With focus on mobile money stakes, Computer Warehouse Group Plc (CWG) says its newly-introduced mobile financial services will offer better user experience for customers of financial institutions across Nigeria.
The new platform, a collaborative effort between CWG and CIT Vericash, provides banks and telecoms companies (telcos) across Africa with a platform to deliver improved mobile financial services to both banked and unbanked population.
Mr. James Agada, CEO of CWG Plc explains that the CWG Vericash Hub is designed to enable financial institutions offer quality services to their customers at a reduced cost.
According to Agada, “any bank, telco or mobile money operator can take advantage of the CWG Vericash Hub to launch advanced mobile financial services without making extensive investment in hardware or software.”
He says that “the hub supports various deployment models such as white labeling, co-branding and even onsite deployment. As we speak, it powers the U-mobile, a trail blazing mobile banking product recently launched by the United Bank for Africa.”
CWG says that the platform “supports wallet services, agency services, and integration with payment cards, bill payment, shopping services via mobile channels App, SMS and USSD. It also features a sophisticated transaction processing engine that is able to orchestrate transaction flow between multiple service providers, a feature that will enable banks to offer a large number of non-traditional services from insurance to ticketing.”
CWG Vericash Hub which is resident in the company’s Data Centre in Lagos “also benefits by being connected to the Vericash Network bringing additional cross border services in remittances and bill payment”, the Nigerian technology company says.
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