Financial technology company Moniepoint is restructuring its Engineering and Product departments to improve efficiency and support its next phase of growth.
The company plans to organise these functions into platform groups. Each group will contain small, focused product teams responsible for developing and managing their products from start to finish.
Moniepoint said the new model would give teams more independence and clearer responsibilities. It also expects the changes to speed up product development, improve system reliability and support expansion into new markets.
Moniepoint Restructuring Will Affect Some Jobs
The restructuring will create some new positions while making certain existing roles redundant.
Moniepoint plans to introduce platform architects to design and oversee the systems built by each platform group. These specialists will work within the company’s broader Product Operating Model and architectural governance framework.
The company said these frameworks guide product solutions, platform capabilities and the technical foundations of its operations.
Management said it would consider employees whose roles become redundant for other vacant positions across the business. The company will begin redundancy consultations only where it cannot identify suitable openings for affected workers.
Moniepoint Targets Better Services and Expansion
Moniepoint provides payments, banking, credit and business management services to individuals and businesses. Its tools help merchants accept payments, manage cash flow and grow their operations.
The company also provides everyday banking services to individuals. It has a strong presence in Nigeria’s informal economy, with an agent network covering all 774 local government areas.
Moniepoint is also expanding its operations in Kenya. Across its subsidiaries, the company processes more than $400 billion in annual digital payment transaction value, according to the report.
Company Reaffirms Commitment to Engineering and Product
Despite the restructuring, Moniepoint said Engineering and Product remain central to its business.
Management thanked employees for their contributions and expressed confidence that the new structure would strengthen the company’s services for customers, employees and partners.
The changes form part of a wider effort to align the company’s teams, technology and operations with its growing business needs.