Moniepoint expands access for underbanked SMEs & individuals in Nigeria
By Delisha Fernandes
Moniepoint, a FinTech company, has expanded its financial services access to underbanked SMEs and individuals across Nigeria.
Moniepoint’s comprehensive financial services platform provides underbanked and underserved SMEs and individuals with a one-stop solution for payment processing, access to credit, and streamlined operations in powering their dreams. Its unique approach combines technology with a robust network of local merchants and offline engagement team across every nook and cranny of Africa’s political and economic powerhouse.
As the wider world continues to rapidly embrace digital payments, access to financial services has become critical for businesses and to thrive. But for the underbanked and underserved, especially in rural areas, this access remains a major hurdle.
According to latest research released by EFInA in its Access to Financial Services in Nigeria survey, approximately 40 million adult Nigerians remain formally excluded even though we have seen a leap in formal financial inclusion as it grew from 56% (2020) to 64% (2023).
With the shift from traditional to digital transactions gaining some fillip, Africa’s leading fintech, Moniepoint recognizes the challenges posed by this digital shift, particularly for the underbanked communities. Felix Ike, CTO and co-founder of Moniepoint, 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,” added Ike.
The company’s growth is also creating sustainable employment opportunities, with thousands of direct hires across Nigeria and millions more jobs supported indirectly through the growth of Moniepoint’s business customers. 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.
IBSi FinTech Journal

- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage
Other Related News
Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q4 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More