Software development and marketing company with a niche for financial systems Precise Financial Systems will showcase its newly developed Self-Service Cheque Deposit Processing Solutions (DEPOTEL) to financial service experts on May 7th, 2009 at the Lagos Civic Centre, Victoria Island Lagos.
DEPOTEL is a suite of automated cheque lodgment and processing solutions which comes with self-service cheque deposit terminal as well as branch-level cheque clearing capability (cashier sub-system). It ensures a straight-through process from cheque lodgment to cheque clearing. The solution combines software and hardware to provide a scalable and state-of-the-art automation with seamless abilities for absorbing technological and operation growth in the future.
DEPOTEL offers a complete self-service cheque deposit experience for bank’s customers with ease, providing 24 hours, 7 days access for cheque deposit and excellent back office cheque processing and management. It completely automates the acceptance and treatment of cheque transactions made at the kiosk through a straight through and thorough process of acceptance, treatment and approval.
Specifically, the event is designed to celebrate Nigeria excellence. Among those expected at the event include Dr. Paul Lawal, Managing Director of Nigeria Inter-Bank Settlement System (NIBSS) who will present a paper on the automation of cheque system in Nigeria, Mr. Mitchell Elegbe, CEO, Interswitch, Mr. Valentine Obi, Global CEO, eTranzact, Mr. Ken Spann of Microsoft Nigeria, Mr. Hugh Bonfield of Reiner Gmbh from Germany and Prof A.D Akinde, Chairman of Chams have all “given their words to be at the occasion,” Mr. Yele Okeremi, CEO of PFS said.
While enumerating the benefits of DEPOTEL to the banks, Okeremi said the solution which was developed in Nigeria by Nigerians has the capability to capture beneficiary details alongside MICR information on each transaction as against the batch mode, thereby eliminating cheques substitution tendencies.
According to Okeremi, DEPOTEL reduces time consuming manual transaction thereby enabling the cashier to focus on other customer requirements, it reduces the man hours required to attend to other customer’s need. Other benefits of the solutions are effective workflow for back-office management of cheque deposit; consistently excellent customer experience; administrative cost savings in customer care, cheque clearing back-office costs and post encoding costs
Besides, Okeremi, assured that DEPOTEL will help banks to decongest their banking halls, saves time and effort to process inward cheque; improves branch-level service delivery and ensures affordable total cost of delivery. On the showcase event, PFS boss disclosed that all the domestic operations head at the 24 consolidated banks are expected.