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BANKING & FINANCE

MTN Business Provides Support For Microfinance Institutions

The MTN Business, which is the business-to-business unit of MTN Nigeria, has urged Microfinance Institutions (MFIs) to make use of cost-effective and operationally efficient solutions in the management of their businesses, using the MTN Business Solution that supports microfinance’s drive for financial inclusion.

According to the company, the solution is designed to enhance the operations of MFIs in the country, by helping them reach out better to the country’s unbanked and financially underserved population.

Speaking at the forum, the Acting Chief Enterprise Solutions Officer, MTN Nigeria, Tsola Barrow, who was represented by the Senior Manager, Enterprise Marketing, Olutayo Egunjobi, said that the MTN XaaS: Micro-Banking Software-as-a-Service solution was introduced to take the operations of MFIs to another level, adding that it provides a highly secure, cloud-based solution that, by design, could be implemented within a short time without licensing or setup costs.

“MTN Business is committed to delivering value and driving business growth in Nigeria through tailor-made, productivity-enhancing solutions. We also recognise that microfinance banks provide a huge funding platform for SMEs. Thus, enhancing the service delivery of these banks makes access to funds easier for SMEs, ultimately impacting positively on the economy,” he said.

Managing Director of MBA Microfinance Bank Limited, Bode Ajayi, described MTN XaaS as very fast and as the best of all the software solutions he had used till date. He added that the solution provided remote access and authorization to carry out transactions from anywhere via a secure private or public connection.

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