E-Financial
Interswitch Enhances Healthcare with Hospital Management Solution
Interswitch Transnational, Africa’s leading digital payments and commerce provider is set to spark off transformation of Nigeria’s health sector with the launch of Interswitch Hospital Management Solutions (IHMS), a shared outsourcing infrastructure to help manage non-core functions such as patient record keeping, Claims Management and other administrative services.
The solution enables Care Providers to focus on their most essential services without being burdened by time-consuming data management tasks, giving them the ability to pay added attention to keeping their patients healthy.
It changes the way Clinicians, Doctors and other medical professionals manage patient information from registration to payment. Other services offered as part of the solution include Claims Processing, Integrated Payments and Reporting, Claims Dispute Arbitration and Settlement, Biometric Patient Identification at hospitals, Capitation Payments Tracking, seamless Patient Eligibility Management and secure patient data hosting and mining with global standards.
Speaking about the benefits offered by IHMS, Chinyere Don-Okhuofu, DCEO Industry Vertical Markets, Interswitch commented, “Healthcare in Nigeria is plagued by severe challenges from lack of adequate technology infrastructure and high operational costs to manual submission and processing of health claims. As it currently stands, Healthcare Providers and Insurers simply do not have the capacity to manage all of these non-core functions, while still giving their patients the proper care they need.
Interswitch Health Management Solution has been developed to address this issue. Patient processing in health facilities is well integrated from front desk to nursing, doctors to diagnostics, inventory to billing, allowing medical entrepreneurs track cost and revenue in real-time.
Patients will enjoy seamless access to quality healthcare and the multiple functionality of their cards, which include care, payments and savings.
With IHMS, Regulators also have access to quality information for policy making, reduced industry fraud rates, effective government interventions and centralized electronic medical records”.
Health Providers registered on the platform will have their patient records transferred and hosted on a secure server, which allows the flexibility of using World Health Organization’s ICD 9 or 10 coding. Patients visiting the hospital for treatment may opt to be issued a Chip and PIN-based card used for identification, storing medical history and payments for medical services. The solution makes it possible to submit claims or bills to the HMO and track payment easily after service has been delivered.
Chinyere went further to explain the benefit to Health Insurers saying; “The several benefits of IHMS to Health Insurers include reduced fraudulent claims, efficient revenue collection & expense management, improved patient satisfaction, streamlined and standardized operations, improved resource planning & allocation and market share growth due to outsourcing of non-core operations. Hospitals also enjoy quick Claims submission process and timely Claims settlement.”
It can be recalled that recently, Interswitch launched Card Transaction Control, which allows Nigerians to take control of their transaction security.
IHMS is another step by the brand that further reinstates its position as a market leader with the interest of Nigerians at heart.
E-Financial
First Securities Brokers Empowers Nigerians to Trade in the Stock Market with the Launch of FirstInvest App
First Securities Brokers, one of Nigeria’s leading stockbroking firms and a subsidiary of FirstHoldCo Plc, is pleased to announce the official launch of the FirstInvest App, an innovative mobile investment platform designed to make stock market investing simpler, faster, and more accessible for Nigerians.
The FirstInvest App offers investors a seamless digital experience, enabling them to open and manage their investment accounts, monitor their portfolios, and trade equities listed on the Nigerian Exchange (NGX) directly from their mobile devices.
Designed with both new and experienced investors in mind, the platform combines convenience, security, and ease of use to help users make informed investment decisions anytime and anywhere.
As Nigeria continues to embrace digital financial services, the FirstInvest App reinforces First Securities Brokers’ commitment to driving financial inclusion and expanding access to wealth creation opportunities through technology.
Speaking on the launch, Fiona Ahmed Ahimie, Managing Director of First Securities Brokers, said: “The launch of the FirstInvest App represents another significant milestone in our digital transformation journey and our commitment to delivering innovative investment solutions to our clients.
“We understand that today’s investors value convenience, speed, and accessibility. FirstInvest has been developed to provide exactly that: a secure and intuitive platform that empowers individuals to participate confidently in the capital market from wherever they are.”
She added: “Our goal is to remove the traditional barriers associated with investing by placing the power of timely investment and decision making in the stock market directly in the hands of Nigerians. Whether you are taking your first investment step, actively managing your portfolio or just evaluating your investment, FirstInvest provides the tools and flexibility needed to support your financial aspirations.”
The app delivers a range of features designed to enhance your investing experience, including: Secure digital account opening and onboarding, Real-time access to investment portfolios, Buy and sell Nigerian equities with ease, User-friendly trading interface, Secure transaction processing, Convenient access to market information and investment opportunities.
The launch of FirstInvest aligns with First Securities Brokers’ broader strategy of leveraging technology to improve customer experience while supporting the growth of retail participation in Nigeria’s capital market.
First Securities Brokers remains committed to providing trusted investment advisory services, innovative financial solutions, and exceptional customer service, helping clients build and preserve wealth across generations. The FirstInvest App is now available for download on the Google Play Store and the Apple App Store.
The next currency crisis could accelerate the shift of the roughly $315 billion global stablecoin market into a digital-dollar alternative for citizens in emerging economies, notably in regions like sub-Saharan Africa and Latin America.
As local fiat currencies face devaluation and high inflation, citizens and businesses are increasingly utilizing smartphone-based stablecoins (such as USDT and USDC) as hedges and primary mediums of exchange.
According to the International Monetary Fund (IMF), the rapid adoption of dollar-linked digital assets—particularly in countries heavily affected by inflation like Nigeria—poses significant risks to monetary sovereignty.
With up to 95% of surveyed individuals in some African markets preferring to receive payments in stablecoins over local fiat, the rising volume of these decentralized, cross-border channels weakens domestic currency demand and dilutes the effectiveness of local monetary policy.
IMF observed in a report titled “Stablecoins in Nigeria: A Growing Cross-Border Channel” noted that the widespread use of stablecoins poses risks to monetary sovereignty, particularly as more individuals and businesses turn to digital dollar-linked assets for savings and transactions.
Nodding in agreement is Future Investment Initiative Institute (FII Institute), a non-profit organisation run by the Public Investment Fund, Saudi Arabia’s main sovereign wealth fund.
FII Institute said that central banks face structural challenges.
And according to the institute, when citizens move savings out of national banks and into private digital wallets, conventional capital controls lose their grip.
Institutions like the Bank for International Settlements warn that interest-bearing stablecoins compete directly with domestic-currency deposits, complicating financial oversight and making smartphone-based transfers incredibly difficult for authorities to monitor.
In Nigeria, Naira depreciation has pushed users toward dollar-stablecoins, according to report by Gino Matos in cryptoslate.com.
A stablecoin is a type of cryptocurrency designed to maintain a steady value by pegging its price to a reserve asset, such as a fiat currency (e.g., the U.S. dollar) or a commodity (e.g., gold).
They act as a bridge between traditional money and the digital asset world, providing the speed of crypto without the extreme price swings of assets like Bitcoin.
Federal government has reopened three federal government of Nigeria (FGN) bond issues valued at N1.2 trillion for subscription as part of efforts to raise long-term funds from the domestic debt market.
The Debt Management Office (DMO), which announced the offer on Tuesday, said the three reopened bond issues are each valued at N400 billion.
According to the DMO, the first offer is the January 2035 FGN Bond, a 10-year reopening, carrying an interest rate of 22.60 per cent per annum.
The second is the May 2028 FGN Bond, a 15-year reopening, with a coupon rate of 15.45 per cent per annum, while the third is the June 2037 FGN Bond, a 20-year reopening, also valued at N400 billion.
The office said the bond auction is scheduled for July 20, while successful subscriptions will be settled on July 22.
It explained that the bonds are offered at N1,000 per unit, with a minimum subscription of N50 million and additional investments in multiples of N1,000.
For the reopened bonds, the DMO said successful bidders would pay a price based on the yield-to-maturity that clears the auction, in addition to any accrued interest on the instruments.
Interest on the bonds will be paid every six months, while the principal will be repaid in full on the respective maturity dates.
The DMO reaffirmed that FGN bonds are backed by the full faith and credit of the Federal Government and constitute obligations chargeable on the general assets of the federation.
It added that the bonds qualify as trustee investment securities under the Trustee Investment Act and enjoy tax exemptions for eligible investors, including pension funds, under the Company Income Tax Act and Personal Income Tax Act.
The bonds are listed on the Nigerian Exchange (NGX) and FMDQ Securities Exchange and also qualify as liquid assets for banks in computing their liquidity ratios.
FGN bonds are long-term debt instruments through which investors lend money to the Federal Government in exchange for periodic interest payments and repayment of the principal at maturity.
NBC Scraps Annual Digital Access Fee on DSO
Surge in Fibre Cuts Hobbles Service Provisioning
Why Bandits, Kidnappers are Hard to Trace despite NIN-SIM Linkage – FG
First Securities Brokers Empowers Nigerians to Trade in the Stock Market with the Launch of FirstInvest App
Quest Merchant Bank Hosts Great Place to Work® Nigeria Study Mission
NRC, Ponzi Scheme Collapses Resulting Loss of Billions of Naira
Nigeria Launches FreeTV Nationwide
NASENI Moves to Digitize CCB’s 5m Assets Declaration and Operations
Lebara Nigeria Launches Lebara Play, Africa’s First Telecom-Owned Micro-Drama Platform
CANAL+ Partners Samsung to Pre-Load DStv Stream on New Samsung TVs In Nigeria, Other African Countries
Telecom2 days agoMTN Nigeria Slashes Cost of Broadband Internet Router, Unwraps New Data Bundles for Low-Budget Users
E-Financial2 days agoNigerians Accumulate $59Bn in Cryptocurrency Assets —FDC
E-Financial2 days agoFlutterwave Partners Xoom on Transfers into Nigeria
General News2 days agoNearpays, Nigerian Fintech Becomes First African Startup to Win UN’s AI for Good Innovation Factory
News2 days agoDataPro Upgrades Dangote Cement’s Credit Rating to AA+
Telecom2 days agoNokia’s 14 Years of Mobile-Phone Supremacy Ended in an Afternoon
General News2 days agoFintech Brands Should Communicate Right in a VUCA Economy
General News2 days agoLASG Signs PPP Concession Agreements to Advance Digital Services, Others