1.6 million organisations leveraging Moniepoint, set to promote financial inclusion for SMEs, individuals

1. 6 million organisations leveraging moniepoint, set to promote financial inclusion for smes, individualsMoniepoint Microfinance Bank says 1.6 million organisations leveraging its tools, It is now expanding its services into the personal banking segment to support the Central Bank of Nigeria’s (CBN) goal of achieving 95 percent financial inclusion by 2024.

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

1. 6 million organisations leveraging moniepoint, set to promote financial inclusion for smes, individuals
Moniepoint financial inclusion conversation

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.

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.