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Google Cloud and Moniepoint have joined forces to provide financial services to underbanked businesses in Nigeria.
The collaboration aims to bridge the banking gap in remote areas and communities, making financial services accessible to millions of small and medium-sized enterprises (SMEs).
By leveraging Google Cloud’s scalable infrastructure, Moniepoint is able to process $14 billion worth of financial transactions monthly, offering secure and low-latency banking services to SMEs in remote locations.
This partnership is crucial in enabling micro-businesses in Nigeria to accept digital payments, contributing to their success. With Google Cloud’s scalable infrastructure,
Moniepoint aims to expand its customer base to three million within the next 18 months as it expands across Africa.
This collaboration addresses the fact that 50% of Nigeria’s adult population is currently underbanked, and Google Cloud’s infrastructure has helped automate transactional processes, reducing processing time from eight hours to just 10 minutes.
As a result, Moniepoint has seen an increase in the number of customers relying on its seamless and secure services.
