Retail investors are rising.

But they're hitting a wall.

Nigeria’s investment sector is surging, but this growth won't be captured by platforms stuck in legacy thinking.

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Big shifts start small

Why retail investors matter

Big shifts are the effect of a series of seemingly independent trends working together. You only have to look a little closer

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Opportunities for Wealth Creation became Democratized

Investment opportunities became more accessible through mobile platforms.

Increased Financial Literacy

The rise of platforms like MoneyAfrica, and other financial content creators informed more people on how to budget, save, and invest.

Young Retail Investors Wanted a Slice

The Millennial and Gen-Z generation were searching for financial freedom in the right places

Macroeconomic Pressures

They were not able to invest as much in dollar-dominated offerings anymore but they decided to take advantage of the right local investments.

Investors want simplicity.

Platforms deliver stress.

In Q1 2024, retail investors overtook institutions, a historic shift from 2023’s 186% gap, but with fewer than 500,000 active retail investors today.

this opportunity is still largely untapped due to
Outdated platforms
Broken flows
Broken conversions
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Digital Experiences

To understand the digital experience gap, we reviewed 10 digital products in the market.

Industry average usability score
43.2/100

(below the global benchmark of 68/100)

Here’s what we found
Leaders
Only 2 products had great UX
Group of ladies using an application and smiling
One-page registration with clear progress indicators
Fast KYC Verification
Easy to search for stocks and purchase them
Learners
4 had just good enough UX
A man holding a book and using his phone
Multi-page registration with some confusing navigation
Slight delays in reflecting wallet deposits
Portfolio visualization didn’t reveal any basic insights
Laggers
The last 4 had poor UX
A woman looking distressed when using her phone
Broken registration flows with no confirmation/ completion indicators
Significant delays in processing deposits
Hidden search button making it difficult to find and purchase stock

Winning Nigeria’s N56.3bn market takes more

Retail investors are the new growth engine, but poor digital experiences are costing platforms their future.

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Here’s what retail investors want
Seamless onboarding
Fast processing
Intuitive interface
Jargon-free education

Two proof points. One pattern.

Great experiences turn one-time investors into loyal ones and digital transformation that meets users where they are, works.
Spotlight 1

Bamboo

Created a platform that serves over 400,000 customers below 38 years
Listed NGX stocks after discovering the average age of investors in the NGX is 50 years
Gained over 30,000 new accounts in 2024.
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Spotlight 2

Robinhood

Removed account minimum limit and commissions on trades to encourage first-time investors
Embedded over 1000 educational resources to improve financial literacy
Over 23 million funded accounts with an average account size of $3,500
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Let’s get you ready for retail

Companies that invest in UX outperform their peers in user acquisition and retention. At Check, we specialise in building digital experiences that convert, retain, and scale.
Our Approach
Audit & Strategy
We pinpoint hidden friction in your onboarding, payments, and flows.
Design
We rethink every screen and interaction around the needs of retail users.
Product Development
We launch investment platforms designed not just to look good, but to win hearts.

Your next 100,000 users won’t be HNIs

They’ll be everyday people looking for clarity, trust, and ease. Let’s rethink your platform to meet Nigeria’s growing retail investment market.
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