By Emeka Aginam
In creating a cashless and more efficient e-payment systemÂ for the Nigerian economy, SystemSpecs in collaboration with Maxim-Pro have signed a memorandum of understanding (MoU) to integrate Remita e-PaymentÂ platform and MaxiSoft banking applications to over 125 micro-finance banks across the nation.
The newÂ agreement entails the seamless integration of Remita with MaxiSoft banking application and the training of key personnel of the microfinance banks that use MaxiSoft application.
The new development willÂ result in theÂ spread and permeating of e-payment to rural areas in the country. With this arrangement, MFBs areÂ expected transact seamlessÂ businesses online without necessarily passingÂ through commercial banks for clearance. In addition to this, MFBs can as well remit money locally without going through the clearing house, thereby reducing cost.
Speaking during a press conference last Monday in Lagos to announce partnership agreement, the Managing Director of SystemSpecs, John Obaro said that the application will deliver e-payment system for a wider market.
â€œIt is a platform under the institute of Software Practitioners of Nigeria, (ISPON). With this arrangement, salary earners can now enjoy salary direct. 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.
â€œWhile any microfinance bank will 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.â€
SystemSpecs is one of the leading providers of financial and human capital software solutions in Nigeria.
Similarly, Yinka Oyewumi, Managing Director of Maxim-Pro who believe that the system will eliminateÂ bottleneck in banking transaction noted that over 500 percent cost would cut down using the system.
â€œWe are confident that we have made the right decision and chosen the right e-Payment application that will make payment a delight and transform banking in microfinance banks.
â€œMaxim-Pro is an indigenous software company whose product, MaxiSoft is used by over 125 microfinance banks in Nigeria. 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.
â€œWorkers whose salaries and suppliers whose accounts are domiciled in the microfinance banks can now be paid directly.
â€œFurthermore, through this collaboration the microfinance banks will become CBN-compliant and they will continuously benefit from the world class technology provided by SystemSpecs,â€ he said.
Remita is an e-Payment platform that enables you to pay workers salaries, vendors/suppliers, pension remittance to PFAs/PFCs, taxes to FIRS & BIRS, HMOs, NHF with associated schedules to relevant bodies on a secured platform. It also notifies recipients through SMS as soon as payment is made.
SystemSpec isÂ providers of financial and human capital SystemSpecs while Maxim-Pro is theÂ providers of application software