MTN XaaS: Microbanking Software as a Service

MTN XaaS:
Microbanking
Software as a
Service

Background

Outsourcing specific, non-core businesses
and services is paramount in today’s
businesses as customers are becoming
very price sensitive and the competitive
landscape gets more intense. The MTN
XaaS – Microbanking Software as a Service
enables institution to effectively reduce
the cost, hassles and issues relating to
managing applications / software and its
accompanying services.
Business Benefits: With MTN XaaS,
microfinance banks are assured of:
Lower Total Cost of Ownership (TCO) -
Using this service , an organization will
have a reduced total cost of ownership
from the purchase of licenses for
applications and servers, payment of the
annual maintenance fees, building data
centres and the accompanying human
resources required to manage these IT
resources .
Improved Operational Profit Margins
and Competitive Prowess - The cost
savings generated will indirectly offer
better pricing margins to customers and
also enable them compete favourably
with each other and retail banks.
Focus on your business – By
outsourcing, companies can focus on their
core business
One stop, end to end Service Provider
– Besides provision of the banking
application as a service, MTN will also
host, back up and provide connections to
all branches and offices as required. This
essentially frees the organisation from
the management of different service
providers and Vendors.
The MFIs can now serve as pay outlets
for government and institutions; - This
can be achieved due to their high
availability and accessibility to their
customers everywhere in the country.
With the MTN XaaS – Microbanking
Software as a Service, you get the
following technical benefits:
Application 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 - Include IT
disaster recovery solutions off-site backup
to ensure that the data on the server is
always recoverable
Product Offerings
MTN XaaS – Microbanking Software as a
Service
“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:
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.
Value Added Services
In additional to the standard modules
listed above, MFI’s may want to take
advantage of other modules that can be
bundled with Microbanking Saas, these
are:
Short Messaging Service (SMS) : SMS
Alert solution would integrate with the
GSM SMS network available in the
country. At low cost, solution would
enable MFIs send SMS to alert customers
of the transactions on their accounts.
Monthly statement alert is also available
on MTN Microbanking Saas.
Integration of MFI card services into
the e-Payment infrastructure: This
module enables MFIs to issue their cards
which can be used on existing ATMs and
other e-infrastructure either through the
corresponding bank or as direct interface
to the e-payment infrastructure. These
cards can also be used to consummate
purchases on Point of Sale (PoS)
terminals.
Extended Branch Banking Service: This
is a novel industry class action which
helps the MFI achieve a unique form of
branchless banking. This allows the MFIs
use the branches of their correspondent
banks as their branches and get a real
time effect on their customers’ balances.
Mobile Tellering : This Application
integrates with POS Terminals, this equips
MFIs for real time deposit mobilization on
the field. Receipts are issued to customer
and banking host is updated with new
customer balance real time. Mobility
applications can also be integrated into
this banking application which makes
deposit and withdrawal entries by the
field officers real time.
Agency Banking/Mobile Money: MFIs
that serve as Mobile money agencies can
now integrate their mobile money
application with their banking application;
this allows their customers make transfer
from the bank account to their e-wallet
and vice versa.
Mobile Money wallet: Customers of
MFIs can get an automatic creation of a
Mobile wallet when their MFI accounts
are opened, which can be used to
purchase e-money.