Fortis Mobile Money adheres to the CBN regulation on wallet account creation and thus pass the agents through the highest KYC screening. Upon the provision of all the necessary documents which includes a recent passport photograph, gurrantor details, valid means of identification etc. Fortis Mobile Money vets the document and then create a wallet account for you which is sent as an SMS and an email.
Agric Digital Finance
Digital Finance For Rural and Agricultural Development (DiFRAD) Nigeria is a product of FMM designed to bring solution to the persistent finance challenges faced by small holder farmers for the purposes of digital financial inclusion. For a successful implementation of this project, Fortis Mobile Money team collaborated with different partners on how best to achieve a success.
For this project, Fortis Mobile Money acquired 6 hectares of land in Kaduna for the cultivation of rice. Details of 18 farmers was collected for account creation to enable them access credit on their mobile wallets.
More than a lifestyle
Cash Transfer Solutions
Fortis Mobile Money deploys this for governments, corporate organizations and Non-Governmental Organizations who have the need to transfer cash to selected beneficiaries as a part of social activity or a social safety net program.
Fortis Mobile Money can transfer this cash electronically to the beneficiaries using their e-wallets in areas where there is internet access or network availability.
For locations where there is low network or total absence, Fortis Mobile Money can deploy POS devices that can process transactions offline and synchronize later whenever it accesses network.
Alternatively, Fortis Mobile Money offers ‘Last Mile Cash’ disbursements for clients with special needs like urgent social intervention. Beneficiaries are given cash and processes are speedily done manually.This product leverages Fortis’ robust agent network to deliver this.
This service leverages on the extensive Agent network of Fortis Mobile Money Limited to roll out Microfinance services while specifically targeting the unbanked population. The Agents who fulfill the Full KYC requirements are leverage upon to perform the necessary KYC and Due Diligence for the obligors who may be in the rural areas and thus effectively out of the reach of regular banking services. This service has been used effectively in the provision of microfinance facilities to micro-credit customers. Disbursements of loans are done through mobile money Cash out service.