Accion Microfinance Bank (MfB), a microfinance institution, has launched AccionMonie, a digital financial services platform designed to empower micro, small, and medium enterprises (MSMEs), low-income households, and underserved individuals.
The app, unveiled as part of the bank’s “Always there to lend you a hand” campaign, is designed to expand digital access to essential financial services, including loans, savings, and capital, all tailored to the unique needs of small business owners and everyday Nigerians seeking financial empowerment.
AccionMonie offers user-friendly features, including instant loans, targeted savings, locked savings for long-term goals, and an innovative Save2Loan product, which allows customers to access twice their saved amount in loan value after a 90-day saving cycle of between N50,000 and N250,000. Other features include seamless account funding via debit cards, referral earnings, on-demand bank statements, and secure account management tools.
Speaking at the launch, Taiwo Joda, chief executive officer of Accion MfB, described the innovation as “a significant milestone” and a clear reflection of the bank’s evolving customer-centric strategy.
“At Accion Microfinance Bank, we believe in the potential of every MSME to drive inclusive economic growth,” Joda said. “That is why we are committed to empowering them with the financial support they need to grow, innovate, and make a lasting impact in their communities and beyond.”
MSMEs form the backbone of Nigeria’s economy. With an estimated 37 million enterprises nationwide, they account for 86% of employment and contribute about 48% to GDP. Yet, many are still stifled by a lack of access to affordable financing and formal banking services.
According to Stephen Olalere, chief commercial officer, the integration of AccionMonie with the bank’s extensive network of over 74 branches across 12 states will provide a powerful blend of physical and digital reach.
“We are removing traditional barriers to financial access. With AccionMonie, business owners and individuals can easily make payments, access savings, and get loans in ways that are simple, timely, and aligned with their lifestyles,” Olalere explained.
Also speaking at the unveiling, Paul Ehiagbonare, the bank’s Chief Digital Officer, said the platform signals a new era in Accion MfB’s digital maturity journey.
“This is not just about launching a digital product. It is about partnering with our customers to help them grow and succeed, when others may not. AccionMonie is built to be a dependable ally, offering real-time, personalized support for entrepreneurs, traders, and families,” he noted.
The launch of AccionMonie reflects Accion MfB’s strong commitment to innovation and inclusive finance at a time when Nigeria’s digital economy is growing rapidly. By leveraging technology, the bank hopes to scale its impact and reach millions more excluded from the traditional financial ecosystem.
