Powering the dreams of businesses in emerging markets.
ROLE
Research
Information Architechure
UI/UX Design
Branding
Design System
PLATFORM
Andriod
MPOS
BACKGROUND
Moniepoint provides an all-in-one payments, banking and operations platform for businesses.
Cash is king in Nigeria; despite the proliferation of digital payment options, cash remains the preferred mode of payment for most Nigerians. The existing infrastructure could only handle cash transactions, notwithstanding the aspirations of regulators and financial institutions for a digital-centric payment system.
WHAT WE WANTED TO SOLVE
Building a bank for businesses
Information from Statista showed that 51% of Nigeria’s 99 million adult population were financially underserved. This inclusion gap was caused by a dependence on physical cash and a need for high-touch financial services, which the current banking infrastructure cannot provide at scale.
In agency banking, clients still have access to the full suite of banking services, but they do so through non-bank entities rather than banks themselves. In both heavily populated urban areas and rural areas without access to conventional banking services, these agents can be modest retail establishments or solopreneurs armed with point-of-sale terminals and wads of cash, prepared to serve.
Moniepoint planned to use these terminals to facilitate transactions on behalf of the banks or financial institutions, making banking services more accessible to a broader range of people.
115
No. of Participants
Through a Facebook group for agents, we started reaching out to people and invited many of them to visit our Lekki office, offering them free lunch and gift cards to get them there. Our goal was to work directly with workers to learn about their problems and needs.
Over a hundred people showed up, which was a huge reaction. This chance gave us a chance to have deep talks with them, hear their worries directly, and get the information we needed to make a product that really met their needs.
Existing solutions were complex.
Agents mainly worried about online transaction security.
Reliability issues stemmed from dependence on the telecom networks.
Agents sought fast settlements and quick transaction reversals.
POS access was restricted by cost, insurance absence, and performance.
Securing loans for daily cash flow was essential.
Looking at the competition
Since most of the agents we hired came from other agency banking options and used more than one provider, it was important to look at what our competitors had to offer. This method was not only necessary to figure out how to make our answers even better, but it was also needed to make sure that our first ideas were correct.
Fingerscan, 2FA, PIN
Hide account balance
0.6% withdrawal charge
Frequent downtime
Incomplete transactions
Fingerscan, 2FA, PIN
Hide account balance
0.5% withdrawal charge
Minimal downtime
Great customer support
Fingerscan, 2FA, PIN
0.5% withdrawal charge
Minimal downtime
Average UX, Average UI
Poor Navigation
Difficult onboarding flow
Fingerscan, 2FA, PIN
Hide account balance
0.75% withdrawal charge
Moderate downtime
LIGHTS. FIGMA. ACTION
Design solution
I dove headfirst into my task, armed with all this new knowledge. It seemed clear to me that design was the only way to resolve my issues, though. My team and I were able to pinpoint these problems and come up with a solution during a workshop. Here were a few of our main worries:
We chose a clean, modern design with a soothing colour palette and readable font for user-friendliness. Above all, we made sure our agents could readily browse the product despite the POS's restricted interface.
Customer Feedback
The best of its kind. The recent update renders stability in transactions, great interface and better summary of transactions. We look forward to seeing data added to your services.
Jane Obi
Business owner
Great user interface and sleek. It was also able to sync with my old account without any glitches.
Irediaa Prodigy
Business owner
This is an amazing app, I love the fact that I can check banks' network status, so with the app I can be rest assured that I won't really fall victim of a network glitch.
Adekanye Daniel
Business owner
Vanity metrics
1.6M+
Businesses
onboarded
succeesfully
$ 12.5B+
Transactions
processed
monthly
99%
Transaction
completion
rate
Key takeaways
Though it took me a while to realise it, this product was designed to increase cash availability. This product is my favourite since it immediately and completely changes agency banking and also affects people's well-being. It also set the stage for business banking solutions.
This experience also showed the importance of user demands in design. Putting our agents first simplified complex financial procedures. An easy interface enhanced payment processing, inventory management, and financial decision-making due to our user-centered approach.