Moremonee Wins Innovative Firm of the Year at African Industrial & Development Awards 2025
TL;DR
Moremonee's innovative features like daily interest and high-yield savings plans provide users with financial advantages and faster wealth accumulation opportunities.
Moremonee's platform works through features like Snappy for error-free transfers, biometric security systems, and structured savings plans with fixed interest rates.
Moremonee aims to reduce financial stress and poverty in Africa by providing accessible banking solutions that help communities grow wealth and confidence.
Moremonee's Snappy feature lets users transfer money by taking photos of account details instead of manual typing, making banking feel like a lifestyle app.
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Moremonee, a Nigerian fintech company, has been named the Innovative Firm of the Year at the African Industrial and Development Awards (AIDCA) 2025, marking a significant achievement in the company's mission to redefine banking for Africa's younger generation. The recognition highlights Moremonee's innovative approach to financial services that specifically targets Generation Z consumers across the continent.
Launched in 2023, Moremonee has rapidly established itself as what it calls the "Gen Z bank," offering a comprehensive suite of features that combine speed, security, and innovation into what the company describes as a lifestyle experience rather than traditional banking. The platform's success stems from its deep understanding of Generation Z's expectations for efficiency, trust, transparency, and inclusivity in financial services.
The company's platform includes several groundbreaking features that have contributed to its award-winning status. One of the most notable is Daily Interest, which allows users to earn interest every single day, transforming savings into an immediate reward system. Another innovative feature, Snappy, represents a first in Africa by enabling users to capture account details through photographs rather than manual entry, significantly reducing errors and simplifying money transfers.
Security remains a central focus for Moremonee, with features like Trusted Partners and Lion Guard providing enhanced protection. Users can designate trusted contacts to lock their accounts during emergencies or temporarily freeze their own funds using biometric authentication. The platform also offers the Moremonee FutureBox, which enables users to earn up to 24% interest annually on fixed savings through three distinct plans: Future Landlord (3 months, 4% interest), Jethro (6 months, 10% interest), and Makarios (12 months, 24% interest).
Payment convenience is addressed through the Tap n Pay feature, which allows users to make withdrawals by simply tapping their debit card on POS terminals without insertion, speeding up transactions and improving user experience. These innovations have collectively positioned Moremonee as one of Nigeria's leading fintech companies and now as an award-winning innovator in the broader African financial technology landscape.
Dr. Mohammed Olatunji, PhD, Founder and Chairman of Moremonee, explained the company's philosophy: "Real innovation in the financial industry should help people grow, grow their wealth, grow their confidence, and grow beyond financial stress. We exist to simplify finance, not complicate it. Growth isn't just a metric for us; it's a mission – growth for our users, our team, and the communities we serve."
The AIDCA 2025 award represents a significant milestone for Moremonee and underscores the growing importance of fintech innovation in addressing the unique financial needs of Africa's youth population. The company's success demonstrates how tailored financial solutions can bridge the gap between traditional banking and the digital expectations of younger consumers, potentially setting new standards for financial inclusion and technological advancement across the continent.
Curated from 24-7 Press Release
