News Column

Mainstreet Bank Launches Shared Service Centre, Automates Banking Operations

July 8, 2014



The Executive Director Operations and Technology, Mainstreet Bank Limited, Mr. Anogwi Anyanwu, has announced that the bank has successfully completed the implementation of the first phase of its Group Shared Services (GSS) project.

The project has led to the automation of about 80% of Mainstreet Bank's banking operations across its over 200 branches in the country.

Speaking recently on the progress recorded by the Bank on the project, Mr. Anyanwu noted that the first phase of the shared services project has significantly improved the bank's ability to respond to various customer needs in a prompt and efficient manner.

He cited some of the benefits recorded so far to include: consolidation of 41 MICR centers and 34 clearing centers into one centre thereby ensuring prompt processing and delivery of service. The project has also led to an end to end processing of many hitherto branch functions from the Group Shared Service Centre.

Other benefits of the first phase of the project include: standardization of services across the bank, centralized processing of basic customer requests, prompt and seamless funds transfers, instant advice to customers on various types of transactions, and card issuance on the electronic card request management (e-CRM) platform which facilitates processing of all card requests under 24 hours.

The Executive Director noted that the second phase of the project which has already commenced will ensure the automation of Trade and Credit related functions such as Form 'M', Letter of Credit issuance, Bills for Collection payment, Trade Finance, Procurement, Loan Origination and Expense processes.

The automation will ease delivery of service and payments to suppliers. Mr. Anyanwu also assured customers that the entire process has been designed to ensure that the incidence of fraud is minimized at every stage of processing transactions.

The Mainstreet Bank Shared Services Centre is a service point for every operations activity of the bank. Core banking functions previously processed at different branches and units are now centrally processed in a technology driven system that ensures the bank reduces cost, enhances efficiency and boosts customer service.

Upon completion of the initiative, customers of the bank are expected to enjoy fully dedicated service support in every area of their business transactions.

Mainstreet Bank Limited has by this milestone joined the league of the few Nigerian banks that have successfully implemented a shared services model.


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Source: AllAfrica


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