" ITREALMS: MFI’s get MTN Business Financial Support

Monday, April 13, 2015

MFI’s get MTN Business Financial Support

The business-to-business unit of MTN Nigeria has urged Nigeria’s microfinance banks to embrace cost-effective and operationally efficient solutions in the management of their business, as they co-join to better the country’s unbanked and financially underserved population, ITRealms reports.

ITRealms gathered that in a recently held forum in Lagos by MTN Nigeria, with the theme: MTN XaaS – Helping MFIs Drive Financial Inclusion. Mr. Tsola Barrow, Acting Chief Enterprise Solutions Officer, MTN Nigeria, who was represented by Mr. Olutayo Egunjobi, Senior Manager, Enterprise Marketing, said that technology has become a key differentiator and enabler for businesses, as a result of this, a Micro-Banking Software-as-a-Service solution was introduced to take the operations of MFIs to another level.

“MTN Business is committed to delivering value and driving business growth in Nigeria through tailor-made, productivity-enhancing solutions. We also recognise that microfinance banks provide a huge funding platform for SMEs. Thus, enhancing the service delivery of these banks makes access to funds easier for SMEs, ultimately impacting positively on the economy,” he said.

In a show of appreciation, ITRealms learnt that the Managing Director of MBA Microfinance Bank Limited, Mr Bode Ajayi complemented the initiative, noting that the solution provided remote access and authorization to carry out transactions from anywhere via a secure private or public connection.

It is learnt, as ITRealms gathered that with the MTN XaaS, MFIs in Nigeria would avoid tying down huge capital in expensive ICT infrastructure since the service is offered on a subscription model and in addition, provide standard banking applications in the form of Core Modules and Value Added Services.

Daniel Nsolibe/GEE

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