Moniepoint engineers have called for stronger fintech infrastructure and systems capable of protecting customers from payment failures.
The engineers made the call at the inaugural Moniepoint “Off the Record Engineering Mixer” held in Lagos on Tuesday.
The forum brought together senior practitioners to examine challenges associated with operating financial technology systems at scale.
Mr Ayomide Kolawole, Engineering Manager, Card Payments, Moniepoint, said customers should not bear consequences of failures beyond their control.
“Building reliable payment infrastructure is about understanding every point at which a transaction can fail and designing the right response when things go wrong,” Kolawole said.
He said fintech reliability should extend beyond processing transactions quickly to ensuring system failures did not become additional burdens for customers.
Kolawole said Moniepoint’s card payments infrastructure processes more than 20 million transactions daily across its systems.
He said the systems were designed to quickly detect failures and manage transactions whose outcomes remained uncertain.
According to him, the infrastructure continuously monitors issuing banks across payment processors, including transaction success rates and response times.
He said when a payment destination performed below a predetermined threshold, the system automatically stopped routing transactions there.
Kolawole said the approach helped reduce transaction delays and failures while improving the overall reliability of payment services.
The engineers also examined trade-offs involved in designing large-scale fintech systems, including distributed processing and service separation.
They highlighted effective monitoring and security as essential tools for detecting system problems early, managing risks and strengthening infrastructure resilience.
Moniepoint said the engineering mixer was created as an open platform for practitioners to share experiences on system failures and technical decisions.
The company said practitioners also discussed architectural choices behind financial systems serving millions of customers.
It said challenges associated with building fintech systems at scale were shared across the industry and could be better addressed through collaboration.
Moniepoint said reliable fintech infrastructure should be measured by both system performance and responses when things go wrong.
The company said systems should effectively shield customers from consequences arising from failures within underlying payment infrastructure.
The forum attracted engineers from companies including Flutterwave, Cowrywise and Nomba, with discussions covering distributed systems, failures, network dependencies, security and monitoring. (NAN)
