In furtherance of her quest to become Africa’s number one IT platform service provider, CWG Plc has launched a mobile financial services platform in partnership with CIT Vericash.
The hub which is resident in CWG Plc’s data centre in Lagos, will allow the company provide banks and Telcos, across Africa, with a platform that will enable them deliver improved mobile financial services to both banked and unbanked population.
Speaking on the essence of the innovation, Mr. James Agada, Chief Executive Officer, CWG Plc, explained that the CWG Vericash Hub is designed to enable financial institutions offer quality services to their customers at a reduced cost.
According to him, “Any Bank, Telco or mobile money operator can take advantage of the CWG Vericash Hub to launch advanced mobile financial services without making extensive investment in hardware or software. The hub supports various deployment models – white labelling, co-branding and even onsite deployment. As we speak, it powers the U-mobile, a trail blazing mobile banking product recently launched by the United Bank for Africa.”
He further highlighted the unique features of the hub: “CWG Vericash Hub supports wallet services, agency services, integration with payment cards (credit, debit, prepaid), bill payment, shopping services via mobile channels App, SMS and USSD. It also features a sophisticated transaction processing engine that is able to orchestrate transaction flow between multiple service providers, a feature that will enable banks to offer a large number of non-traditional services from insurance to ticketing.”
“In addition to these, the CWG Hub also benefits by being connected to the Vericash Network bringing additional cross border services in remittances and bill payment”, he concluded
This innovation comes on the heels of a number of so many other widely acclaimed solutions that has positioned the company as a leading provider of technology solutions that enable business growth in Africa. Recall that she powers the Diamond Yello Account to provide access to Diamond bank services to millions of MTN subscribers in Nigeria, using their mobile phones.
She also launched http:\\openmall.ng, an ecommerce platform that allows SMEs own their own virtual stores online and improve their sales. Another is http:\\smerp.ng, an accounting and business management solution that aims at empowering SMEs keep accurate records and generate important data.