INTMAX, a blockchain solutions provider, has partnered with two Microfinance Banks (MFB’s) in Nigeria, Above Only Microfinance Bank and Source MFB to deepen financial inclusion and streamline operations.
According to the partners, this aims to train staff with cutting-edge blockchain solutions and initiatives to foster financial inclusion and operational efficiency.
Philip Asaya, senior coordinator and country representative for INTMAX said with Blockchain solutions, access to financial services can be democratized and easily accessible, which the partnership aim to achieve
“Blockchain has the power to democratize access to financial services,
“Our partnership with these Microfinance Banks reflects a commitment to driving financial inclusion and empowering institutions with the tools to thrive in the digital age,” Asaya said.
According to him, the partnership is set to redefine the role of Microfinance Banks (MFBs) in the digital economy by introducing advanced technologies that streamline processes, improve transparency, and enhance consumer trust.
With a focus on innovation, the blockchain company stated that it remains committed to empowering Nigerian financial institutions to become trailblazers in leveraging innovative technologies for financial services.
“Blockchain technology offers immense potential for transforming traditional banking processes. By integrating this technology, financial institutions will gain tools to simplify loan disbursement, enhance customer onboarding, and optimize asset management. These solutions will not only improve efficiency but also reduce operational costs, positioning the banks as leaders in digital financial services,” he added.
Read also: Nigerian blockchain adoption fuels job creation, financial inclusion – MehticPay
Simeon Ogunnubi, CEO Pengage Finance stated that the partnership aligns with INTMAX’s broader vision of accelerating blockchain adoption and building a tokenized economy in Nigeria.
“By collaborating with these forward-thinking MFBs, INTMAX will introduce innovative financial products tailored to meet the needs of underserved communities. These include blockchain-based lending models, smart contract-enabled savings plans, and digital asset management systems that provide new economic opportunities for individuals and businesses alike,”Ogunnubi said.
With the partnership, INTMAX will provide tailored training programs for the Microfinance bank staff, equipping them with the skills to leverage blockchain effectively. These programs aim to foster a culture of innovation within these banks, enabling them to deliver cutting-edge services to their customers.
Above Only Microfinance Bank and Source MFB stated that the collaboration with INTMAX is more than a technological upgrade but also a step towards redefining their roles in an increasingly digital world.
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