Firms to Promote Digital Banking

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The CWG Plc has strengthened its partnership with Vericash, provider of a software platform, to drive an ecosystem of collaborative mobile financial services to boost Nigeria’s financial inclusion quest.

Speaking at a workshop organised by both companies for banks in Nigeria, CWG’s Business Development Manager, Tereigh Ozakpo, explained that the Vericash mobile banking solution, which has been in the Nigerian market in the last six years, is an omni channel plus digital solution, which allows banks to operate all their digital channels on one platform.

He said unlike other platforms, where the banks have to start development from the scratch, which usually takes several weeks, the Vericash mobile banking platform is agile as the integration layout which is already developed, allowing a customer to just customise.

“One of the biggest advantages of having Vericash mobile banking platform as your digital banking partner is that it has the ability to aggregate all your digital channels together. It is a platform that helps a bank to drive and synchronise all of its digital services in a single platform, thereby increasing the level of control and ensuring conflict resolution is faster,” he said.

Tereigh added that the Vericash mobile banking platform was designed in such a way that there can be synergy between two banks signing on the platform. He disclosed that this happens because Vericash has the Vericash network, which is very robust and allows various customers on the platform to collaborate seamlessly and faster as it allows them to access a large customer base beyond their ecosystem.

Senior Product Manager at Vericash, Mohammad Jafar, said the Vericash mobile banking solution remained one unified platform for all banking products as it manages and enriches all digital channels, empowers customer acquisition at low cost, brings Value Added Service (VAS/ Lifestyle) services to digital banking, customise and control service offering, promotes SME Banking and monitors performance.

While making a presentation to various banks in the weeklong workshop, Jafar noted that Nigeria is considered Africa’s biggest market and one of the emerging markets in the world with many first-class banks operating in the country. Thus, Vericash thought it wise to bring its digital banking solution to help them address the challenges in the digital banking ecosystem.

Asked why Nigerians should patronize the Vericash mobile banking platform over and above other solutions in its class, Jafar explained that the Vericash platform would establish an ecosystem of the future as it orchestrates a sufficient marketplace for its clients, third-party service providers and customers for leveraging and consuming different mobile financial services seamlessly.

“The Vericash mobile banking platform helps build a local and international open-loop collaborative ecosystem and build a network effect that increases our customer profit margin exponentially,” he assured.