Moniepoint’s Smart Scaling with GCP
PROJECT OVERVIEW
Location: Nigeria
Industry: Finance
Moniepoint is Nigeria’s leading financial services platform, dedicated to driving financial inclusion for underbanked small and medium-sized enterprises (SMEs). Since its launch in 2019, the platform has experienced remarkable growth, processing over 650 million transactions monthly with a total value exceeding $14 billion. Moniepoint’s mission to provide reliable financial services, even in Nigeria’s most remote regions, positions it as a trailblazer in the fintech space.
THE CHALLENGE
Moniepoint’s rapid expansion brought growing pains. A lack of cost controls and measurement resulted in excessive cloud expenditure, while fragmented data management hindered operational efficiency and the ability to leverage data for product development and strategic growth. To maintain its growth trajectory and meet the needs of its expanding customer base, Moniepoint needed a solution that could reduce costs, optimise resource use, and create a unified approach to managing and leveraging data.
ADG’S ROLE
ADG partnered with Moniepoint to address these challenges by implementing FinOps practices that prioritised cost efficiency and resource optimisation. The collaboration extended to the development of a unified data warehouse, enabling Moniepoint to integrate AI and machine learning (ML) tools for deeper analytics, improved customer experiences, and more informed decision-making.
THE SOLUTION
Moniepoint utilised Google Cloud Platform (GCP) to support its operational needs and ambitious growth plans. To boost FinOps practices, cost controls were established, and resource inefficiencies were identified, which led to significant reductions in monthly cloud expenditure. Through a unified data strategy, data was consolidated into a single warehouse to enable seamless integration of AI/ML solutions for enhanced customer service and operational insights. By leveraging GCP’s tools and ADG’s expertise, Moniepoint was able to streamline operations, reduce waste, and position itself for sustainable growth.
THE RESULTS
Through this partnership, Moniepoint achieved a substantial reduction in monthly cloud expenditure, ensuring resources were allocated more efficiently. The unified data strategy now serves as a foundation for integrating AI-driven solutions, positioning Moniepoint to enhance operational efficiency and improve customer experiences.
CUSTOMER HIGHLIGHT
“ADG guided us in optimising our usage, cutting costs, and moving towards a consolidated data strategy to improve our operations and customer service.”
— Nicolaas Taljaard, Moniepoint
PIONEERING FINANCIAL INCLUSION WITH INNOVATION
Moniepoint’s adoption of GCP and FinOps practices underscores the company’s commitment to leveraging technology for smarter operations. With a consolidated data strategy and efficient resource management, Moniepoint is well-equipped to continue driving financial inclusion for underbanked SMEs across Nigeria.