Sunday Okobi
A microfinance institution, Citygate Global, has unveiled a multi-purpose mobile loan application, Monéé, which it said was designed to also cater for loan, savings, funds transfer services, investment, bill payment among others for customers.
The management of the company, while speaking at the unveiling of Monéé, said the app was designed as a one-stop loan App and financial technology service digital platform for the growing population of loan users on digital platforms across Nigerian segments.
Speaking at the launch of the financial technology App in Lagos recently, the Group Managing Director/CEO of Citygate Global Group, Dr. Seun Durojaye, said: “We are excited to announce the introduction of Monéé, a unique financial technology product from the stable of Citygate Global, after two and a half years of thorough research and product development to create an industry most customer-friendly digital loan App that comes with other key financial technology services for the growing Nigerian market.
“Monéé is simultaneously a mobile loan App as well as for savings, investment, bills payment and funds transfer. We are here to grow the economy, individuals, businesses as business people need our facility to go ahead.
“Our customers can now access the beauty of affordable loans 24 hours daily in just few minutes. The future of banking is digital, and that is Monéé.”
Durojaye told journalists that, “with Monéé, individuals can get a quick fix to their financial challenges with a Nano loan from N5,000, N10,000 and up to N25,000 or more at a relatively low interest rates compared to what is obtainable among similar products in the Nigerian market today. While on the other hand, our specially profiled High Net-worth Individual (HNI) customers can instantly access up to N2 million loan facility through the unique Monéé App.
“With Monéé, Nigerians can do all their banking transactions without being physically present in a bank at lower interest rates compared with those charged by competition.”
He added that Monéé would be a revolutionary product in the market.
According to him, “Our Monéé App is unique when compared to other Apps doing similar functions in the Nigerian market today; it is the second wallet based FinTech App in Nigeria that has a NUBAN compliant account number facility that can pay and receive fund transfer from any bank in Nigeria direct unlike others.
