Moniepoint announces N10m incentivizing tool to deepen financial inclusion


Moniepoint Microfinance Bank on Thursday announced a N10 million grand prize incentive tool and a weekly N2000 win for its customers.

The Senior Vice President, Channels and Sales Tools, Ope Adeyemi, described this touchpoint as an incentivizing tool for deepening financial inclusion.

Adeyemi said at media conversation in Lagos that Moniepoint wanted to supercharge financial inclusion, because it realized that to drive behavioral change and increase adoption, one should reward consistently good behavior.

He said that customers are rewarded with coins on Moniepoint personal banking app after every  transactions.

According to him,  these coins allow them take part in exciting weekly games such as ShuffleSpin the Wheel.”

‘’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, as it continues its role as a driver of progress and shared prosperity,’’ Adeyemi said.

The Ag. Managing Director, Moniepoint MFB, Babatunde Olofin, said that Moniepoint Microfinance Bank had expanded its services into the personal banking segment.

He said this was in a significant stride towards supporting the Central Bank of Nigeria’s ambitious goal of achieving 95 per cent financial inclusion by 2024.

Olofin said that this strategic move aimed at expediting and improving access to diverse, affordable, and tailored financial services that catered to the distinctive needs and circumstances of individuals.

He said that it also catered to the needs of small and medium-sized businesses across Nigeria.

According to him, the bank is committed to aggressively deploying its technical knowhow to guarantee reliability for people that are not included.

He said that this was in recognition of the transformative potential that broader financial access held for all strata of society.

Olofin expressed his enthusiasm about the bank’s expanded role in the financial inclusion drive and the opportunity to power the financial happiness of millions of people across the continent.

The managing director stated the bank’s credentials as an innovator in the fintech space, which had pioneered several products and technologies – dynamic transaction switching, hyperlocal distribution network, virtual account service and instant PoS bank transactions.

“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, the market woman in the financial services space.

‘’We have built our infrastructure in such a way that it is very elastic.

According to him, as transactions grow, Moniepoint is able to expand its infrastructure and this is because it has several monitoring tools that help it monitor how transactions are growing.

He said that Moniepoint  was in every nook and cranny of the nation, with business relationship representatives, even in localities where there was no physical bank or ATM presence.

Olofin took the audience on an enthralling journey through the organization’s structure, delineating the relationship between Moniepoint MFB, TeamApt and the holding company, Moniepoint Inc.

He said that Moniepoint had birthed a robust and reliable digital payment infrastructure that had carried out an average monthly transaction value of $12billion for about 1.6million businesses.

Moniepoint Inc., is a fintech company founded by Tosin Eniolorunda and Felix Ike in 2015 focusing on providing financial solutions for businesses.


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