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Disruptive Banking: Top 5 Digital Bank Apps

As technology keeps evolving, the rise of new disruptive digital platforms have been on the rise too.

What is Disruptive Technology;
A disruptive technology is one that displaces an established technology and shakes up the industry or a ground-breaking product that creates a completely new industry. Harvard Business School professor Clayton M. Christensen coined the term disruptive technology.

Uber came in to disrupt the usual workflow of taxis, Gokada disrupted Motorcycle Transportation, and so many more, now we have apps that are shaking up the banking industry with lower transaction fees, virtual debit cards, tap to pay, verve cards.

What is a digital bank?
Digital banking is part of the broader context for the move to online banking, where banking services are delivered over the internet. The shift from traditional to digital banking has been gradual and remains ongoing, and is constituted by differing degrees of banking service digitization

Funding These Digital Banks

You can fund your digital banks through your debit cards, payment into an account (rubies), in app transfers (within the same platform).

Top 5 Digital Banks In Nigeria

  1. Rubies
  2. Alat
  3. GetBarter
  4. Opay
  • Jumia One


Rubies offers customizable account numbers (customizable nuban) with 40% lower transaction fees and a verve card to use nationwide. Rubies also offers investment schemes and an opportunity to earn from referrals and signups. Rubies is owned by Highstreet Microfinance Bank.


Alat, owned by Wema Bank offers Dollar and naira virtual cards, 10% annual returns on investment, Instant Loans, Debit card, Bills payment,airtime topup, local bank to bank transfer,


Owned by Flutterwave,is a digital bank that offers Virtual Naira and Dollar Mastercards, Lower transaction fees (N25), Bills payment,airtime topup, local bank to bank transfer, Mvisa QR code payment.


Owned by Opera Inc, yehp the Opers Browser owns Opay. Opay Offers the following services: local bank transfers, transfer to your Opay account via bank transfers, bills and utility payments, loans, ininvestment schemes with Blue ridge Microfinance Bank, lifestyle features like: Oride,Obus,Ofood,

Jumia One:

this app infuses digital banking with an intense touch of lifestyle. Jumia One, owned by Jumia offers the following services: utility payment, uber,hotel bookings, Jumia payment support, Investment plans in partnership with Axa Mansard… Jumia one currently doesnt have bank to bank transfers or any method of recieving funds, which still leaves its digital banking accolade questionable.

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