Inlaks has integrated the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending National Microfinance Bank into its Information Technology platform for microfinance banks.
The firm said in a statement that it was appointed as the implementation partner to host NIRSAL National MFB on the National Association of Microfinance Banks unified IT platform.
It said the NIRSAL National MFB would commence operation with 10 take-off branches in January 2019 and subsequently expand branch operations to all 774 local governments of the federation. The statement read in part, “All NIPOST outlets nationwide will eventually be used as branches for the bank in addition to other branchless innovations from Inlaks.
“This is to enable the new bank to achieve the required speed in reaching out to Nigerians in rural areas.”
The Managing Director, Africa Operations, Inlaks, Femi Adeoti, explained that the unified platform comprised a core banking system and sub-systems for agent banking, non-interest banking and mobile payment among other services.
Adeoti said, “The NAMBUIT is a ‘Software-as-a-Service’ platform that will drive the operations of the proposed National MFB in a way that will reduce operational costs as well as improve the bank’s ability to provide the necessary information to agencies such as the CBN and Nigeria Deposit Insurance Corporation.
The NPF Microfinance Bank, with 28 branches across the country, is another nationally rated microfinance bank already live on the platform. In addition, about 50 unit microfinance banks (spread all over the country) are also on board.”