Moniepoint Broadens Accessibility For Underbanked SMEs And Individuals in Nigeria
Nigerian Fintech company Moniepoint has expanded accessibility for underbanked small and medium-scale enterprises (SMEs) and individuals in Nigeria, extending financial inclusion.
The Fintech startup through its financial services platform will provide underbanked and underserved SMEs, as well as individuals, with a one-stop solution for payment processing, access to credit, and streamlined operations to propel their goals and businesses.
Speaking on this, CTO and co-founder of Moniepoint, Felix Ike said, “Our guiding principle is financial happiness for everybody. Even if you are underbanked and in a far-flung and remote area, you should be getting access to the best financial products available.
“With Google Cloud’s infrastructure solutions, we’ve been able to quickly and reliably scale our platform to reach millions of customers, process billions in transactions, and expand economic opportunities. This flexibility allows us to adapt and expand rapidly without compromising performance or security,”
As the wider world continues to rapidly embrace digital payments, access to financial services has become critical for businesses to thrive. But for the underbanked and underserved, especially in rural areas, this access remains a major hurdle.
With a focus on financial inclusion, Moniepoint has rolled out plans to eliminate hurdles that affect financial inclusion in Nigeria.
The startup understands that small businesses are the bedrock of the economy, with SMEs employing 84 percent of the country’s entire workforce and contributing 48 percent to Nigeria’s gross domestic product, GDP.
The company says the expansion became necessary for it to achieve its aim of empowering small and medium-sized enterprises, and SMEs to grow the nation’s economy.
As Moniepoint expands to serve individuals as well as SMEs with credit facilities, savings, and other exciting products, it aims to empower even more underbanked communities by ensuring access to modern, digital financial services.
