Wednesday, July 09, 2008

Progenics to launch 3 new Symbol solutions

RENOWNED Information and Communications Technology (ICT) solutions provider, Progenics Corp Limited, is set to hit the sub-sectors of the economy with the introduction of its three new products, namely the Symbols Microfinance, Symbols Investment and Symbols Financial, reports CHARLES OKOH.

These solutions scheduled for launch in Lagos on Thursday, next week, according to the Managing Director, Progenics Corp Limited, Mr. Tony Udoh, are all of the popular generic Symbols software brand and is targeted at the over 700 microfinance banks across the nation.

Mr. Udoh also said the increase in technological awareness, and the need for enhanced customer service delivery as well as the recent licensing of over 700 microfinance banks necessitated the launch.

He pointed out that the era when anything local is seen as inferior is long gone and that the essence is to bring about an understanding in the market place so that wherever Symbols is mentioned, it will be associated with Progenics.

Udoh further said the Symbols brands are being re-branded to cater for the need of the three different financial sub-sectors on offer, namely Symbols Microfinance, Symbols Investment and Symbols Financial.

Symbols, he said, is preferred as the generic name for all products relating to the banking and financial services sectors from his firm, adding that the core modules of the three variants of the applications are similarly constituted except for the module that is peculiar to the particular sub-sector it serves.

He explained, for instance, that Symbols Microfinance is a systems administration, customer information system, general ledger, customer accounting, teller operations/front office, credit management/loans, investment management and treasury, internet based customer service delivery and fixed asset management solution, among others.

On the success of Symbols brand in the capital market, Udoh said it has served as consultants to the stock exchange for over 10 years and interacting with stockbrokers and asset managers. Hence, Progenics understands the operating dynamics of the capital market and would continue to leverage on this to bear in the development of Symbols Microfinnce.

He also said the optional modules of Symbols are applicable to the three variants and could be combined in image management, credit management/loans, investment management/treasury, internet based customer service delivery, fixed asset management and asset management.

Mr. Udoh added that the product has been scaled down to meet the peculiar challenges of the micro-finance banks and that both big and small players could benefit from the package as the software is easy to use and run.

“Designed on Oracle data base 10G, the software is fully secured against hackers and fraudsters and has security details attached to hit,” he said, adding that it has secured portals that make safe the identity of user and does not allow proxies.

On the choice of Microfinance banks, he said, small and medium scale enterprises should not be shut out from technology and that as long as people use the banks, they should be carried along and their needs provided for by technology.

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