“Can a two-decade-old Nigerian microfinance bank digitize fast enough to compete with fintech neobanks for the SME and salary-earner segment?”
Founded in 2010 as CIT Microfinance Bank, a subsidiary of Capitalfield Investment Group Limited, and started operations in February 2011 to serve micro- and small-enterprise customers in Lagos. Rebranded as Moneyfield MFB and now positions itself as a digital-first microfinance bank offering mobile-app-based savings, fixed deposits, and loans (salary advance, LASG public-sector loans, asset finance, SME loans, overdrafts), alongside a Verve prepaid debit card. Remains a CBN-licensed, NDIC-insured microfinance bank rather than a fintech neobank — its embedded finance stack is limited to Nigerian domestic rails (NIBSS, Verve).
MONEYFIELD MICROFINANCE BANK discloses Moneyfield Microfinance Bank Limited (in-house) as its banking provider, according to the Embedded Finance Index 2026.
MONEYFIELD MICROFINANCE BANK does not disclose a bank charter of its own; its banking services are provided through Moneyfield Microfinance Bank Limited (in-house).
MONEYFIELD MICROFINANCE BANK's cards are issued through Moneyfield Microfinance Bank Limited (in-house) on the Verve network.
MONEYFIELD MICROFINANCE BANK's lending and capital products are provided by Moneyfield Microfinance Bank Limited (in-house).
MONEYFIELD MICROFINANCE BANK's investing and wealth products are powered by Moneyfield Microfinance Bank Limited (in-house).
The Embedded Finance Index 2026 maps 5 layers in MONEYFIELD MICROFINANCE BANK's stack: Banking / BaaS (Moneyfield Microfinance Bank Limited (in-house)); Card issuing (Moneyfield Microfinance Bank Limited (in-house)); Card network (Verve); Lending (Moneyfield Microfinance Bank Limited (in-house), Personal & Micro-Business Loans, SME & Commercial Loans, Salary Advance and 4 others); Investing (Moneyfield Microfinance Bank Limited (in-house)).
MONEYFIELD MICROFINANCE BANK is founded in 2010 and headquartered in Lagos, Nigeria.
Get a read on where your own stack stands against MONEYFIELD MICROFINANCE BANK and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.