News Column

CWG Extends MTN XAAS to Diamond Y'elloAccount

September 3, 2014

Akinlolu Oluwamuyiwa

COMPUTER Warehouse Group has extended the MTN XaaS platform to power the Diamond Y'elloAccount in collaboration with Diamond Bank and MTN Nigeria.

The CWG said it took the decision in furtherance of the cashless initiative of the Central Bank of Nigeria.

MTN XaaS runs on indigenous software from CWG designed to provide efficient cloud-based banking services. Diamond Y'elloAccount is a mobile banking product built on MTNXaas platform to enable MTN subscribers, including the unbanked and under-banked populace in Nigeria, enjoy the banking services from Diamond Bank.

The Diamond Y'elloAccount allows automatic account opening by all MTN subscribers, and presently put at 58.4 million.

During the introduction of the service in Lagos, the Managing Director and Chief Executive Officer of Diamond Bank, Dr. Alex Otti, said the move was aimed at deepening the cash-less initiative, considering that only about 40 million out of the estimated over 150 million Nigerians had been banked.

Otti noted that the development would afford millions of Nigerians who have mobile phones, but are separated from banking activities due to procedures, to effortlessly key into the formal banking system.

The Chief Technology Officer of Computer Warehouse Group, James Agada, noted that DiamondY'ello Account is riding on indigenous technology provided by the CWG.

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Source: AllAfrica

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