Software companies assist microfinance banks in Nigeria

Nigerian software providers SystemSpecs and Maxim-Pro have signed an agreement to offer assistance to over 125 microfinance banks (MFBs) in Nigeria, in a bid to boost their e-transactions capacities.

“It is another testimony of what collaboration between indigenous firms can achieve if they look for common ground to work together. The Institute of Software Practitioners of Nigeria (ISPON) has consistently advocated for this type of collaboration among indigenous software developers in Nigeria”, said John Obaro, Managing Director SystemSpec.

According to Obaro, the agreement opens up new possibilities for e-payment services to various players in the banking sector and especially to MFBs.

Yinka Oyewumi, Managing Director Maxim-Pro, added “Through this collaboration, the MFBs will become CBN (Central Bank of Nigeria) compliant and will continuously benefit from the technology provided by SystemSpecs”.