Interbank customer reference exchange for Nigerian Banks
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Interbank customer reference exchange for Nigerian Banks

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Interbank customer reference exchange for Nigerian Banks

Interbank customer reference exchange for Nigerian Banks

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    Interbank customer reference exchange for Nigerian Banks Interbank customer reference exchange for Nigerian Banks Presentation Transcript

    • Intrex   Interbank  Referencing  Exchange   for  Bank  Account  Opening  
    • IntreX:  Interbank  Referencing  Exchange   IntreX  is  a  communica6on  exchange  pla:orm  that  will  enable   Banks   in   Nigeria   automate   the   customer   referencing   process   required  for  opening  bank  accounts.   The   structure   is   such   that   all   par6cipa6ng   banks   will   upload,   dispatch   and   receive   customer   reference   forms   and   reference   results  electronically  via  a  single  exchange  pla:orm.   Reference   forms   will   be   securely   stored   locally   at   each   par6cipa6ng   bank,   whereas   the   exchange   will   only   act   as   a   rou6ng,  logging  and  monitoring  system.   2  
    • IntreX:  Interbank  Referencing  Exchange   •  •  •  •  Will  run  client  side  program   Data  and  forms  stored  locally   Secure  inbox  and  outbox   Digitally  signed  messages   •  Route  messages  between   banks   Ac6vity  and  sta6s6cs  logging   Monitoring  and  aler6ng   •  •  3  
    • Current  Process   Customer  Bank  manually  dispatches  reference  forms  with  a  cover  lePer  to  account  holding   branch  in  Referee  Bank  via  couriers   Branch  of  Referee  Bank  receives  forms  and  performs  referencing   Branch  of  Referee  Bank  manually  dispatches  a  reply  to  Customer  Bank  also  via  couriers   Customer  Bank  receives  reference  status  results  from  Referee  Bank     7    -­‐    Indefinite    No.  of  Working    Days   Customer  submits  completed  reference  forms  to  Bank  with  referee’s  account  details.   Customer  Bank  informs  customer  of  outcome  of  the  reference  performed   4  
    • Challenges  with  the  current  process   1.  Prone   to   “Time   delays”   due   to   manual   dispatch   of   customer  reference  forms.   2.  Courier  and  dispatch  costs  are  “Expensive”  and  avoidable.   3.  There  is  “No  audit  trail”  of  the  en6re  process  –  it  is  hard   to  know  who  is  doing  or  has  done  what.   4.  The   prin6ng   of   cover   lePers   and   envelopes   come   with   “High  costs  and  environmental  demands”.   5  
    • Proposed  Process   CUSTOMER   Submits  completed   reference  forms  to  Bank   with  referee’s  account   details.   Customer  is  no6fied  of   reference  outcome   CUSTOMER  BANK   IntreX  Client   Scans  and  uploads   reference  forms  into   bank  instance  of   IntreX,  provides   rou6ng  details  and   sends  to  reference   bank   IntreX  Client   24  Hours   REFERENCE  BANK   IntreX   EXCHANGE   Server         Intelligent   rou6ng  of   request   based  on   built-­‐in  logic         IntreX  Client   Receives  request  and   forms  are  downloaded   onto  bank  instance  of   IntreX,  performs   reference  and  outcome   is  sent  to  customer   bank     IntreX  Client   6  
    • Benefits  of  proposed  process   1.  Banks  can  demonstrate  “Enhanced  Customer  service”  due   to  “Reduced  Processing  Time”  to  days  rather  than  weeks.   2.  Electronic   delivery   and   interbank   communica6on   will   ensure   “Cost   Savings”   when   compared   to   manual   dispatch.   3.  Less   paper   prin6ng   will   “Increase   Social   Responsibility”   through  Green  IT.   4.  Maintain   “Accurate   Audit   Trails”   and   records   throughout   the  en6re  customer  referencing  process.   7  
    • Opera6onal  Model   Par6cipa6ng  Bank   Darrell  Hill   Consul6ng   •  Meet  par6cipa6on  requirements  (Computer  with   intermiPent  Internet  connec6on)   •  U6lise  IntreX  for  all  customer  referencing   •  Remit  fees  and  charges  based  on  invoicing  on  a   monthly  basis   •  Develop  and  support  all  aspects  of  the  IntreX  sodware   applica6on   •  Ensure  the  availability  of  IntreX  on  a  24x7  basis   •  Bill  par6cipa6ng  banks  on  a  monthly  basis   •  Provide  defined  and  adhoc  repor6ng  as  requested  by   par6cipa6ng  banks   8  
    • Pricing  Model   Customer  bank  pays  N250  per   reference  cycle   9  
    • Arrange  a  Live  Demonstra6on   For  further  informa6on  and  to  arrange  a  demo  to  answer  any   ques6ons  you  may  have,  kindly  contact  us  through:     Hillary  Obomighie   Managing  Partner  –  Africa   Darrell  Hill  Consul6ng   Plot  22  Idowu  Taylor  Street   Victoria  Island,  Lagos     hobomighie@darrell-­‐hill.com   +234  (0)  705  379  4772   10