Moniepoint denies being “layered” on GTB Infrastructure
Moniepoint Group, the parent company of Moniepoint MFB has denied claims by the CEO of Educare, Alex Onyia that its system was layered on the infrastructure of GTBank.
Responding to a post on X by the Educare CEO, Moniepoint said its engineers built its infrastructure internally and not layered on any bank.
While acknowledging that there could be collaborations among financial institutions, the company said it is wrong and unfounded to assert that it routes its transactions through GTBank.
Debunking the claim via the same channel, Moniepoint said:
- “Hello Alex, Moniepoint’s infrastructure isn’t layered on any bank, but on our CBA built by engineers in-house with a hybrid cloud architecture. While collaborations happen in the financial services space and are important, incorrect assertions aren’t good for anyone.”
People with knowledge of the banking system and engineering also disagree with Alex on the assertion noting that it would have been impossible for Moniepoint to offer seamless services if its transactions are being routed through GTBank, which is one of the traditional banks witnessing pressure on their systems.
Indeed, according to them, the experience during the recent cash scarcity would also prove otherwise, as Moniepoint was one of the fintechs whose platforms became the saving grace for many Nigerians while all traditional banks, including GTBank, were suffering glitches due to an increase in online transactions.