" ITREALMS: 125 microfinance banks to deploy Remita

Wednesday, March 31, 2010

125 microfinance banks to deploy Remita

A total of 125 registered Micro-Finance Banks in the country are on their way to deploying Remita, an electronic payment (e-Payment) solution from Systemspecs Nigeria Limited.

This follows the deal consummated on Monday between Systemspecs Limited and Maxim-Pro in Lagos to integrate Remita with MaxiSoft banking application.

Managing Director, SystemSpecs, Mr. John Obaro, said that the deal involves the seamless integration of Remita with MaxiSoft banking application and the training of key personnel of the microfinance banks that use MaxiSoft application.

According to him, this would eventually result to spread and infusing of e-payment to rural areas in the country where most of these Microfinance banks have outlets.

“Our decision to collaborate with Maxim-Pro is to further deepen the application of True e-Payment in Nigeria payment system and to ensure that the federal government and CBN directives on payment is strengthen and sustained for greater success,” he said.

Obaro also said that while any microfinance bank would still be able to receive funds via Remita platform, microfinance banks using Maxim-Pro have the distinct advantage of a through-straight-through process between Remita and MaxiSoft.

Equally speaking, his counterpart at Maxim-Pro, Mr. Yinka Oyewumi, said his firm is confident that the right decision has been made with the partner, in addition to the choice of the right e-Payment application that would make payment a delight and transform banking in microfinance bank institutions.

He explained that Maxim-Pro is an indigenous software company whose product, MaxiSoft is used by over 125 microfinance banks nationwide.

As said by him, Maxim-Pro decision was based on the need to ensure that users of their application are properly positioned and connected to the most widely used e-Payment platform by commercial banks in Nigeria and to synch the microfinance banks payment transactions with that of mainstream banking institutions.

Also, workers whose salaries and suppliers whose accounts are domiciled in the microfinance banks can now be paid directly.

Besides, Oyewumi noted that through this collaboration the microfinance banks will become compliant to Central of Bank of Nigeria (CBN) directives and they would continuously benefit from the world class technology provided by SystemSpecs.

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