Moniepoint  launches new USSD banking service for enhanced customer experience, security

Moniepoint Microfinance Bank, renowned as Nigeria’s leading financial institution catering to small and medium-sized businesses, along with their customers and employees, has introduced its latest innovation: a new Unstructured Supplementary Service Data (USSD) banking service.

Accessible via the account control code *5573#, this newly unveiled USSD service offers consumers a fast, secure, and user-friendly platform to conduct their banking activities conveniently from any mobile device, without the necessity of an internet connection.

The introduction of this USSD banking suite is anticipated to significantly enhance convenience and accessibility for customers, underscoring Moniepoint Microfinance Bank’s unwavering commitment to promoting financial inclusion and bolstering safety and security within the digital payment ecosystem.

The USSD Banking suite encompasses a diverse range 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.

Furthermore, the implementation of the *5573# code serves as a crucial security measure against unauthorised access, providing customers with the capability to promptly safeguard their accounts in the event of mobile phone loss or theft, compromised account details, or suspected fraudulent activities, without necessitating direct contact with the bank.

Moniepoint Microfinance Bank’s initiative reflects its proactive approach to meeting the evolving needs of its customer base while prioritising the security and convenience of digital banking experiences.

“At Moniepoint MFB, our top priorities are delivering exceptional customer service through digital innovation and ensuring the highest security standards,” said  Managing Director, Moniepoint MFB, Babatunde Olofin.

”Our new USSD service provides the convenience of mobile banking with an added layer of security that gives customers control over protecting their accounts, even by using a third-party mobile device.”

He continued, “We have always been guided by our mission to create a society where everyone experiences financial happiness, and in these times, what that looks like for us is increasingly empowering consumers to take charge over their bank accounts, even as we curate a seamless and secure banking experience.

“In addition, we have always spoken about our commitment in supporting the central bank’s financial inclusion agenda, with this feature, customers, especially the least digital-savvy ones, irrespective of their location have now been eminently positioned to carry out a wide range of transactions effortlessly.”

Existing customers, encompassing business and personal accounts, can initiate transactions and manage their accounts, by navigating to USSD Banking settings on their mobile banking app in order to activate this feature while new users will have the feature activated by default upon sign up.

It will be recalled that in 2022, Moniepoint MFB received an award from the CBN as the most inclusive payment platform in the country.

Moniepoint MFB helps over 3 million people and businesses with banking, payments processing, access to loans and business management tools with a view to powering their dreams.