By Dipo Olowookere
The mobile lending app of Zedvance Finance Limited, MoneyPal, has been reintroduced with some modifications aimed to make loans accessible to millions of Nigerians in a fast and convenient manner.
The new mobile application comes with a redesigned user interface, simplified application process and access to more nano loans. This is part of an effort to redefine the app into a lifestyle product.
The Managing Director of Zedvance Finance Limited, Mr Ever Obi, in a statement, disclosed that the upgraded MoneyPal app comes with fascinating new features that would provide a top-notch and seamless digital lending experience for its existing and potential customers.
“Zedvance Finance has always been at the forefront of providing best-in-class financial solutions to its customers; we are very excited to relaunch the MoneyPal app to also serve millions of both salary and non-salary earners in Nigeria.
“MoneyPal was redesigned in response to extensive consumers’ feedback and changing user trends, with a focus on simplicity, security, availability, and speed.
“We upgraded the mobile app to meet our consumer financial lifestyle as a customer-centric business. That’s why we are rolling out the new app with the #MadeForMore campaign,” he was quoted as saying, adding that the company intends to serve one million new users through the mobile app and other digital channels.
On his part, the company’s Head of Product Marketing and Brand Communications, Mr Lukmon Oloyede said, with the new app, new and existing customers can now get up to N100,000 nano loans within minutes on the app.
According to him, this is accessible to both non-salary earners and salary earners within 18-55 years with an active bank account, BVN, email and phone number.
He also said MoneyPal comes with biometric sign-in option to keep the user account more secure, with in-app notifications allowing users to stay more connected with prompt product updates.
Mr Oloyede also said user can now check their credit history and learn more about their loans through the updated app as new and existing customers can now repay their nano loans within 15 – 90 days, depending on the loan amount selected.
He assured that the application is in full compliance with the data privacy regulation of the Central Bank of Nigeria (CBN) while all users can now enjoy more benefits for referring their friends.
The brand expert described the referral program as a point-based system, where more points would be earned for referring more people. The points, according to him, can be exchanged for an item in the company’s gift shop once the maximum redeemable number of points is attained.
Apart from this feature, users can instantly pay off loans through a unique, personalized account number created for each user on the MoneyPal app. The virtual account number is on the homepage dashboard.
“We will continue to develop our digital proposition even further over the next months – exceeding the expectations of our customers whilst improving our customer experience,” Mr Oloyede added, hinting that the company will be announcing an Unstructured Supplementary Service Data (USSD) code lending option and asset financing (Buy Now, Pay Later) service this year.
He advised Nigerians to download the MoneyPal app on App Store (iOS) and Android Play Store for free and apply for instant cash.
Modupe Gbadeyanka 
Aduragbemi Omiyale