PFS's new solution lets you deposit cheques through your smartphone

23:49 - 18 October 2016

MD/CEO, Precise Financial Systems [PFS], [middle] demonstrates how the iTeller Mobile Cheque Truncations works while Deputy MD, PFS, Philips Ayeni (left), President, Nigeria Computer Society [NCS] Prof. Sola Aderonmu, [second left) and Director General...

According to the PFS CEO, some Nigerian banks have already signed up to make use of the service.

The days when you had to go to the bank to clear every cheque may soon be in the past.

Precise Financial Systems (PFS), a Nigerian financial software company, has demoed a solution that lets bank users deposit cheques from their phones at the ongoing GITEX Conference in Dubai, UAE.

Speaking on the new solution which is called the iTeller Mobile Cheque Truncation, Yele Okeremi, CEO of PFS, said the solution will help users “to deposit cheques from the comfort of their smart mobile phones."

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The iTeller Mobile app lets users capture images of their cheques and MICR details via the camera on their mobile phones and send to their banks for clearing.

For his part, the Director-General of the National Information Technology Development Agency (NITDA), Dr. Isa Ali Pantami, who was present at the launch, expressed delight that the iTeller Mobile app was developed in Nigeria by a Nigerian company.

“We at NITDA will continue to provide support and assistance for Nigerian ICT firms to develop innovative solutions to make life better for Nigerians,” said Pantami.

The iTeller Mobile Cheque Truncation system will make cheque deposit services available to the bank customers on a round the clock basis.