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Stanbic IBTC Bank has upgraded its transaction banking platform to FinnAxia 9.0, aiming for better payments, cash management, and automation for business clients.
Stanbic IBTC Bank has upgraded its transaction banking platform to Nucleus Software’s FinnAxia 9.0. The bank says the upgrade will improve integrated payments, collections, liquidity and treasury management.
Stanbic IBTC Bank completed a move to FinnAxia 9.0, a transaction banking platform used by banks to run corporate cash services. Transaction banking is the “plumbing” for business money movement, it covers payments, receiving money, managing cash balances, and treasury workflows.
The bank said the upgrade strengthens its ability to offer integrated payment and collection services, plus better liquidity and treasury management for corporate and institutional customers. Liquidity management means making sure cash is in the right place at the right time, treasury management is the set of tools finance teams use to control cash, risk, and funding.
Stanbic IBTC Bank said the new version improves automation and connectivity. Automation means more steps are handled by software instead of manual operations, and connectivity means easier integration with client systems such as ERP and finance tools.
Executives including Eric Fajemisin and Jesuseun Fatoyinbo said the focus is faster service, better visibility, and a smoother digital customer experience for business banking users. Nucleus Software CEO Parag Bhise said FinnAxia 9.0 was designed to help banks meet rising expectations with stronger automation and operational efficiency.
For large businesses, “real time” banking is becoming the baseline, not a premium. Companies want instant payments, always on collections, and accurate cash positions across accounts.
Platform upgrades like FinnAxia 9.0 can reduce processing delays and operational errors, and they can help banks ship new features faster. That matters as corporate customers compare banks on uptime, speed, and integration quality.
In Nigeria’s competitive corporate banking market, this kind of transaction banking modernization can also support higher volumes and more connected services, especially as digital commerce and treasury digitisation grow.
For context, Stanbic IBTC is part of the Standard Bank Group, and it operates locally as Stanbic IBTC Bank.
Primary Source: prnewswire.com
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