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FCMB launches Africaââââ‚Ã


March 07, 2008


First CityMonument Bank (FCMB) Plc has launched Africa’s first Central Processing Centre (CPC) in order to enhance the banks service efficiency and delivery across its entire branch network in Nigeria. This platform was launched Friday in LagosNigeria.


Nath Ude, Vice President and Divisional  Head of Operations of FCMB, disclosed that the deployment of the CPC was aimed at moving back office processes and practices out of the brick and mortal channels to promote efficiency, increase customer satisfaction and turn branches into “showrooms”.



Ude says with the deployment of the CPC, initial contacts for all transactions for which  is about 25 percent of the entire transaction is carried out at the branch.



“While maintenances on customers’ accounts and transaction processing on products are done back-end via an interface mechanism on a workflow engine and the banking application” he noted.



In the same vein, Anurag Saxena, Chief Operating Officer (COO) of the bank said that the successful deployment of CPC has resulted in the reduction of paperwork, less distractions and drastic reduction in errors.



“There is also effective control model, better Turn around Time (TAT) on processes/transactions and reduced work induced stress on staff. This is a complete reversal of the old order, where processes were more cumbersome and staff across our network had to work long hours to process transactions” Saxena said.



On his part, Kayode Adigun, Head of CPC- Shared Services Group of the bank said the bank’s CPC technology was borne out of ideas context amongst staff in collaboration with our technical partners, “exploring various technologies and process initiative from different world class banks and financial institutions resulting in a better process work flow” he said.



The CPC is a production platform for processing all transactions for which the customer does not require an immediate output or direct contact with the processor.


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