First City Monument Bank Selects Integrify for Process Management
By Integrify Posted February 14, 2008
First City Monument Bank, the first bank established without government support in Nigeria, has chosen its Integrify request management solution to automate tasks in the administrative & logistics, IT, central processing center, enterprise risk management, and financial control departments.
"We chose Integrify because it was recommended to us by our solution partners in Belgium as easy to understand and use, and provided an almost immediate return on investment," said Olubunmi Ajiobye, business process improvement, FCMB.
The Integrify software solution is a flexible Enterprise Request Management (ERM) system that allows companies to automate requests and streamline processes. The software provides form creation, routing definition, and tracking tools to those responsible for processing requests, minimizing data entry, and simplifying requests for approval and fulfillment. Integrify is web-based, allowing for easy user accessibility and management of business processes. The solution eliminates problems typically related to labor-intensive processes such as manual paper handling and email requests and can reduce costs per transaction by 60 to 90 percent as opposed to paper-based processes.
The system is currently being used at the head office and across 20 branches for 46 request types, including administrative services requests, account management, e-channels operations, funds transfer, consumer and commercial loans, income reversal, workflow task delegation, and IT service and change requests. There are 400 users of the system, but the bank's 3000 employees at its 130 branches will all be using Integrify eventually.
"Close to 2000 requests are being processed monthly right now, but that is expected to grow dramatically as we deploy more processes across all the branches," said Ajiboye.
First City Monument Bank plc (FCMB) was the first bank established without government support in Nigeria. Licensed in 1982, the Bank was one of the leading merchant banks in Nigeria till its transformation at the turn of the 21st century. In 2007, the Bank attracted well over $300 million in direct investment as well as on-lending facilities from leading international institutions such as HSBC, CDC, OPIC and the IFC amongst others.
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