Moniepoint trims engineering, product teams, creates new roles
Moniepoint says it is trimming down its engineering and product teams as part of a restructuring aimed at improving operational efficiency and supporting its expansion into new markets. The fintech company, in a holding statement issued on Monday, said the changes would result in fewer roles in some areas, while creating new positions, including platform […] The post Moniepoint trims engineering,…
Moniepoint, a fintech company, is streamlining its engineering and product teams as part of a restructuring effort to enhance operational efficiency and support its expansion into new markets. The changes will see fewer roles in certain areas, but also the creation of new positions, such as platform architects. These architects will be responsible for designing and overseeing the technical systems supporting various business platforms.
Moniepoint reassures that this restructuring is not a layoff, but rather a part of a broader organizational redesign. Existing positions may become redundant under the new structure, but affected employees will be considered for available roles before redundancy consultations are initiated.
The company is transitioning to a platform-based structure, featuring smaller, focused teams handling specific product areas from development to operation. This model aims to provide teams with greater autonomy and clearer accountability, leading to faster product development, improved operational reliability, and consistent services for the company's expanding customer base.
Additionally, Moniepoint will introduce platform architects as part of its broader Product Operating Model and architectural governance framework. These architects will oversee the systems on which each platform group operates.
This restructuring follows Moniepoint's regular strategic review of operations and is a response to the need to adapt its technology organization to the scale and complexity of its growing financial services business. The company declined to disclose the number of employees impacted or the timeline for implementing the changes, maintaining that engineering and product development will remain central to its operations.
Moniepoint remains confident that the new structure will strengthen its services for customers, employees, and partners. The company is currently scaling its operations in Nigeria while expanding into other African markets, with loan disbursements primarily targeting small and medium-sized enterprises, including provision stores, supermarkets, and building materials traders.
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