Google Cloud has announced its partnership with Africa-focused business banking platform Moniepoint to make financial services more accessible to SMEs. Following this collaboration, Moniepoint will focus on providing customers with products and solutions that will improve their overall digitalisation processes, as well as offering them the needed gear and technology.

By partnering with Google Cloud, Moniepoint will be able to leverage its scalable cloud infrastructure and its low-latency internet access. This offers the possibility to deliver efficient banking services for its clients without encountering any lags on the platform. Furthermore, the deal will enable Moniepoint to make its offerings accessible to Nigeria’s remote towns and communities, where the access to internet connectivity represents challenges to firms and businesses that operate outside the area’s commercial hubs (where usually mainstream banking is more accessible).

More information on the partnership Moniepoint offers a hybrid cloud strategy which is part of its payments application on Cloud Spanner. This relies on Google Cloud’s scalable infrastructure. The application has the capability of keeping a record of all the financial transactions and requests that are proceeded by Moniepoint, as well as handling a large volume of transactions.

According to the press release, Moniepoint was able to grow its customer base after the partnership went live, taking it from 300,000 small and medium-sized businesses in 2022 to approximately 1,3 million SMEs today. Those clients are relying on Moniepoint’s payments application in order to process financial transactions and accept payments for their services. Moniepoint will also be able to use the Google Kubernetes Engine for scaling the volume of transactional requests that are usually processed, including payment transactions and accounting ledgers.

Moniepoint will therefore allow businesses and enterprises to turn around customer requests in a very seamless and secure way.  Google Cloud’s recent partnerships In May 2023, Bud Financial announced that it was available in the Google Cloud partner directory. Its presence was set to allow businesses to collaborate with the data-intelligence fintech as part of its annual spending, which enabled the company to use the benefits of a single Google Cloud commitment. It also gave the permission of current and prospective customers to begin engagement with cash flow and AI-powered financial services because they did not require further budget approvals.

Earlier in the same month, Google Cloud partnered with Spain-based institution CaixaBank in order to accelerate the bank’s transition to the cloud, as well as to drive innovation and development while using data and analytics technologies. The bank was set to use Google Cloud’s cloud computing, artificial intelligence (AI) capabilities, as well as data analytics for building new products for its customers and accelerating the organisation’s digital transformation as part of the deal. .