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Monday, October 28, 2019 /02:50PM /FCMB / Header Image Credit: FCMB
First City Monument Bank
(FCMB), a leading financial services provider, in collaboration with
SystemSpecs Limited, has launched a solution that is focused on aiding
different aspects of business operation. In a Memorandum of Understanding (MoU)
signing ceremony held in Lagos on October 24, 2019, the Bank said the product
is a payroll solution, designed to meet the yearnings of thousands of its SME
customers seeking more efficient, easy-to-use and affordable business tools to
seamlessly operate their businesses. This, it was disclosed, will be very
useful to individuals in business, small and medium enterprises as well as
corporate organisations.
Tagged "FCMB Payroll",
the solution comes with exciting features that enable SME owners to easily process
payroll; pay employees' salaries into commercial/micro-finance bank accounts or
wallets and issue them regular pay slips. To all staff of any customer or
registered SME, the solution also over-rides collateral requirements, even
without the traditional documentation to access loans from FCMB. The product
enables these customers easily maintain historical personal and payment records
of all employees, including items such as their taxes, pensions and other
possible transactions.
Besides
other benefits, staff who are on the payroll solution will have access to
payday loans after 3-6 months of enrolment. This is on the premise that salary
payments are consistently done through the portal. The lender also declared the
solution is open to both FCMB and non-FCMB account
holders. Meanwhile, salaries can be paid from any bank account in Nigeria to
any individual salary account in any other bank.
FCMB Payroll
is delivered in partnership with SystemSpecs, one of Nigeria's leading payroll
solution and services companies with over 25 years' experience of providing
payroll solutions and services to public and private sector organisations in
Nigeria and other African countries. The company is also the provider of Remita
Payments Application, Payment Gateway and Payment Infrastructure.
Commenting
on the initiative, the Managing Director, First City Monument Bank
(FCMB), Mr. Adam Nuru, said the
introduction of the FCMB Payroll
initiative is in line with the commitment of the Bank to grow the nation's
economy by providing SMEs with cutting-edge business tools to support their
operations and help them build scale. Mr. Nuru further stated that, "we are
excited to partner with SystemSpecs, a major solutions provider in the
financial ecosystem to address some of the challenges confronting SMEs. The FCMB Payroll
platform has been designed to provide a more convenient and modern business
tool for business owners and their employees. As a Bank that is consistently
innovating to meet our increasingly dynamic customer base, we are confident
that the FCMB
Payroll initiative will go a long way to boost the operations of SMEs and
improve their productivity".
Also speaking, the
Managing Director of SystemSpecs, Mr. John Obaro, said, "as an organisation,
our aim is to continue to provide individuals and organisations with innovative
tools to help them become more productive and take full charge of their
operations. We are delighted at the opportunity to partner FCMB to
extend our experience and expertise in payroll solutions to the Bank's customers.
We are convinced that FCMB Payroll
would help SME customers improve their processes, maintain a satisfied
workforce, boost margins and increase scale speedily."
FCMB Payroll
has offerings for SMEs at different phases of growth and these are available to all FCMB SME
business account holders and a select SMEs segment that maintains business
accounts with other banks. The base option is FREE to use for all SMEs. Signing up
to use FCMB
Payroll is easy and fast and can be achieved from the Bank's website.
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