Moniepoint, a Nigerian fintech company, has been actively recruiting top talent from leading banks like Access Bank and Stanbic IBTC as part of its expansion strategy. The recent hires cover various crucial roles such as compliance, risk management, sales, and product development.
Some notable individuals who have joined Moniepoint include a former Chief Information Security and Data Protection Officer from Access Bank’s digital lending subsidiary and a former Stanbic IBTC executive who is now serving as the company’s CFO. This influx of talent from established banks to Moniepoint reflects a broader trend in the financial sector, where fintech firms are attracting experienced professionals to enhance their operations.
The company’s hiring strategy focuses on expertise and talent, regardless of the industry background of the candidates. This approach aligns with Moniepoint’s goal of bringing in the best minds to drive innovation and growth within the organization.
In response to inquiries, both Access Bank and Stanbic IBTC declined to provide comments on the matter.
Moniepoint’s recent recruitment efforts highlight its commitment to securing top-tier talent from the banking sector to strengthen its position in the financial services industry. As the company explores new opportunities, such as obtaining a commercial banking license and expanding into new financial services, having a skilled team with regulatory knowledge is crucial for success.
The increasing competition for talent between traditional banks and fintech companies has led to salary adjustments and increased benefits for employees in the financial sector. Fintech firms, including Moniepoint, are offering competitive compensation packages to attract and retain top professionals, posing a challenge for banks to retain their workforce.
Overall, Moniepoint’s strategic hiring spree underscores the shifting dynamics in Nigeria’s financial landscape, where fintech companies are reshaping the industry by leveraging the expertise of experienced banking professionals to drive innovation and growth.