A TOOL TO FIGHT FRAUD IS UNVEILED BY MONIEPOINT MFB

Unstructured Supplementary Service Data, or USSD service, has been unveiled by Moniepoint Microfinance Bank, Nigeria’s leading bank for small and medium-sized enterprises, their clients, and staff. This service, which can be accessed using the account control code *5573#, provides users with a quick, safe, and easy-to-use platform to perform their banking from any mobile device without internet connectivity. In addition to demonstrating the bank’s dedication to financial inclusion and boosting safety and security throughout the digital payment ecosystem, this action is anticipated to improve accessibility and convenience.

The USSD Banking suite, according to Moniepoint MFB, offers a range of services such PIN management, Airtime and Data Purchase, Funds Transfer, Account Balance and Details Inquiry, and Account Security Measures like Blocking/Unblocking access for oneself or others. The adoption of *5573#, it was asserted, was a security measure against unauthorized access, protecting customer cash in the event that hardware tokens, ATM cards, or mobile phones are lost or stolen, or in circumstances where account information may have been hacked.

Customers can use this code to quickly and easily safeguard their accounts from any mobile device without having to get in touch with the bank—especially if they suspect fraud. According to Babatunde Olofin, Managing Director of Moniepoint MFB, “our top priorities are ensuring the highest security standards and delivering exceptional customer service through digital innovation.” He continued, “Our new USSD service gives customers control over protecting their accounts, even when using a third-party mobile device. It offers the convenience of mobile banking with an extra layer of security.”

Current users—both personal and business—can conduct transactions and manage their accounts by going to the USSD Banking settings on their mobile banking app. New users, on the other hand, will automatically have this option active when they join up. Recall that Moniepoint MFB was recognized by the CBN in 2022 as the nation’s most inclusive payment platform. With the goal of enabling their aspirations, Moniepoint MFB provides banking, payment processing, loan access, and business management solutions to over a million individuals and companies. In the Nigerian market, Moniepoint MFB has built a strong reputation for dependable service, innovation, and a strong dedication to providing value-added solutions.