Progronics Unveils Symbols for Microfinance Banks

Leading Information and Communications Technology solution provider, Progenics, has extended its generic brand Symbols to the banking sector with the unveiling of Symbols Micro-finance banking application.

Symbols Micro-finance is a comprehensive and integrated microfinance banking application. The system has been designed to systematically align all facets of banking operations to produce unparalleled customer service delivery without the attendant operational bottlenecks.

The core modules Symbols Micro-finance includes system administration, customer information system, general ledger, customer accounting and teller operations/front office.

Others are credit management, fixed asset management internet based customer service delivery that allows customers to log on to the web to check their account balance, as well as investment management.

Mr. Tony Udoh, managing director, Progenics, said that Symbols Micro-finance aims at ensuring that the challenges that may hinder the smooth operations of Micro Finance banks are mitigated.

"We have scaled down our modules to allow them buy into the application and also to help Micro Finance banks meet Central Bank of Nigeria requirement," he said.

Symbols Micro-finance is an integrated and advance application system designed specifically to meet the information technology requirements of Micro Finance Banks.

It consists of several modules applications that interface seamlessly together. The relational database management system Symbols Micro-finance uses is the Oracle RDBMS, which is the industry leader in performance and features in the field of object-relational database management systems.

The application system uses the industry standard windows interface that is already very popular in business circles and as such users with basic no problem getting used to the entire suite of applications.

The system has been designed with several advanced features to enable microfinance banks easily integrate these applications.

Progenics Corp Limited has been at the fore front of the Information Technology revolution in the financial sector of the economy. Its’ leading role in the software development sector has been consolidated over the years.

In less than four years after the conceptualization and introduction of the software, it has claimed about thirty percent of the total market share and more firms are already at different stages of acquiring the software. Apart from penetrating the Nigerian market with such unusual virility, Symbols has gone ahead to become the toast of asset managers in other African countries especially in Ghana where almost twenty percent of stockbrokerage and asset management companies are already subscribed to the software.