The sharing economy is forcing banks to compete with dynamic tech firms outside the traditional financial sector. While competition is key, “Uberization” is also creating opportunities for synergy between banks and P2P platforms.
Imagine you’re one of the nearly 40 million Tanzanians who live in a rural community. It would most likely take a day of your time and a considerable portion of your earnings just to travel to the nearest brick-and-mortar financial institution.