WHAT IS REMITA?
Remita is a modular e-Payments, e-Collections, e-Payroll, and e-Schedules solution on a single multibank platform.
Remita is a very powerful platform that presents individuals and organizations with a very simple and intuitive user interface for the processing of otherwise complex and intricate multi party payment flows.
Today, Remita is in use by many individuals, public and private sector organisations that process over 500 billion naira worth of transactions on a monthly basis.
Adopted by the Central Bank of Nigeria for the payment and collections of funds on behalf of the Federal Government of Nigeria and used by all 22 commercial banks and over 400 micro finance banks, Remita has significantly assisted to revolutionize the e-payment industry in Nigeria.
Remita, developed by SystemSpecs, and voted many times as Nigeria’s Software of the Year, is indeed a success story and a pride to Africa.
WHO CAN USE REMITA?
- Individuals to manage their personal finances
- Public and private sector organisations of any size, structure and complexity.
REMITA PERSONAL FOR INDIVIDUALS
Whilst many individuals make use of their bank’s internet banking site, this usually has limitations, including
- Having to log into the Internet Banking site of each bank, one at a time
- Users can only normally make payment to one beneficiary at a time
-Payers can only select commercial banks as beneficiary accounts
Remita Personal provides the individual user with all of the above and much more.
With Remita Personal, the multi-bank feature empowers the individual to carry out the following activities seamlessly:
- View the balances on their accounts across ALL banks on a SINGLE screen, with a SINGLE login
- Fund transactions from any of their accounts in ANY bank
- Make payments to single or multiple beneficiaries at the same time
- Make payments to beneficiaries in Commercial Banks, Micro Finance Banks, Mortgage Banks and Mobile Wallets
- Analyse payments by expense type to better understand payment and expenditure pattern
- Monitor the status of all transactions from initiation through to payment – no black box!
- Set up Standing Orders to make regular payments to friends, families, religious organizations, associations and clubs, insurance companies etc
- View all their Standing Order and routine payments together irrespective of funding account.
- Access up to the minute, comprehensive, detailed online reports on all transactions across all banks.
Next time you are tempted to hand-write a personal cheque, or log in to individual bank internet sites, just think Remita and get all your banks to register you on the platform immediately!
REMITA FOR CORPORATES
Today, many corporates are confronted with many challenges, which includes:
- Operating accounts in multiple banks, each with multiple signatories. This tends to create difficulty in knowing the true position of their finances at any point in time.
- Managing high transaction volumes of different types that need to be processed at the same time such as salaries, vendor payments, taxes, pensions, expense claims that may require the attachment of vouchers and invoices.
- Managing transactions across different business units, subsidiaries and branches in different locations, each with different approval level and transaction requirements.
- Being left with no choice but to use solutions that do not cater for the peculiarities of their size, structure and business processes.
- Inefficient, limited, and sometimes porous ways of collecting and accounting for receivables of different types.
The good News … Remita caters for all these and more.
Remita provides corporate, on a SINGLE platform, with a solution to:
- Collect payments – subscriptions, fees, premiums, utility bills etc securely from customers through multiple channels
- Manage employee data and process payroll, including managing statutory and other deductions, and also send automated, electronic payslips to employees after each payroll processing
- Send payments to Tax authorities, Pensions Administrators, Health Management Organisations, Cooperatives, Unions etc with matching electronic schedules
- Make payment to staff, vendors, suppliers etc with accounts in Commercial Banks, Micro Finance Banks, Mortgage Banks and Mobile Wallets
Remita is offered on Software as a Service (SaaS) basis, which means:
- You can access the platform 24/7, regardless of location – home, office, or on the move.
- You do not require upfront investment in software licences, databases, servers, networks etc.
- Disaster recovery and data backup for business continuity is already included in the service offering
- Your need for ongoing, in-house technical support resources is significantly minimised
- You are shielded from typical challenges associated with Software updates and upgrades
- You can securely access the platform through Internet connected PCs, tablets and other mobile devices.
Culled from http://remita.net