SHARED SERVICES

Shared Technology Platforms for Operational Efficiency and Digital Financial Services

We offer financial institutions a shared, scalable, and technology-driven platform to improve efficiency, expand access, and deliver modern financial services.

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The World Council of Credit Unions (WOCCU) strongly recommends adoption shared services models to gain efficiencies, mitigate risks, expand service points, and provide a broader array of modern, technology-driven services to customers.

This shared Technology platform system is a complete solution designed to offer a seamless experience for customers, merchants, and agents, providing them with easy access to banking services through multiple platforms. The system is made up of several interconnected components that work together to handle customer data, transactions, payments and revenue management.

SHARED SERVICES PLATFORM FEATURES

Explore our robust features and capabilities for seamless and secure operations

Core Banking System

The Core Banking System(CBS) is the backbone of a bank’s operations. It handles everything that happens in the background, ensuring the bank’s records, transaction and customer information are safe, accurate and compliant.
Some features include:

  • Storing of Customer Information: it keeps all the customer details like the name, IDs and account numbers, organized and secure
  • Know Your Customer(KYC): it ensures that the bank knows its customers by verifying identities to prevent fraud.
  • Account Management: it tracks account balances, updates in real-time and logs transactions.
  • Transaction Processing: it handles deposits, withdrawals and money transfers

Central Liquidity Platform

A Shared Central Liquidity Platform is a system that pools and manages financial liquidity across multiple entities, such as banks, exchanges, or credit unions, to increase efficiency and security. These platforms use a central dashboard and main cash account to provide a consolidated view of liquidity positions, enable automated management, and improve overall financial stability.
Some features include:

  • Settlement Management: it allows the viewing of balances, transaction history and mini-statements
  • Treasury Management: it allows seamless intra-bank, inter-bank and mobile money transfers.
  • AML Management: it allows the payment of utilities and subscription services with ease.

Shared Mobile Banking

The Mobile Banking is the part of the banking solution that provides customers with 24/7 access to financial services from any location via the internet browser.
Some features include:

  • Balance Inquiry: it allows you to check how much money is in your account.
  • Money Transfer: it allows you to securely send money to other account or banks.
  • Account Management: it allows you to view transaction history or change account settings.
  • Payments: it allows you to pay bills, buy airtime or pay for utilities
  • Accessibility: it works 24/7 and caters for both smartphone users and normal/basic phones.

Shared Internet Banking

The Internet Banking is the part of the banking solution that provides customers with 24/7 access to financial services from any location via the internet browser.
Some features include:

  • Balance Inquiry: it allows you to check how much money is in your account
  • Money Transfer: it allows you to securely send money to other account or banks.
  • Account Management: it allows you to view transaction history or change account settings.
  • Payments: it allows you to pay bills, buy airtime or pay for utilities
  • Accessibility: it works 24/7 and caters for both smartphone users and normal/basic phones.

Point Of Sale Terminal

The Point of Sale (POS) system enables customers to make payments in-person at physical locations such as shops, restaurants, or agents’ outlets. It extends banking services to merchants(‘the outlets’) and agents (‘people who operate the POS devices’).
Some features include:

  • Card payments: it accepts payments via debit or credit cards.
  • USSD Payments: it allows customers without cards to make payments using their phone by dialling a USSD code
  • Transaction Receipts: it provides both paper and digital receipts for every transactions
  • Convenience: it reduces the need to visit a physical bank or bank branches in remote areas

Card Management System

The Card Management System(CMS) streamlines the entire card lifecycle, from issuance to activation, replacements and secure management. It allows easy management of banking cards.
Some features include:

  • Card Issuance: it has streamlined production and activation processes.
  • PIN Management: it allows secure generation, reset and management of PINs.
  • Real-Time Monitoring: it allows tracking of the card activity and flag unusual transactions
  • Card Renewal & Replacement: it has automated workflows for expiring or lost cards.

Shared Payment Switch

The Payment Switch enables real-time routing, processing and management of transactions across diverse financial channels, connecting to payment network, banks, and merchants. It adapts as transaction needs grow, offering a seamless experience.
Some features include

  • Multi-Channel Support: it handles ATM, POS and online payments
  • Real-Time Authorization: it allows instant validation and processing of card transactions.
  • National Switch Integration: it handles connectivity to central/national payment systems.
  • Compliance: it adheres to industry standards.