International bank solutions company CR2, has announced it has expanded its operations to Nigeria to assists banks to reduce costs and increase revenues through the use of self-service channels.
According to the company, the move was spurred by the ongoing drive for cashless policy in Nigeria as well as the huge opportunities in the Nigerian market.
Addressing newsmen in Lagos, the company’s Chief Operating Officer, Mike Brady, said CR2 has been in business for over 25 years. The company has more than
100 banks as customers, spread across 60 countries. Its number one market is Africa and 60 per cent of its revenue comes from Africa.
Brady said the firm has been in Nigeria for 10 years and has been working with Diamond Bank. He said Nigeria remains a very dynamic market for CR2 as banking customers continue to embrace innovative and unique banking services.
“We think the time is right for us to expand in Nigeria and we are doing that by working with Global Info Swift (GIS). We have started employing local employees,” he said.
The software company sells its products specifically to banks and he said the company’s banking solutions also help in reducing cost of transactions.
“There is a whole trend in the banking business to move towards self-service. The next big wave in terms of self-service is to enable the person from his home and office to do internet banking and the big trend over the next number of years is mobile banking, we do mobile internet and also mobile apps. We also produce the software behind point of sale (PoS).
“So, ATMs, mobile banking, PoS, internet banking, are referred as channel banking. What we did with our omni channel banking is to put a channel manager, which is a piece of software in front of the core banking and through that we can do anything,” he said.