New Heights Microfinance Bank Limited (NHMFB Ltd) was incorporated as a limited liability company on the 17th May 2007. New Heights received approval to carry on the business of microfinance banking on the 26th July 2007 from the Central Bank of Nigeria (CBN). With only the Head Office Branch on commencement of banking operation on the 6th of August 2007, New Heights now has 10 customer meeting points spread across Lagos, with a customer base of over 20,000 - comprising of micro customers and small and medium scale customers.
New Heights Microfinance Bank Ltd
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In just over a year of operating, New Heights introduced its suite of microfinance solutions including loans, credit, savings, money transfer services, and micro insurance products to serve an eager under banked market. As Africa's most populous country and counted among the top ten most populous countries in the world; Nigeria has an estimated 79% of the adult population that are considered under banked. In order to address this huge market opportunity and meet the needs of a rapidly expanding customer base, New Heights required a scalable, SMS-based, mobile messaging solution to improve service delivery and ensure their customers gain immediate access to their suite of microfinance products anytime, anywhere.
Having the largest global range, reach and mobile messaging delivery experience in the financial services sector, Clickatell was the partner of choice to provide New Heights with enterprise-class mobile messaging solutions required to meet their growing needs now and in the future.
Many of New Heights' customers have a cell phone, but may not have the ability to find a physical branch, make a phone call, or log on to a PC. SMS alerts have given their customers the ability to keep a watchful eye over their finances anytime, anywhere. Customers now receive SMS messages when transactions occur, informing them on the spot of any account activity. When payments are due, customers receive alerts letting them know. And, if fraudulent activity occurs, customers can notify New Heights immediately, rather than waiting 30 days to receive their end of month statement. New Heights also sends monthly statements directly to mobile phones making it easy, convenient, and even possible for customers to stay in touch with their financial portfolio.