What Is Cloud Computing:
This is a form of Internet-Based Computing Service that provides shared processing resources and data to computers outside its region or vicinity and other devices on request. It is a model for enabling ubiquitous, on-demand access to a shared pool of configurable computing resources (e.g., networks, servers, storage, applications and services), which can be rapidly provisioned and released with minimal management effort by users.
Outsourcing specific, non-core businesses and services is dominant in today’s businesses as customers have become terribly value sensitive and also the competitive landscape gets additional intense. The MTN XaaS – Microbanking package as a Service allows establishment to effectively scale back the price, hassles and problems with reference to managing applications / package and its attendant services.
- Lower Total price of possession (TCO) – victimization this service , a corporation can have a reduced total price of possession from the acquisition of licenses for applications and servers, payment of the annual maintenance fees, building knowledge centres and therefore the incidental to human resources needed to manage these IT resources.
- Improved Operational Profit Margins and Competitive artistry – the value savings generated can indirectly provide higher valuation margins to customers and additionally modify them vie favorably with one another and retail banks.
- Focus on your business – By outsourcing, corporations will specialise in their core business.
- Provides End to End Services – Besides provision of the banking application as a service, MTN will host, make a copy and supply connections to all or any branches and offices pro re nata. This primarily frees the organisation from the management of various service suppliers and Vendors.
- The MFIs will currently function pay shops for state and establishments – this will be achieved because of their high convenience and accessibility to their customers everyplace within the country.
Technical Benefits With the MTN XaaS – Microbanking Software as a Service.
• Solution performance & monitoring – Strict SLAs ensure that the performance of the application (relating to uptime, promptness) all to make sure that the applications meets or exceeds the expectations of your staff.
• Preventative Measures – This Include IT disaster recovery solutions off-site backup to ensure that the data on the server is always recoverable
The Product Offerings:
MTN XaaS – Microbanking Software as a tool
“This is a service platform that efficiently enables micro-finance banking operations and financial intermediary collaborations without the cost and complexity of ownership”
MTN XaaS – Micro Banking Software as a Service has the standard banking application features and will be optimised for additional security; some of these features will come as core modules and others as Value added services:
The Application Core Modules:
• Customer Services: The module is designed to enhance the level of customer satisfaction. It automates the process of the provision of service to customers as they interact with microfinance banks. Areas covered are Account Opening, offline statement rendition and customer enquiries.
• Credit Risk Management: A tool used in managing credit data for analysis, calculation of current and potential risk exposures, managing the entire lifecycle of a loan.
• Fixed Deposit: It automates the processing and management of taking deposits from customer.
• Cheque Book Management: It allows microfinance banks to manage different cheque books easily. From cheque request, allocation to accounts, delivery to customers and adequate income capture per cheque book.
• Cheque clearing: This application allows automation of clearing cheque Management according to prior setup by the users. The application takes care of withdrawal towards unclear effect, return cheque reversal, etc.
• Authorisation: Approvals at various authorisation levels can be effected through Microbanking Saas. The authorisation module makes use of the inbuilt workflow system, which enables intelligent routing of authorisation request to designated officer.
• Parameter Setup and Security: The user with the administrator role of the system can setup parameters through this module and control the extent to which data can be captured and processed on the system. One security/control feature of this system is that users can only see functions they are allocated in the system.
• Interests and Charges: This module automates the processing of interests and charges on transactions, including handling of accruals.
• Fixed Asset Depreciation: This module enables the bank automate the monthly depreciation of their fixed assets till the asset has been fully paid for.
• Reports: Management information system (MIS) reports can be generated based on business requirement. However, Microbanking Saas comes with standard banking application reports which can be used as is or modified to suite specific requirements of Microfinance bank. In addition, MTN XaaS- Microbanking Software as a Service has Digital Dash Board, by which top executives can monitor operational activities.
• Electronic Financial Analysis Surveillance System (EFASS): This module is a web-enabled, analytical and validation tool that enables MFIs to be compliant with CBN report rendition requirements. It is a Risk-Based Management Supervision Program which places emphasis on the risk confronting banks, and how they can be mitigated with direct collaboration with the CBN and other regulatory authorities.
Please Note: This product can easily be assessed by simply recharging and subscribe to the service. Kindly call MTN Call Center for more information.