GITEX: PFS Simplifies Cheques with iTeller Mobile Cheque Truncations

Bank customers can now deposit cheques from their phones through iTeller Mobile Cheque Truncation solution launched by Precise Financial Systems (PFS), Nigeria’s leading financial software company, at the ongoing GITEX Conference in Dubai, United Arab Emirate.

The global business community witnessed the launch this ground-breaking event in Dubai.

Speaking at the launch of the solution in the company’s stand within Nigeria’s pavilion, Yele Okeremi, managing director and CEO of the company, said the solution would allow bank customers “to deposit cheques from the comfort of their smart mobile phones”.

Okeremi disclosed that leading Nigerian banks have been engaged to take advantage of the cutting-edge technology in order to serve their customers better.

While explaining that the iTeller mobile application would be available on the banks’ mobile application platforms for the comfort of their customers, he said, “Customers can now use the camera of their mobile phone to capture the cheque images and MICR details and send it to their banks for clearing.”

In his remarks, Dr. Isa Ali Ibrahim (Pantami), director general of National Information Technology Development Agency (NITDA), who witnessed the launch, expressed delight that the iTeller Mobile Cheque Truncation software is fully developed in Nigeria by a Nigerian company.

“We at NITDA will continue to provide support and assistance for Nigerian ICT firms to develop innovative solutions to make life better for Nigerians.”

Arc. Sonny Echono, permanent secretary of the Federal Ministry of Communications, who led the ministry’s delegation to the official launch of the solution commended the company for flying Nigeria’s flags in the global tech business arenas.

With this launch, PFS has established itself, not only as the leader in cheque truncation space, but also as the first and only software house in Nigeria with a 360 degree solutions suite for cheque personalization, payment processing, deposit capture (mobile, remote, kiosk, and cashier transport scanner), truncation and clearing processing.

iTeller Mobile Cheque Truncation, according to Okeremi, will make cheque deposit services available to the customers, 24 hours-a-day and 7 days-a-week for the customers.

The benefits of the solution to the bank is immense as iTeller Mobile Cheque Truncation ultimately reduces crowds in the banking hall, saves cost of cheque deposit and management, shortens the time-to-value for cheques as well as provides convenience to bank customers.