NET Microfinance Bank (NET MFB) continues to redefine the landscape of financial inclusion in Nigeria through its cutting-edge digital solutions, with a particular focus on its innovative virtual banking services. The bank, well-known for its customer-centric approach, is positioning itself at the forefront of the financial sector’s digital revolution, catering to a diverse range of customers including individuals, small businesses, and underserved communities.
Empowering Customers through Digital Banking
As part of its vision to create a seamless and accessible banking experience, NET MFB has embraced digital innovation by launching a suite of virtual banking services. This move is aimed at offering customers a convenient, secure, and user-friendly platform for managing their financial needs without the need for physical branches. The virtual banking services include digital accounts, mobile and internet banking, virtual cards, and loan services—all accessible via a mobile app or online platform.
Speaking on the bank’s strategic shift towards digitalization, NET MFB’s Head of Digital Services emphasized that the goal is to provide financial solutions that meet the needs of today’s tech-savvy customers. “We recognize the growing demand for more efficient, digital-first banking services, especially among Nigeria’s youthful population and small business owners. Our virtual banking services are designed to provide these customers with easy access to funds, seamless payments, and hassle-free financial management anytime, anywhere.”
Enhancing Financial Inclusion
In line with the Central Bank of Nigeria’s mandate to improve financial inclusion, NET MFB’s virtual banking services cater to the unbanked and underbanked population by offering simple onboarding processes. Prospective customers can open a fully functional bank account in minutes, with minimal documentation, directly from their mobile phones. This has dramatically reduced the barriers to entry for those in remote or underserved areas, empowering more Nigerians to participate in the formal financial system.
The bank has also partnered with fintech companies to expand its digital reach, integrating innovative payment solutions and micro-lending services into its virtual banking ecosystem. Customers can now access microloans without collateral, instantly receive funds, and repay in flexible instalments — all through the NET MFB digital banking infrastructure.
Security and Customer Support
Despite its focus on digital innovation, NET MFB has made security a top priority. The bank employs advanced encryption protocols, multi-factor authentication, and continuous monitoring to protect its customers’ data and transactions. With cyber threats on the rise, NET MFB has invested heavily in maintaining a secure digital environment, ensuring customers can confidently perform transactions.
Moreover, the bank offers round-the-clock customer support to address any issues that may arise with virtual banking services. Whether through chatbots or live agents, customers can access assistance with ease, ensuring a smooth banking experience.
The Future of Virtual Banking at NET MFB
NET MFB’s virtual banking services are just the beginning of its journey toward full digital transformation. Looking ahead, the bank plans to introduce more advanced features, such as AI-powered financial advisory tools, enhanced digital lending products, and deeper integration with Nigeria’s mobile money networks. These initiatives aim to provide a more personalized, data-driven banking experience that adapts to the unique needs of each customer.
With the NET USSD *723*534# customers can perform practically all banking services such as Balance Enquiry, Funds Transfer, Bills Payments and lots more without internet connectivity.
As digital banking continues to evolve, NET MFB is set to lead the way in Nigeria’s microfinance industry, leveraging technology to drive financial inclusion and empower individuals and businesses to achieve their financial goals.
With its bold approach to virtual banking, NET MFB is not only changing the way people bank but also ensuring that everyone, regardless of location or income level, has access to the financial services they need to thrive.
