First City Monument Bank (FCMB), one of Nigeria’s leading deposit money banks (DMBs), and SystemSpecs, a software development house focused on providing financial software solutions for the Nigerian and African markets, have launched FCMB Payroll. A payroll solution designed to meet the longings of thousands of its Small and Medium Enterprise (SME) customers on the lookout for efficient, easy-to-use and reasonably-priced business tools for their operations.
FCMB Payroll Reason for the Partnership
The financial software solutions tagged “FCMB Payroll”, comes with great features that will enable small and medium business owners process payroll easily, pay employee salaries into commercial/micro-finance bank accounts or wallets and also issue them regular pay slips.
Speaking at the launching, FCMB Executive Director, Retail Banking, Olu Akanmu, said the introduction of the FCMB Payroll is in line with the bank’s commitment to grow the nation’s economy by providing SMEs with leading-edge business tools to support their operations and help build scale.
In his statements, Akanmu said, “We are pleased to partner with SystemSpecs, a major solutions provider in the financial ecosystem to address some of the challenges faced by SMEs in Nigeria and Africa.”
While lauding the initiative, he said, “As a bank that is continually innovating to meet our increasingly dynamic customer base, we are confident that the FCMB Payroll initiative will go a long way to boost the operations of SMEs and improve their productivity.’’
John Obaro, the Managing Director of SystemSpecs, while speaking at the introduction of the business tool, said, “As an organisation, our aim is to continue to provide individuals and organisations with innovative tools to help them become more productive and take full charge of their operations. We are happy at the opportunity to partner FCMB to extend our experience and expertise in payroll solutions to SMEs.”
Mr. Obaro strongly believes that FCMB Payroll will help SME customers expand their processes, maintain a fulfilled workforce, improve margins and increase scale quickly.
SystemSpecs In The Financial Ecosystem In Nigeria And Africa.
FCMB Payroll is delivered in association with SystemSpecs, one of Nigeria’s leading payroll solution and services companies with over 25 years practice in providing payroll solutions and services to public and private sector organisations in Nigeria and other African countries.
The firm – SystemSpecs – also provides Remita Payments Application, Payment Gateway and Payment Infrastructure solutions within the financial services environment.
Benefits of FCMB Payroll to African Entrepreneurs and their Customers.
The product will enable customers to easily maintain historical, personal and payment records, including their taxes, pensions and other possible transactions of all employees. Also, to all staff of any customer or registered SME, the solution also overrides collateral requirements and the traditional documentation to access loans from FCMB, among other numerous benefits.
