Ecobank connects 34 African countries with a unified cash management system

Ecobank: Using cash management tech for good in AfricaEcobank: Using cash management tech for good in Africa

Ecobank is the 2020 recipient of Aite Group’s Impact Innovation Award in Cash Management and Payments for Operational Efficiency for the development and launch of its Omniplus cash management solution.

The Omniplus platform is built on Finastra’s Fusion Cash Management platform and as such can support balance and transaction reporting, notional and physical pooling, corporate liquidity management, intercompany loans, cash flow forecasting, automated payables and receivables and check services, in line with tier one international banks globally. Services are presented in real-time with clear visibility of funds and liquidity, and a growing variety of value-added services to be built on top of the core Omniplus platform.

Ecobank selected Finastra as its primary vendor partner for the solution after a search of large-scale global vendors who could meet Ecobank’s requirements. Learn how Ecobank has created an innovative cross-border payment and cash management system with Fusion Cash Management – fuelling international expansion.

View our infographic to see important key details outlined.

 

Our digital strategy, stipulated digitalizing ourselves, our customers and our stakeholders. Fusion Cash Management was the catalyst that enabled this for our corporate customers.

Tomisin Fashina PhD Group CIO/MD, eProcess International SA Ecobank

The benefits

  • 4,000 new customers onboarded on average each year
  • 100% growth in cash management and payments business in four years
  • $21  billion increase in transaction volumes from 2017 to 2018
  • 20% of manual funds transfers automated