MTN Software as a Service for Micro – Finance Institutions

Micro- Banking Application Software as a Service (SaaS)

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 enables institution to effectively reduce the cost, hassles and issues relating to managing applications / software and its accompanying services.

Benefits: With MTN XaaS, customers 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.

With the MTN XaaS , 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 – includeIT disaster recovery solutions off-site backup to ensure that the data on the server is always recoverable

 Product Offerings

MTN XaaS – Micro- Banking Software as a Service (SaaS)

“A service platform that efficiently enables micro-finance banking operations and inter-bank collaboration without the cost and complexity of ownership”

Micro Banking Software as a Service (Microbanking SaaS) 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 optional:

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.
  • Deposit/Placement management: It automates the processing and management of taking deposits from customers and investing funds with other institutions.
  • Cheque Book Management: It allows microfinance banks to manage different cheque books easily. Form cheque request, MICR handling, and allocation to accounts and delivery to customers.
  • Authorisation: Approvals at various authorisation levels can be effected on through the Microbanking SaaS. The authorisation module makes use of the inbuilt workflow system, which enables intelligent routing of authorisation request to designated officer.
  • Interests and Charges: This module automates the processing of interests and charges on transactions, including handling of accruals.
  • 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.
  • 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 has Digital Dash Board, by which top executives can monitor operational activities.

Optional Module

In additional to the standard modules listed above, MFB’s may want to take advantage of other modules that can be bundled with Microbanking SaaS, these are:

  • Short Messaging Service (SMS)/e-Mail Alert: SMS Alert solution would integrate with the GSM SMS network available in the country. At low cost, solution would enable MFBs send/receive SMS to alerts customers of transactions in their accounts.
  • Integration of MFB card services into the e-Payment infrastructure: This module enables MFBs to issue their cards and able to use existing ATMs and other e-infrastructure either through the corresponding bank or as direct interface to the e-payment infrastructure.
  • Electronic Financial Analysis Surveillance System (EFASS): This module is a web-enabled, analytical and validation tool that enables MFBs to be compliant with CBN/NDIC 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.

The following are other products we have added:

  • NUBAN plus: This is an innovation on the platform. The product enables customers of MFBs to receive payments from Federal Government, State Government and Local Government agencies such as salaries and contract payment. Valid NUBAN numbers are mapped to customer accounts through a middleware application to effect payment.
  • PayOutlet: This is a multi merchant payment processing platform that allows MFBs to become payment outlets for fees and utility bill payments by customers of merchants. We are partnering with eTransact for this service.
  • Extended Branch Banking Service: This is a novel industry class action which helps the MFB achieve a unique form of branchless banking.
  • Debit Card Issuance Services: Debit cards, commonly referred to as ATM card can be used to withdraw funds from ATMs nationwide. They can also be used to consummate purchases on Point of Sale (PoS) terminals.
  • Mobile Collections with POS: This equips MFB’s with Point of Sale terminals for real time deposit mobilization on the field. Receipts are issued to customer and banking host is updated with new customer balance real time.
  • Mobile Money: This is one- to-many payment applications which is used to process bulk payments. The most popular use is for salary processing. Funds can move from source account in the MFB to multiple accounts scattered across various commercial banks and any MFB on the platform. MFBs can also receive funds from other banks. This has been achieved by integrating with eTranzact.
  • Mobile Banking : Customers of MFBs can do transactions from the comfort of their mobile phones.  These services include Airtime top up, interbank transfers, Utility bill payments e.t.c.
  • Agency Banking: MFB can earn money from being agents for mobile money operators and commercial banks.

All computing, network, security and software services shall be hosted in the MTNN Virtual Data Centre. Customer access to the services will be via web or Internet access



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