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This glossary defines the key operational, financial, and performance metrics used throughout the investment materials.

Key metrics highlight the scalability, capital efficiency, and defensibility of the Bankeaz model.

Glossary

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Growth Metrics

Customers

Total number of active accounts on the platform (individuals and SMEs), excluding closed or blocked accounts.

Monthly Active Customers (MAC)

Customers generating revenue within the last 30 days.
Core engagement metric.

Activity Rate

Percentage of active customers over total customers.
Indicates platform usage and stickiness.

Organic Customer Growth

Customers acquired without paid marketing (direct, referrals, diaspora networks).
Key driver of scalable and capital-efficient growth.

Paid Customer Acquisition

Customers acquired through paid channels (ads, campaigns, distribution partnerships).

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Unit Economics

CAC (Customer Acquisition Cost)

Total cost to acquire a customer, including marketing, onboarding, and operational costs.

LTV (Lifetime Value)

Total expected contribution margin generated per customer over their lifecycle.

Key assumptions:

• Discount rate: 12%

• Lifetime: capped at 10 years

• Based on cohort performance and churn

LTV/CAC Ratio

Measures return on customer acquisition.
Primary efficiency metric for scaling.

ARPAC (Average Revenue Per Active Customer)

Average monthly revenue generated per active customer.

Cost to Serve per Active Customer

Average monthly cost required to operate and support an active customer.
Includes infrastructure, transactions, and support.

Contribution Margin

Revenue per customer minus variable costs (BaaS, FX, cards, operations).
Core profitability indicator.

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Platform & Product

BzAccount

Core account infrastructure powering the platform.

• Personal BzAccount: individual users

• SME BzAccount: business users

Primary Banking Relationship

Customers using Bankeaz as their main account.
Defined as ≥50% of income flows processed through the platform.

Interest-Earning Portfolio

Financial assets generating interest (loans, credit products), gross of provisions.

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Risk & Compliance

ECL (Expected Credit Loss)

Projected credit losses calculated under IFRS standards.

First Payment Default (FPD)

Failure to repay the first scheduled payment within 10 days.
Early signal of credit deterioration.

IFRS (International Financial Reporting Standards)

Global accounting framework governing financial reporting.

IASB (International Accounting Standards Board)

The body responsible for IFRS standard setting.

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Structural & Strategic Metrics

Primary Banking Penetration

Share of customers using Bankeaz as their main account.
Critical for monetization depth.

Corridor

A defined cross-border financial flow between two geographies (e.g., EU → West Africa).
Core unit of expansion strategy.

Diaspora Acquisition Channel

Customer acquisition via diaspora networks and partnerships.
High-trust, low-CAC, high-conversion distribution model.

Infrastructure Layer

Bankeaz positioning as a financial infrastructure rather than a traditional neobank.
Enables multi-country scalability and reduced dependency on third-party banking layers.