphone ownership, and recent regulatory changes that have increased the number of cashless
transactions.
The next few years will probably be a great moment for Nigerian fintech. The industry has done remarkable work in
providing financial services to the youth, the age demographic least likely to have a traditional bank account. This may
lead to an entire generation of Nigerians seeing fintech as the most obvious, or even the only viable option for their
banking needs, while dismissing traditional banks as slow and antiquated institutions.
6.2 SWOT ANALYSIS
6.2.0 STRENGTH
Every entity has some internal strengths they can leverage on. Such can give an unimaginable support to the success of an
organization. This includes;
 Effective structure in place to help consumers enjoy a seamless digital banking experience
 Highly experienced and qualified employees and management
 Highly secured payment platform
 Access to finance from business partners
 Water-tight strategies on how to expand beyond major markets
 Good returns on investment for our investors.
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6.2.1 WEAKNESS
Every entity has some internal issues affecting them
 Financial Constraints
 We will be competing with well-established fintech companies and traditional banks
 Inability to retain our highly experienced and qualified employees longer than we want
6.2.3 OPPORTUNITIES
 Partnerships and mergers between established companies and fintech startups are becoming more frequent.
 Digital banking services are taking over as about 70 percent of people exclusively use digital channels for their
financial needs
 Good support structure for fintech companies in the operating environment.
6.2.4 THREATS
These include but not limited to unfavorable government policies and regulations, Cyber security challenges, Differences
in management and culture, Liability problems and Continuously changing consumer demands especially as it relates to
how they expect fintech companies to serve them. They can be summarized with the acronym PEST meaning Political,
Economic, Social and Technology factors as given below;
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 Political;
A change in government can affect business either positively or negatively on the business as most governments tend to
introduce policies that ensure security of investor's money in the country. However, following government policies will
mostly not have adverse effects on business and this is what
 Economic;
Macro-economic factors including interest rate, exchange rate, and inflation, fiscal and monetary policies can have either
positive or negative impacts on the financial/banking business, factors to pay more attention to are, impact of inflation on
cost of input, increase in tax, and interest rates.
 Social factors;
These factors include change in consumers’ needs and taste, demography, health needs etc.
 Technology;
New methods of banking are constantly evolving; innovations on mobile, internet and other fintech present a good
prospect for business development.
6.3 Competitors Analysis
Porter’s five forces model provides a framework for analyzing the strength of competition in the market, these are;
 Threat from potential entrants

 Threat from substitute products or services
 The bargaining power of suppliers
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 The bargaining power of customers

 Competitive rivalry within the industry
Threat from potential entrants;

The significance of the threat depends on how easy or difficult it would be for new competitor to enter the market, the
cause could be cost of entering the market in term of capital requirement, regulatory requirement. The financial industry
is a competitive market and new firms can join once the minimum capital requirement is met. However, the company can
overcome this by product differentiation, excellent customer service and customer loyalty.
Threat from substitute products or services;

There is a threat from substitute products when customers can switch fairly easily to accept alternative products. There is
a presence of the threat in the business. Even though, banking products especially loans types are similar but what will
give us an advantage over others is simply customer service because we have zero tolerance for service failure.
The bargaining power of customers;

Customers can reduce the profitability of a business if they have considerable buying power, this can be reduced by having
many customers of relative high demand. Bank charges are very competitive, removing the motivation for customers to
switch to another bank, making customer’s bargaining power low.
Competitive rivalry within the industry;

Competition within an industry obviously also determined by the rivalry between competitors. Strong competition forces
rival firms to offer their products to customers at lower price and this keeps profitability low. There is a healthy
competition within the fintech business in Nigeria which provides a stable industry.
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6.5 MARKET ANALYSIS
Market Trends
The global fintech market reached a value of nearly $162,674.5 million in 2022, having increased at a compound annual
growth rate (CAGR) of 11.1% since 2017. The market is expected to grow from $162,674.5 million in 2022 to $388,062.0
million in 2027 at a rate of 19.0%.
The Nigerian fintech market is expected to grow to $15 billion by 2025, according to a 2021 report by PwC. This growth is
being driven by a number of factors, including the increasing adoption of smartphones and mobile internet, the growing
popularity of e-commerce, and the government's support for fintech innovation. Some of the key trends in the Nigerian
fintech market include:
Digital lending: Digital lending platforms are making it easier for SMEs to access loans without having to go through the
traditional banking system. These platforms typically use alternative data sources, such as mobile phone records and
social media activity, to assess creditworthiness.
Mobile payments: Mobile payment platforms are making it easier for SMEs to accept payments from customers. These
platforms allow SMEs to accept payments from a variety of sources, including mobile wallets, credit cards, and debit cards
7.0 Our Target Market

The target market is all encompassing and far reaching. Everyone and business needs money for different reasons and the
demand for this grows on daily basis. The traditional lending system struggling to meet a certain percentage of this
market. Unfortunately, the growth rate if the market has far outgrown what they can handle. So, digital lending is a better
alternative considering the response times and daily introduction of technology to the industry.
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Who is Your Target Audience?
i. Age Range
Our target market comprises adults above 18 years who are in need of funds for personal and business purposes.
ii. Level of Education
We don’t have any restriction on the level of education of those we are ready to work with.
iii. Income Level
There is no cap on the level of income of the people that can use our platform.
iv. Ethnicity
There is no restriction when it comes to the ethnicity of the people that can make use of our platform.
v. Language
We have no restrictions when it comes to language.
vi. Geographical Location
People from any geographical location will be welcome to partner with us or do business with our company.
vii. Lifestyle
We will not restrict any investor or client from partnering or doing business with us based on their lifestyle, culture, or
race.
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8.0 OPERATION PLAN
8.1 Sales and Marketing Strategy

Fintech sales professionals are responsible for identifying potential customers, understanding their needs and challenges,
and presenting solutions that meet their requirements. They may also be involved in negotiating and closing deals, as well
as building and maintaining relationships with clients. These can be achieved through many channels which include;
 Introduce our business by sending introductory letters to the target audience.

 Leverage on the internet to promote our business
 Engage in direct marketing
 Encourage the use of word of mouth marketing (referrals)
 Advertise our business in banking and financial related magazines and websites
 Attend related banking and financial expos, seminars, and business fairs et al
8.2 Advertising and Promotion Strategies
 Host themed events that catches attention.

 Tap into text marketing.
 Make use of billboards.
 Share our events in local groups and pages.
 Turn our social media channels into a resource
 Develop our business directory profiles
 Build relationships with players in the Financial Technology industry.
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8.3 Traditional Marketing Strategies
 Marketing through Direct Mail.

 Print Media Marketing – Newspapers & Magazines.
 Broadcast Marketing -Television & Radio Channels.
 OOH Marketing – Public Transits like Buses and Trains, Billboards, Street shows, and Cabs.
 Leverage direct sales, direct mail (Brochures, letters, fliers), tradeshows, print advertising (magazines, newspapers,
coupon books, billboards), referral (also known as word-of-mouth marketing), radio, and television.
8.4 Digital Marketing Strategies
 Social media marketing platforms.

 Influencer Marketing.
 Email Marketing.
 Content Marketing.
 Search Engine Optimization (SEO) Marketing.
 Affiliate Marketing
 Mobile Marketing.
8.5 Social Media Marketing Plan
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 Start using all social media platforms like Facebook, WhatsApp, YouTube etc.
 Create a personalized experience for our customers.
 Create an efficient content marketing strategy.
 Create a community for our target market
 Gear up our profiles with a diverse content strategy.
 Use brand advocates.
 Create profiles on relevant social media channels.
 Run cross-channel campaigns.
8.6 Pricing Strategy
When working out our pricing strategy, XYZ FinTec Limited will make sure it covers profits, insurance, premium, and
economy or value and full package for each transaction, In all our pricing strategy will reflect;
 Cost-Based Pricing
 Value-Based Pricing
 Competition-Based Pricing.
8.7 SALES AND DISTRIBUTION PLAN
8.7.0 Sales channels
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Our channel sales strategy will involve using partners and third parties—such as referral partners, affiliate partners,
strategic alliances in the Financial Technology industry, and the finance and banking industry to help refer clients to us.
XYZ FinTech Limited will also leverage the 4 Ps of marketing which are place, price, product, and promotion. By carefully
integrating all of these marketing strategies into a marketing mix, so we can have a visible, in-demand service that is
competitively priced and promoted to our customers.
8.7.1 Inventory Strategy
The fact that we will need office supplies means that XYZ FinTech Limited will operate an inventory strategy that is based
on a day-to-day methodology for ordering, maintaining, and processing items in our office. We will develop our strategy
with the same thoroughness and attention to detail as we would if we were creating an overall strategy for the business.
8.7.2 Payment Options for Customers
Payment options XYZ FinTech Limited will make available is all inclusive because different customers prefer different
payment options while abiding by the financial rules and regulation of Nigeria.
Here are the payment options that are available to Customers;
Payment via bank transfer
Payment via bank deposit
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Payment via online bank transfer
Payment via mobile banking app
Payment via USSD code
Payment via POS
Payment via bank draft
Payment with cash
8.7.3 Customer Support Strategy
Our customer support strategy will involve seeking customers’ feedback. This will help us provide an excellent return on
investment (ROI) and customer service to all our clients and investors. It will also help us to understand their needs,
experiences, and pain points. We will work with effective CRM software to be able to achieve this.
We will work towards strengthening our Customer Service Team and also Leverage Multi-Channel Servicing as part of our
customer support strategy.
9.0 OWNERSHIP/SHAREHOLDER STRUCTURE & BOARD MEMBERS
 Name....(Chairman, Board of Directors) .......% Shares

 Name.....(Chief Executive Officer/Managing Director)....% Shares
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 Name....(Board Member/Executive Director, Marketing/Business Development)... % Shares

 Name....(Board Member/Executive Director Operations) ......% Shares
10.0 BUSINESS STRUCTURE

XYZ FinTech Limited is a privately owned and managed digital lending platform in Abuja, Nigeria, but hope to expand in
order to compete favorably with other leading FinTech firms in the country.
We are aware of the importance of building a solid business structure that can support our vision. This is why we are
committed to only hire the best hands and brains in the industry. We have qualified, hardworking, and creative, result
driven, customer centric employees and management, who work to build a prosperous business that will benefit all the
stakeholders (the owners, workforce, and customers).
Our team members are as follow;
10.1 CHAIRMAN, BOARD OF DIRECTORS
The Chair of the Board will perform the duties as set out in the Board Mandate, or otherwise delegated by the Board or
the Governance and Nominating Committee, and such other duties as may be necessary or appropriate, including:
 Chairing all Board meetings and in camera sessions of the Board and establishing appropriate meeting procedures;
 Setting the agenda for Board meetings in consultation with the Chief Executive Officer and the Corporate Secretary,
based on input from directors;
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 Ensuring the Board has adequate resources, including the appropriate flow of information and reviewing the
adequacy and timing of materials;
 Providing leadership to the Board in overseeing strategy and supervising management’s progress against achieving
the Bank’s strategic goals;
 Monitoring Board committees in carrying out and reporting responsibilities delegated by the Board;
 Facilitating a candid and full discussion of all key matters that come before the
Board, ensuring that sufficient time is allotted during Board meetings for this and ensuring that the independent
directors have adequate opportunities to meet to discuss matters without management present and that decisions
are made on a sound and well-informed basis;
 Providing input to the Governance and Nominating Committee on recommendations to the Board for nomination of
new directors and Board committee chairs, and on succession plans for the Chair of the Board and committee chair
positions;
 Serving as a member of all Board committees except as otherwise determined by the Board;
 Encourging an atmosphere of openness and trust and maintaining a cohesive group with a shared understanding of
the Bank’s Purpose without losing diversity of opinion and objectivity; and
 Facilitating the ongoing formal and informal communication with and among
directors, and acting as a sounding board for the independent directors.
Management Relations
 Maintaining on-going and active communications, on behalf of the Board, with the
Chief Executive Officer and other senior executives;
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 Overseeing, in conjunction with the Human Resources Committee, the development of the Bank’s succession plans
for senior executives; and in conjunction with the Human Resources Committee, reviewing the Chief Executive
Officer’s performance targets and objectives and his or her assessments.
Shareholder Relations
 Chairing all annual and special meetings of the shareholders; and

 Facilitating communications between the Board and its shareholders.
Liaison Role
 Acting, as necessary, as liaison between the Board and the Bank’s stakeholders;
 Meeting with representatives of the Bank’s regulators, as required, including the regulatory authorities
 Evaluating Board Effectiveness
 In conjunction with the Governance and Nominating Committee, evaluating Board
effectiveness and suggesting improvements;
 Initiating performance discussions with individual directors when appropriate or when requested by the
Governance and Nominating Committee;
 Meeting with directors annually on a one-on-one basis to assess areas where the
Board and its committees can operate and individual directors can contribute more
effectively; and
10.2 CHIEF EXECUTIVE OFFICER/MANAGING DIRECTOR
Lead Strategy;
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 Set the vision for the company and define the overall strategy from launch to scale, including long-term goals.
 Drive growth, profitability and company value
 Develop and implement scalable and efficient strategies to ensure both consistent results and exponential growth
Build Great Talent & Teams;
 Attract, retain & develop world-class talent, including making recruitment decisions of full leadership team
 Cultivate a high-performing, agile, one-team culture
Execute with Excellence:
 Drive day-to-day operations

 Align resources to achieve key business priorities
 Proactively mitigate business, operational & governance risks
 Own the operational budget and manage burn rate while growing the business ahead of market disruptions
Win in the Marketplace;
 Drive continuous improvement

 Manage competition and threats in the marketplace, with constant evaluation of financial structure, capital strategy
& strategic priorities
Disrupt & Innovate;
 Continue to develop the business model ahead of the market

 Provide expert guidance to all functional areas, including operations, sales & productMobilize Stakeholders
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 Regularly report updates to Board of Directors and corporate stakeholders regarding progress on strategic priorities,
and collaborate with Board of Directors to accelerate progress
 Invest in strategic partnerships & relationships to drive growth
 Inspire with Meaning & Purpose
 Serve as chief external spokesperson and public champion for the business
 Establish credibility throughout the customer and partner network by authentic engagement to galvanize company
to create & drive solutions to core business challenges.
10.3 EXECUTIVE DIRECTORS (OPERATIONS)
 Establish and review key operational risk indicators/key control standards and formulate action plans to minimize
the Bank’s exposure to fraud and losses.
 Manage the Bank’s operational risk exposure by supporting the business to identify areas of operational risk
exposure and by developing and implementing corrective action.
 Design, develop and keep updated the Banks’ Operations Manual and ensure compliance to all operational
guidelines, processes, and procedures.
 Responsible for re-engineering business processes to improve customer service, cost effectiveness and controls.
 Ensure compliance with Regulatory requirements relating to Banking Operations.
 Ensure that effective documentation is in place, in the form of user guides and implement operational
improvements to reduce operational costs, tighten controls, improve service quality and customer service.
 Manage the Banking Operations Department (staff and budget).
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10.4 EXECUTIVE DIRECTORS (MARKETING)
 Overseeing organizational marketing operations

 Contributing to their company's strategic vision by offering creative marketing solutions
 Establishing and reviewing a budget for their department
 Researching and analyzing marketing trends to plan campaigns strategically
 Communicating with other directors to deliver the best possible campaigns
 Reviewing the status of various marketing campaigns
 Providing marketing managers with creative ideas
 Recruiting, hiring and training staff members within their department
 Developing clear, actionable goals annually
 Attaining updated technical knowledge to make informed decisions
 Building brand awareness through their department's marketing efforts
10.5 COMPANY’S LAWYER/SECRETARY
 To ensure compliance of the provisions of Companies Law and rules made there-under and other statutes and bye-
laws as well as the memorandum and articles of association of the company.
 To arrange with and to call and hold meetings of the board and to prepare a correct record of proceedings.
 To attend the broad meetings in order to ensure that the legal requirements are fulfilled, and provide such
information as are necessary.
 To prepare, approve, sign and seal agreements leases, legal forms, and other official documents on the company’s
behalf when authorised by the broad of the directors or the executive responsible.
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 The Company Secretary has the legal obligation to file various documents/returns as required under the provisions
of the Companies Law.
 To ensure the proper maintenance of books and registers of the company as required under the provisions of the
Companies Law.
10.6 ADMIN AND HR MANAGER
 Develop and oversee the recruitment process.

 Ensure Compliance and Record-keeping
 Annually review the Personnel Handbook recommending amendments needed due to changes in local conditions or
labor laws.
 Manage time clocking system for office, ensuring timely submission, approval, accuracy, and filing.
 Compensation and Benefits
 Facilitate job analysis and update job descriptions.
 Payroll and Budget Administration
 Ensure smooth running of all administrative functions in the firm.
 Training, Development and Performance Maintenance
 Employee Relations
 Coach, counsel, and discipline employees.
 Initiate, coordinate, and enforce systems, policies, and procedures
Customer Service Executive/Front Desk Officer
FinTech Operations Specialists/Programmers and Software Developers
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10.7 DIGITAL MARKETERS (MARKETING AND SALES EXECUTIVE)
 Develop, implement and manage the organization’s social media strategy.

 Work with Growth Marketing Manager to define and report regular important social media KPIs.
 Manage and oversee social media content and accounts across all social media platforms
 Managing the digital marketing calendar
 Creating visual concepts for promotional activities
 Maintaining the online presence and reputation of the company
 Overseeing the creation and maintenance of social media content
 Tracking digital marketing performance
 Creating and updating digital marketing reports
 Generate original content and collaborate with partners (case studies, videos, blog, articles, email, social media,
etc.) to develop and drive product growth.
 Grow and manage community
 Implement and monitor SEO and user engagement and suggest content optimization.
 Promote company brand and products online and creatively connect with our target audience through various
digital channels to drive growth.
 Increase company’s online visibility, awareness and protect its reputation
 Use insights and performance metrics to increase market penetration and brand equity
10.8 FRONT DESK / CUSTOMER’S SERVICE OFFICE
30
 Welcomes Customers and potential Customers by greeting them in person, online or on the telephone;
answering or directing inquiries.
 Ensures that all contacts with Customers (e-mail, walk-In center, SMS or phone) provides the Customer with a
personalized customer service experience of the highest level
 Through interaction with Customers on the phone, uses every opportunity to build Customer’s interest in the
company’s products and services
 Manages administrative duties assigned by the creative director in an effective and timely manner
 Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to
ensure accurate and helpful information is supplied to Customers when they make enquiries
10.9 INFORMATION TECHNOLOGY MANAGER
 Manage information technology and computer systems

 Plan, organize, control and evaluate IT and electronic data operations
 Manage IT staff by recruiting, training and coaching employees, communicating job expectations and appraising
their performance
 Design, develop, implement and coordinate systems, policies and procedures
 Ensure security of data, network access and backup systems
 Act in alignment with user needs and system functionality to contribute to organizational policy
 Identify problematic areas and implement strategic solutions in time
 Audit systems and assess their outcomes
31
 Preserve assets, information security and control structures

 Handle annual budget and ensure cost effectiveness
11.0 MOBILE MONEY OPERATOR LICENSE
Corporate documents include the following:
 Details of ownership and holding company structure (if applicable);

 Incorporation documents;
 BVN, CV and means of ID of the directors and top management (including one independent non-executive director,
chairman and managing director);
 Business plan;
 Requisite policies and framework;
 Project deployment time; and
 Signed agreements with its partners.
 Application fees etc
12.0 CONCLUSION AND RECOMMENDATIONS

From the operational and financial analysis, the proposed XYZ Fintech firm to be financed by investment from board
members and inflows from operation appears profitable as presented by the profitability analysis. And also the cash
flow projection does not present any funding gap, the investment from board members can be successfully repaid
from operations without need for further borrowings, the assumptions stated were conservative and realistic.
32
13.0 FINANCIAL PLAN
Amount Needed to Start XYZ Financial Technology (FinTech) Company?
XYZ FinTech Limited intends to invest an estimated amount of N200 million to successfully set up the Financial Technology
(FinTech) company in the Abuja as given below;
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Xyz Fintech Nig LTD Business Plan

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TABLE OF CONTENTS :

XYZ FINTECH BUSINESS PLAN|

1.0 XYZ FINTECH LIMITED BUSINESS PLAN

Executive summary 3-5

Company Profile 5-8

Products and Services 8-12

Business Environment Analysis 12-19

Operation plan 19-25

Business structure 25-37

Conclusion and recommendations 37-38

Financial analysis 38-

Why a business plan is important for XYZ FinTech Limited?

 It puts a plan in place when starting a new business

 To share your business plans with coworkers and family

3.0 EXECUTIVE SUMMARY

4.0 COMPANY PROFILE

4.0.1 NATURE OF BUSINESS

4.0.2 THE INDUSTRY

4.0.3 MISSION STATEMENT

4.0.4 VISION STATEMENT

4.0.5 GOALS AND OBJECTIVES

 Achieve sales quota

 Increase utilization rates

 Increase customer visits (Online & Offline)

 Regular team building meetings

 Increase future sales

4.0. 6 OUR MOTTO

4.0.7 LEGAL STRUCTURE OF THE BUSINESS (LLC, C Corp, S Corp, LLP)

XYZ FinTech Limited will be formed as a Limited Liability Company (LLC).

5.0 PRODUCTS AND SERVICES

 Lending (Loans & Credits)

5.1 XYZ Retail Loan

 Attractive interest rate

5.2 XYZ Payroll Loan (Public Sector)

 The net salary determines the loan amount to be availed.

5.3 XYZ Payday Loan (Private Sector)

 The net salary determines the loan amount to be availed.

5.4 XYZ Asset Loan

 Competitive interest rate

5.5 XYZ SME Loan

 Competitive interest rate

6.0BUSINESS ENVIRONMENT ANALYSIS

6.2 SWOT ANALYSIS

Every entity has some internal issues affecting them

6.3 Competitors Analysis

 Threat from potential entrants

 The bargaining power of customers

Threat from potential entrants;

Threat from substitute products or services;

The bargaining power of customers;

Competitive rivalry within the industry;

6.5 MARKET ANALYSIS

7.0 Our Target Market

Who is Your Target Audience?

ii. Level of Education

iii. Income Level

We have no restrictions when it comes to language.

vi. Geographical Location

8.0 OPERATION PLAN

8.1 Sales and Marketing Strategy

 Introduce our business by sending introductory letters to the target audience.

8.2 Advertising and Promotion Strategies

 Host themed events that catches attention.