VMT News Ltd
No 1 News Site in Nigeria

Moniepoint expands services to promote financial inclusion for SMEs, individuals

80
Moniepoint expands services to promote financial inclusion for SMEs, individuals

Moniepoint Microfinance Bank, has expanded its services into the personal banking segment to support Central Bank of Nigeria’s (CBN) goal of achieving 95 per cent financial inclusion by 2024.

Acting Managing Director, Moniepoint MFB, Mr Babatunde Olofin, said this at a news conference on Monday in Lagos.

Olofin said the move would improve access to diverse, affordable and tailored financial services catering to distinctive needs of individuals and Small and Medium Enterprises (SMEs) across Nigeria.

He said the bank buoyed by its experience with over 1.6 million organisations leveraging its payments, credit and business management tools was committed to aggressively deploying its technical knowhow.

This, he stated, would guarantee reliability for people not included in recognition of the transformative potential that broader financial access held for all strata of society spurring socioeconomic growth and stability.

Olofin also stated the bank’s credentials as a leading innovator in the fintech space having pioneered several products and technologies.

“We have powered the dreams of a lot of business owners and we know what individuals need.

“We want to include everyone from the regular ‘Okada’ rider to the market woman in the financial services space.

“We have built our infrastructure in such a way that it is very elastic and as transactions grow, we are able to expand our infrastructure.

“Also, in every nook and cranny of the nation, we have our business relationship representatives, even in localities where there are no physical bank or ATM presence,” he said.

The managing director also announced a gamified in-app approach that would see thousands of users win N2,000 weekly and a grand prize of N10 million.

Read Also: Mother of 5-month-old baby killed by dog in Osun narrates ordeal

Olofin said this was in furtherance of curating an enjoyable user experience for consumers and powering the dreams of many.

Senior Vice President, Channels and Sales Tools, Moniepoint MFB, Ope Adeyemi, described the innovative touch point as an incentivising tool for deepening financial inclusion.

Adeyemi said consumers were rewarded with coins on their personal banking app after they carried out transactions, which allowed them take part in exciting weekly games such as shuffle and spin the wheel.

“We want to supercharge financial inclusion because we realise that if you want to drive behavioural change and increase adoption, you should reward consistently good behaviour.

“Moniepoint believes firmly that financial inclusion is a commitment to uplift communities, nurture businesses and enrich individual lives.

“By embracing the diversity of Nigeria’s economic landscape, Moniepoint MFB is positioned to facilitate sustainable development and prosperity for all,” he said.

Moniepoint expands services to promote financial inclusion for SMEs, individuals

Support Voice Media Trust journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country, we ask you to consider making a modest support to this noble endeavour.

By contributing to Voice Media Trust, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate into:

Dollar Account:

  • A/C NO: 3003093745
    A/C NAME: VOICE MEDIA TRUST LTD
    BANK: UNITED BANK FOR AFRICA

Naira Account:

  • A/C NO: 1023717841
    A/C NAME: VOICE  MEDIA TRUST LTD
    BANK: UNITED BANK FOR AFRICA

Leave a Reply