" ITREALMS: UBA acquires, deploys CLIREC in 17 countries

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Thursday, August 06, 2015

UBA acquires, deploys CLIREC in 17 countries

The United Bank for Africa (UBA) has acquired and deployed a-state-of-the-art accounts reconciliation software, CLIREC, across all branches in Nigeria and global operations in 17 countries, reports ITRealms.

Confirming this, the Deputy Managing Director (DMD) of Precise Financial Systems (PFS), Philip Ayeni, in a press statement made available to ITRealms, said that CLIREC gives UBA control of its internal systems, particularly as “it concerns the reconciliation of Electronic Funds Transfer [EFT] transactions.”

CLIREC, he told ITRealms, brings to UBA a culture of timely, accurate and reliable accounts reconciliation system. 

He also explained that the application will run in the bank’s operations in Nigeria, Ghana, Burkina Faso, Guinea, Liberia, Benin and Cameroon. Other countries are Kenya, Senegal, Uganda, Congo, Zambia, Tanzania, Gabon, Chad, Congo DR and Mozambique. 

According to Ayeni, the application, provides UBA a completely stress-free method of staying in control of all reconcilable accounts across the organization while optimizing its human resources.

“The software integrates all classes of reconciliation efforts in the bank: primary departments and regions managing the accounts, control and audit reports requirement, users access to the system irrespective of location or responsibility and direct interface of the platform with the bank’s core banking application for data integrity and accuracy,” he said.

He pointed out that the company’s solution would be the foundation of accurate accounts reconciliation in the banking sector, adding that its wealth of experience in the financial industry backed by strong local service “is an asset to organizations in Nigeria and Africa.”

 +ITRealms DSA +Remmy Nweke (ITRealms) +United Bank for Africa 
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