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FINTRAK E-CHANNEL SOFTWARE ADDRESSES BANKS’ DRAWBACKS IN DIGITAL TRANSACTIONS

Fintrak Software, an indigenous Fintech solution and software development firm in Lagos recently brought to fore their electronic channel (E-Channel) solution for various  tiers in the banking and other financial space. The product is designed  to address many challenges and drawbacks bankers face in various forms of electronic banking transaction, such as data collation and analysis in their various electronic channels. The software has been lauded as a welcomed development by industry players and bankers.

Speaking on the importance of the solution, Bimbo Abioye, the Group Managing Director of Fintrak Software Limited said” Fintrak E-Channels solution aims to aid financial institutions to extract and create insights from data obtained from all the electronic channels customers carry out transactions through. These electronic channels include ATM, POS, USSD, Agency Banking, Mobile Banking, AND Internet Banking.”

BHe also added that “The solution that banks and other financial institutions need, must be able to quickly and accurately collect data of all electronic channels and other data sources (where applicable), analyse and visualize them in order to enable stakeholders easily make informed decisions to increase sales or boost other performance matrices on those channels. These are the core things that Fintrak e-Channel solutions are addressing.”

With the new E-Channels solution, Fintrak has been able to create a one-stop solution, where- in clients can easily monitor the performance and transactions being carried out on all electronic channels. The solution cleanses and consolidates data which exist in different forms and formats in all the sources, making analysis much easier for users and managers.

Made up of different modules such as ATM module, POS module, SSD module, Agency banking, Internet banking, Mobile banking and debit/credit Card business module. The software is designed to specifically addresses these drawbacks in one platform.

In line with the uniqueness of the software, Olakekan Adewale, Unit Head, Data Warehousing and Business Intelligence, Fintrak said “The Fintrak E-CHANNELS solution is a highly scalable and robust management solution, An E-CHANNEL solution that provides all the functionality needed. There are many modules in the e-Channel solution, including ATMs, POSs, USSDs, Agency banking, Internet banking, mobile banking, and card business modules based on what channels the client offers.

Adewale added that “Unlike most of the solutions in the market currently, Fintrak e-Channel solutions has many objectives such as the ability to monitor and reconcile the activities of the various channels in the Bank which includes ATM, Mobile Banking, Internet banking, USSD , Cards Management”

“With various scope of the software such as Data Extraction, Data Integration, Data Cleansing, Data Analysis, Report Building and Visualizations, Volume and Value Monitoring, Transaction Management, Revenue Analysis, Budget Analysis and all other Reporting Requirements as needed by client. E Channel software helps organizations in cleansing and analysis of data, each module provides reports such Transaction Count and Value by branch, region and customer. Successful versus Unsuccessful transaction summary. Also reports on other transactions such as Actual ATM (volume and value) versus budget, Transaction Failure rate analysis, Transacting Customer Analysis, Active Ratio analysis and Predictive Analytics”,Adewale concluded.

Described as a one stop shop for all forms of banking. The new Fintrak e-Channel can manage all channels under one platform, from agency banking to card banking. These software solutions were developed for banks to help them collect and manage data. It can be described as a one stop shop for all forms of banking.

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