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Access Bank solution addresses payment issues

22 October 2013, 10:42

Lagos - Access Bank has introduced Primus, an internet banking solution aimed at addressing various payment challenges associated with account management.

The offering is currently available to corporate account holders.

Chief Executive Officer of the bank, Aigboje Aig-Imoukhuede, described the product as one of the key initiatives from the bank’s five-year medium term strategy.
Aig-Imoukhuede said the product was technology-dependent and corporate-focused.

He said the product which was expected to address challenges faced by chief financial officers (CFOs) covers areas such as payment management, receivable management, liquidity management, trade services optimisation, foreign exchange optimisation, cash flow forecasting, investment management, supply chain management as well as reporting and reconciliation.

“We are confident that the product will be first and will remain first and you will see that the choice of the name for this product denotes the fact that our product brings revolution to our customers. This product does not exist in the Nigerian banking industry today and will make every bank in Nigeria to rise to the occasion,” Aig-Imoukhuede said.

Some of the benefits of the Access Bank’s corporate internet banking solution include improved decision making and execution with enhanced visibility and control of cash position.

It supports faster, efficient and straight-through- processing and simplified transaction workflows.

The bank’s Group Deputy Managing Director, Herbert Wigwe, said large corporate and other categories of businesses involved in the complex dynamics of daily business operations would have superlative experience in managing their daily activities with the introduction of the product.

“The internet banking solution is not just a secure multi-transaction management platform that removes the complexities around daily financial management of multinationals and large corporations but also facilitates easy transaction with suppliers and distributors as well as employees in the value chain by simplifying the processes involved in executing payment, managing receivables and treasury services in the daily dealings of organisations,” he said.

– CAJ News


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