Transcript Products Bundle - First Bank of Nigeria

Payments & Collections Products
for
SMEs
Outline
• FirstPAY
• Mobile Revenue Collections
• FirstHealthCollect+
• Franchise Collection Mandates
FirstPAY
Features
Product Definition
This is FirstBank’s electronic payment
solution. It is web based, robust, highly
secure, and user friendly.
Benefits
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Eliminates the burden of
issuing multiple cheques
to third parties and
cheque clearing delays
24/7 availability
Reduces the
administrative overload
involved with salary
administration &
payments
Solution to time critical
payments.
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Convenient mode of
settling regular and
periodic payments such
as salaries, premium,
vendor and other such
payments.
It eliminates the need
for multiple passwords
for different epayment
applications
Enables compliance
with CBN cashless
policy
 Multi-Bank: Customers are able to transact
from any of their bank accounts set-up on the
system as against being limited to FirstBank
accounts alone.
 Multi-Switch: FirstPAY offers customers the
alternative of routing their payment instructions
via the InterSwitch, NEFT, NIBBS or RTGS
Platforms. This minimizes the rate of
transaction failure.
 Role Based Access: Users can only access
and perform the role assigned to them on the
system. Only the final approving officer can
authorize payments. It is therefore highly
secure.
 Multiple Levels of Authorization: Customers
can set-up the system to replicate their
payment approval workflow so that their
workflow is not upset by its implementation. It
also permits customers to define up to 19
levels of authorization.
 Transaction Alerts/Reports: FirstPAY alerts
payee when a payment has been made to his
account. Customers are also able to view the
status of all payments processed on the
system.
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Mobile Revenue Collections
Product/Features
 This product is aimed at enabling
collections from the un-banked as well
as people residing in the hinterlands or
locations where banking and
telecommunication facilities and
infrastructure are unavailable.
 Collections are done through the use of
specialized POS terminals that have offline capability.
 It is suitable for SMEs, MFBs, Local
Government authorities and others.
Benefits
 It enhances the customer’s
revenue/sales collection.
 It provides revenue assurance
by preventing pilferage,
diversion and suppression of
funds.
 Provides payment convenience
for the customer’s clients
FirstHealthCollect+
Product/Features
FirstHealthCollect+ is FirstBank’s hospital
management and revenue collection solution,
borne out of the need to enhance hospital
management by effectively coordinating
administrative processes such as:
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Generation of patient data
Scheduling appointments,
Drug inventory management
Effective billing
Revenue collection
Reconciliation etc.
The solution has various modules which can
be deployed in phases depending on the
hospital’s needs and peculiarities.
Benefits
 It automates the hospital’s
processes thus improving
efficiency
 It provides revenue assurance
by addressing the issue of
pilferage, diversion and
suppression of funds
 It eases account reconciliation
 Provides payment convenience
for patients
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Franchise Collection Mandates
Product/Features
This is the collection of various bills and taxes
on behalf of organizations in both the public
and private sectors of the economy. Our
collection mandates include:
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FIRS
Customs & Excise Duties
Nigeria Ports Authority
NIMASA
Electricity Bills
TV Subscriptions
States Government taxes
Telecom subscriber & dealer payments
Water Bills
Waste Bills
Tertiary institutions
Sales Collections
etc.
Benefits
 This service provides payment
convenience to our customers
as payment can be made
through various channels such
as branch, ATMs, web,
FirstOnline & Firstmonie
 It saves customers the stress of
liaising directly with the billers
and tax offices as payments are
processed through the bank and
electronic receipts issued to
them
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Thank you
www.firstbanknigeria.com
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