The United Bank for Africa (UBA) has
acquired and deployed a-state-of-the-art accounts reconciliation software,
CLIREC, across all branches in Nigeria and global operations in 17 countries,
reports ITRealms.
Confirming this, the Deputy Managing
Director (DMD) of Precise Financial Systems (PFS), Philip Ayeni, in a press
statement made available to ITRealms,
said that CLIREC gives UBA control of its internal systems, particularly as “it
concerns the reconciliation of Electronic Funds Transfer [EFT] transactions.”
CLIREC, he told ITRealms, brings to UBA a culture of
timely, accurate and reliable accounts reconciliation system.
He also explained that the
application will run in the bank’s operations in Nigeria, Ghana, Burkina Faso,
Guinea, Liberia, Benin and Cameroon. Other countries are Kenya, Senegal,
Uganda, Congo, Zambia, Tanzania, Gabon, Chad, Congo DR and Mozambique.
According to Ayeni, the application,
provides UBA a completely stress-free method of staying in control of all
reconcilable accounts across the organization while optimizing its human
resources.
“The software integrates all classes
of reconciliation efforts in the bank: primary departments and regions managing
the accounts, control and audit reports requirement, users access to the system
irrespective of location or responsibility and direct interface of the platform
with the bank’s core banking application for data integrity and accuracy,” he
said.
He pointed out that the company’s
solution would be the foundation of accurate accounts reconciliation in the
banking sector, adding that its wealth of experience in the financial industry
backed by strong local service “is an asset to organizations in Nigeria
and Africa.”
+ITRealms DSA +Remmy Nweke (ITRealms) +United Bank for Africa
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