SunTrust Bank Nigeria has launched a new mobile platform called YESMONEY, aimed at helping millions of unbanked and underbanked Nigerians gain access to safe and affordable financial services.
The product was unveiled recently in Lagos, with regulators, technology partners, and digital finance advocates in attendance.
Recent data from the Central Bank of Nigeria and its partners, indicates that around 28 to 38 million adults still live without access to formal banking.
YESMONEY seeks to close that gap by turning mobile phones into simple, secure banking tools.
“YESMONEY was built for everyday Nigerians; the trader, the artisan, the student, and the small business owner,” said Afolasade Alonge, Regional Business Executive at SunTrust Bank.
“It offers them the power to save, transact, and access credit safely from their mobile phones,” she added.
Speaking further at the launch, Alonge said the platform is designed to be fast, secure, and always available. “We are boasting of zero downtime, strong encryption, and very affordable charges,” she said. “This is a step toward closing Nigeria’s financial inclusion gap.”
YESMONEY also supports a digital marketplace, where users can buy and sell securely, and connects with agents nationwide, enabling those in remote areas to access financial services without visiting a bank branch.
Also at the event, Sunday Olaniyan, SunTrust’s Head of E-Business, described YESMONEY as “a one-stop solution that brings finance closer to every Nigerian.”
“Everything is digital from onboarding to transactions,” he said. “It is secure, simple, and built to help individuals and small businesses grow.”
Alberto Olympio, a technical partner for the platform, said YESMONEY’s technology allows transactions from feature phones to smartwatches, making it truly inclusive.
“Our design goals were simple;secure, instant, and compliant. Every transaction is encrypted and verified in real time,” he said.
With Nigeria’s mobile phone penetration surpassing 80 percent, YESMONEY could help millions save safely, access credit, and trade digitally, without fear of fraud or high charges. “This means financial freedom, trust, and convenience, all in one platform for users,” Olaniyan said
