Recently updated on September 18th, 2020 at 03:11 pm
Union Systems Limited has announced the launch of its new product (Optimus), which is the first multibank international trade finance portal in Nigeria.
Optimus is a cloud-based application, which enables corporates to initiate, process, and manage all international trade transactions across their banks from a single portal.
It empowers corporates to have a consolidated view of all their trade transactions with different banks without having to visit the banking hall.
Corporates can collaborate and communicate with their teams, suppliers, bankers and other relevant stakeholders in the trade finance value-chain from anywhere in the world. It is available on both the web and mobile channels.
Optimus eliminates the hassle of corporates having to log in to many bank portals to initiate trade transactions with different banks as these transactions can now be made and monitored from a single Portal.
Chuks Onyebuchi, Chief Executive Officer, Union Systems Limited stated:
“We are very excited to introduce Optimus to the African market starting with Nigeria. Optimus has finally given corporates the control they have always demanded from their banks. It promotes collaboration on trade instruments among stakeholders unhindered by time zones, personal contact and channel. The product is intuitive making business users far less reliant on technical support from their IT staff and bank account managers.”
Optimus enables corporates to engage their supplier online real-time at the draft creation stage of Letters of Credit process. It is very secure and ensures interoperability between the corporates and their banks.
With Optimus, corporates can process and manage all CBN forms without visiting the bank and have a single view of their overall credit line utilization at a group level, promoting transparency and efficient management of their bank credit lines. They can pay and print payment receipts of custom duties and NESS fees and manage all trade payment obligations across domiciled banks. Corporates can also track their shipment from any country of supply to Nigeria and easily know the expected arrival date of their goods ahead of time.
In the words of Ngozi Ilondu, Head of Marketing, Union Systems Limited:
“Optimus comes at the nick of time to address the unmet demands of the corporates and to support both corporates and banks to thrive in this new normal created by the pandemic. Optimus will decentralize trade finance operations for corporates by putting them in charge of their operations and interactions with their bank partners.”
Optimus is also equipped with intelligent reporting from multiple data pools processed in few seconds to meet the diverse regulatory and management reporting demands across corporates subsidiaries and branches in different locations. The Optimus dashboard and workflow are intuitive and configurable and can be tailored to a corporate’s operations assigning views and approvals to defined roles. It also ensures that at a glance, a corporate staff can see all pending tasks and messages.
Union Systems Limited (USL) is an Information Technology Company that provides financial software solutions and professional services to major banks in Africa. The company provides software solutions to financial institutions to enhance their software capabilities, effectively scale processes, improve compliance and drive operational efficiencies.
