Babatunde Olofin, The Managing Director of Moniepoint MFB
Moniepoint Microfinance Bank, renowned as Nigeria’s go-to financial institution for small and medium-sized businesses, along with their clientele, has unveiled its latest innovation: the Unstructured Supplementary Service Data (USSD) service. Accessible through the account control code *5573#, this cutting-edge service provides customers with a swift, secure, and user-friendly platform to conduct banking activities seamlessly from any mobile device, without requiring an internet connection.
This strategic move aims to elevate convenience and accessibility for users while reinforcing the bank’s dedication to fostering financial inclusion and amplifying safety and security within the digital payment sphere.
The USSD Banking suite encompasses an array of services, including Funds Transfer, Airtime and Data Purchase, Account Balance and Details Inquiry, PIN Management, and Account Security Measures such as Blocking/Unblocking access for oneself or others. The introduction of *5573# serves as a robust security measure against unauthorized access, empowering customers to promptly secure their accounts in case of mobile phone loss, theft of ATM cards, hardware tokens, or potential account compromise situations, all from the convenience of their mobile devices.
Babatunde Olofin, the Managing Director of Moniepoint MFB, emphasized the institution’s commitment to delivering exceptional customer service through digital innovation while upholding the highest security standards. He highlighted the new USSD service as a testament to Moniepoint MFB’s mission of promoting financial happiness and enabling consumers to take proactive control of their banking affairs.
Olofin stated, “At Moniepoint MFB, we prioritize delivering exceptional customer service through digital innovation and ensuring the highest security standards. Our new USSD service provides the convenience of mobile banking with an added layer of security that empowers customers to protect their accounts, even when using a third-party mobile device.”
He added, “Our commitment to supporting the Central Bank’s financial inclusion agenda is unwavering, and with this feature, customers, especially those less digitally savvy, are now empowered to carry out a wide range of transactions effortlessly, regardless of their location.”
Existing customers, including both businesses and individuals, can activate this feature by navigating to USSD Banking settings on their mobile banking app, while new users will have it activated by default upon sign-up.
It’s worth noting that Moniepoint MFB was honored with an award from the Central Bank of Nigeria in 2022 as the most inclusive payment platform in the country. With a track record of empowering over 3 million individuals and businesses with banking solutions, payment processing, access to loans, and business management tools, Moniepoint MFB continues to set the standard for reliability, innovation, and value-added solutions in the Nigerian financial landscape.