Business
Moniepoint Relaunches Personal Banking Referral To Enrich Customers
Moniepoint MFB, Africa’s fastest-growing financial institution, has relaunched its personal banking referral programme to enrich its customers as they enjoy the Moniepoint experience with family and friends.
The referral programme is designed to reward users every time their friends or family perform a transaction on Moniepoint after signing up with their referral link. Through this, millions of people will earn well over ¦ 100,000 from referrals alone.
Moniepoint’s technology has powered over 3 million businesses across Nigeria, and with its reliable infrastructure now in the hands of personal users, it now enables seamless payments for many across the country.
With referrals linked to transfers, a leading payment method for many in Nigeria, this referral programme will provide extra income for many of its users.
Commenting on this development, Babatunde Olofin, Managing Director of Moniepoint MfB, noted that the customer-centric referral programme supports the bank’s focus on driving financial inclusion while helping to accelerate its vision of creating a society where everyone experiences financial happiness.
“We know how important seamless financial transactions are, and we’ve seen first-hand the power of peer to peer recommendations and how word-of-mouth referrals can grow a customer base and increase revenue.
Given our strong customer obsession and the strings of commendations which we have received that validate the work we do in providing peerless financial services, we want to provide our customers with rewards even as they continue to share these positive experiences with the Moniepoint brand.
“Each current and new personal account holder has been provided with a unique referral code which is identical to their account username and is visible in the Referral Section on the Personal Banking app.
This code/link can be shared with anyone, who, upon signing up and with the Moniepoint Personal Banking app, will contribute to rewards for transactingthe referrer.
“For every outward interbank transaction conducted by referred customers in the next 12 months, participants will receive a commission.
“This transparent and straightforward incentive structure ensures that participants reap tangible benefits for actively promoting the Moniepoint Personal Banking app.
“Referrers can also track the total earnings and referral history from their referral in the ‘Earn from Referrals’ icon in the app, while earnings can be transferred to the user’s main account once a minimum of ¦ 50 has been earned”, Olofin said.
He said Moniepoint MFB has worked with the Central Bank of Nigeria (CBN) to strengthen the security of the banking industry in the past month, pausing its onboarding.
He continued that it has now resumed signing up users with a commitment to providing its users with a secure, convenient and rewarding financial experience.
According to him, the referral programme is just one of the many ways the company is innovating to empower Nigerians and make financial services more accessible.
It will be recalled that Moniepoint MFB had in the last few months demonstrated peerless commitment to customer focus and satisfaction as evidenced by the opening of its Lekki Admiralty Road office, as well as the roll out of a USSD code, which offer users a fast, secure, and user-friendly platform to conduct their banking activities with ease.
According to media reports, Moniepoint Inc. currently processes the majority of the Point of Sales (POS) transactions in Nigeria through its subsidiaries, processing over $182 billion in annualised Total Payment Volume (TPV), and, as a profitable enterprise, it is Africa’s largest fintech by transaction volume.
Stories compiled by Lilian Peters
MoniePoint Inc. a digital financial firm in Nigeria, has said it is empowering community pharmacists across the country with innovative payment solutions to improve access to drugs.
The financial firm said it had also provided loans for pharmacists under the aegis of the Association of Community Pharmacists of Nigeria (ACPN) to drive healthcare delivery in the country.
MoniePoint in a release titled, “Inside Nigeria’s community pharmacies: How Moniepoint drives healthcare access with payments and funding”, has reaffirmed its commitment to providing digital payment solutions to improve health outcomes in Nigeria.
The release examined how community pharmacies play a crucial role as vital access points for medical care in Nigeria, especially in areas with limited hospital or clinic access.
According to the release, the ACPN National Chairman, Ambrose Igwekwam, highlighted the critical role played by community pharmacies in Nigeria’s healthcare system over the years.
Igwekwam, however, expressed concerns over the challenges confronting the nation’s pharmaceutical industry which he said was hindering access to affordable medicines.
The pharmacist listed poor infrastructural systems, power, transportation, regulatory bottlenecks, importation dependency, and limited research opportunities as major challenges facing the pharmaceutical sector.
He also stressed the need for robust collaborative efforts with institutions like Moniepoint to strengthen the sector.
“As Nigeria continues to grow, improving local pharma manufacturing to meet the demands of this growth presents a key opportunity for us all.
“There is also the African Continental Free Trade Area Agreement, which is expected to boost our industry, especially when we start producing our drugs locally, which will provide the much needed foreign exchange from exports.
“We are also seeing advancements in digital health and technology which would hopefully deepen the practice of e-prescription in Nigeria”, the ACPN boss said.
Corlins Walter
In order to enhance customer service and streamline operations, the Chartered Insurance Institute of Nigeria (CIIN) has called on stakeholders in the insurance industry to embrace Artificial Intelligence (AI).
The President of the institute, Yetunde Ilori, made this call at the 2024 Office Representatives Committee (ORC) Workshop, organised by the institute, with the theme “AI and the Future of the Insurance Industry”, in Lagos.
Ilori at the event, emphasised the importance of AI adoption, noting that it was not a threat to jobs but rather a tool to improve efficiency across the insurance sector.
“It is not about AI taking over our jobs, but about us using AI to simplify processes and give maximum satisfaction to all the customers we serve whether as underwriters, brokers, loss adjusters, or in educating our members”, she said.
The workshop, which brought players in the insurance sector together, aimed to address how AI could be leveraged to transform business processes and improve customer interactions.
The Chairman of the ORC, Monica Nwachukwu, underscored the role of AI in modernising the industry, adding, “AI can automate customer and claims processes, allowing insurers to provide faster and more efficient services to their customers”.
She explained how AI could help extract data from legacy systems, enhancing decision-making processes.
“By integrating AI with APIs, insurers can feed valuable data into AI solutions to improve operations and customer service”, she added.
In his address, the Managing Partner of A4S and Training Heights, Orlando Odejide, stressed the need for companies to align their strategies with future technologies like AI, especially as they prepare for 2025.
“Any organisation that wants to grow into the future must have its strategic plan in place. If your strategy for 2025 is not ready, it should be done by October”, he advised.
He encouraged participants to think critically about how AI could be integrated into their business models to ensure they remain competitive.
“The idea is for you to use this workshop as a platform to think about your organization and how AI can help streamline your processes and improve growth”, Odejide noted.
In order to gain global respect and recognition, the National Space Research and Development Agency (NASRDA) has reaffirmed its determination to pursue its goal in ensuring that Nigeria’s space capabilities are recognised on the world stage.
The agency also reaffirmed its commitment to positioning Nigeria as a key player in the global space economy.
In a statement by the Director of Media and Corporate Communications, Dr. Felix Ale, NASRDA revealed that the Director-General of the agency, Matthew Adepoju, emphasised this during recent engagements at the 79th United Nations General Assembly and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and Global Alliance Business Association international conference in Michigan, United States.
The statement noted that Adepoju outlined a forward-thinking agenda, stressing the importance of Nigeria’s space programme as a leader in research, exploration, and technological innovation.
“Our goal is to ensure that Nigeria’s space capabilities are recognised on the world stage.
“We must foster collaborations with global space agencies to enhance our satellite capabilities and technological infrastructure”, he stated.
The NASRDA boss said the agency is focusing on enhancing satellite capabilities, expanding international collaborations, and leveraging space science for national development.
He said NASRDA will have no stone unturned in pursuit of excellence, ensuring the agency secures the necessary resources and recognition to propel it forward.
“The relationships we build today will pave the way for tomorrow’s advancements in space science.
“Innovation and progress thrive in an environment built on collaboration and inclusivity”, he stated.
He emphasised that with the support of the government, international partners, and a dedicated team, NASRDA is poised to make significant strides in the evolving global space landscape.
“We are on the brink of a new era for Nigeria’s space agency. Together, we will ensure our nation stands out in the global space economy”, he said.
Corlins Walter
