The move supports the cheque truncation policy introduced by the Central Bank of Nigeria (CBN).
Daniel Parreira, Sybrin System’s Sales Manager for Nigeria and Africa, said Nigerian banks will become more efficient and save operating costs.
“Nigeria is a very strategic market for us. We provide payment solutions that would benefit the industry as whole. Not only do we provide cheque truncation solutions, we also provide mobile payment solutions, Internet banking solutions, document management solutions, information management and business management solution. We have identified Nigeria as the market for us to push our solutions,” Parreira said.
He hinted the official launch will be held on Monday, January 28, with First Bank of Nigeria, Skye Bank and United Bank for Africa all involved.
In the last 20 years, Parreira said Sybrin Systems has been able to establish itself as a frontline software technology company that is blazing the trail in providing automated cheque truncation and other payment solutions for major banks, clearing houses and corporations across Africa which include Barclays Bank, Bankserv, South African Clearing House, Electronic Cheque Clearing House (ECCH) in Malawi, Zambia Electronic Clearing House (ZECHL) and Kenya Bankers Association ACH (KBA).