Precise Financial Systems

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A Celebration of 25 Years of Innovation

On May 14, 2019, Precise Financial Systems Ltd. threw a party to celebrate 25 years of breaking barriers in software development. From July 1992, when it got registered as PEE-AARR Consulting Limited to when it changed its corporate name in May 1998 to PFS .

Our Services

Financial Applications Provision

Development of financial applications is our forte.  From conception to design, development and implementation, Precise Financial Systems delivers off the shelf and custom-built solutions to our teeming customers in various business areas and services:

Accounts Reconciliation & Settlements

For more than 27 years we have consistently evolved as a leading provider of advisory services and solutions for the complete spectrum of accounts reconciliation function for many sectors of business practices. We have championed the development of what is today known as the three-way reconciliation model for ATM and other EFT products in Nigerian financial sector.

We have similarly developed custom reconciliation models for the Insurance businesses, Microfinance Banks, Manufacturing sector, Pension industry, Logistics businesses and other sectors.

Our accounts reconciliation and settlement solutions are currently powering businesses in more than 37 countries in Africa and beyond.

Value Chain
  • Accounts reconciliation and settlements advisory and consulting services
  • Finance costs adjustments
  • E-journal and other flat file systems reading into a Relational Database Management System
  • Intra-day reconciliation cycle model
  • End-to-end model for full automation of all reconciliation functions without any human intervention
  • Direct integration to any third-party reconciliation data sources
  • Cloud-based reconciliation services
Value Chain
  • Cheque MICRization and Personalization
  • Cheque Capturing and Truncation technologies
  • Cheque Deposit and Tellering solutions
  • Cheque Clearing Management solutions
  • Automated Cheque Clearing House Solution

 

 

Cheque Processing, Truncation and Clearing

In Nigeria, Precise Financial Systems is at the vanguard of cheque innovations. Besides birthing the cheque truncation revolution in the country that saw the extinction of costly use of reader sorter machines and physical exchange of cheques by banks and the adoption of portable transport scanning technology for cheque truncation and clearing, the company is known for the design and deployment of the award winning National Automated Clearing Systems (NACS) of the country. This is the only national clearing solution for all clearing banks in Nigeria.

The ambition of the company is to provide 360 degrees range of cheque services and solutions.

 

National Payment Switching Technologies

We facilitate the national payment switching technologies through the ability of participating banks to embed Dynamic Link Library (DLL) file at each participating banks’ payment solution which will interface with our Session-less Central Clearing House as a result of a central web based architecture with in-memory data structures transmission capabilities that exchange clearing instrument data 24/7 for an investment with high returns.

 

We currently power the Automated Clearing House (ACH) and the Nigeria Electronic Fund Transfers (NEFT) switch for Nigeria through the Nigeria Interbank Settlement System (NIBSS).

Value Chain
  • facilitate processing of both single and bulk payment transactions, instantly
  • ensure value delivery to both bulk and single transaction beneficiaries, real-time
  • enable value availability for institutional and private payment customers, 24/7
  • eliminate clearing house related payment fraud by 100%
  • offer the citizens a payment solution that can be trusted as cash
Value Chain
  • Multi-channels payment processing
  • Ent-to-end Payments workflow automation
  • Business access to a consolidated view of all internal payment’s activities across multiple payment channels with various banks from a single platform
  • Integration of the payment functions to the core accounting systems of the business

 

Thus, we transform how businesses view and relate with their payment functions.

Multi-Channels Payment Processing and Workflow Automation

Business payment processing systems have experienced great transformation in recent times. Multichannel processing and multi bank accounts management as well as payments workflow automation have evolved immensely.

Digitalization of the payment workflows and processes has greatly impacted and simplified payment experiences for businesses, but what we have not so much seen in the various trends of developments in the industry is the ability of businesses to access a consolidated view of all their internal payments activities across multiple payment channels with various banks from a single platform. This limitation has the potential of constraining companies’ monitoring over its cash flows and liquidity position for optimum decision making.

Core Accounting and Finance Technologies

In answer to the industry’s yearning for a readily customizable core accounting and finance solutions that are multi-sectorial in outlook with a multi-level general ledger system, Precise Financial Systems provides businesses with solutions to a myriad of challenges they face in their daily operations.

Solutions Provided
  • General Ledger management system
  • Inventory management system
  • Procurement management system
  • Sales management system
  • Treasury management system
  • Bond and derivatives trading system
  • Cash management system
  • Banking Teller sub system
  • Loan and Thrift Management System

Integrated Revenue Collection and Management

Our integrated revenue collection and management model is designed to give organizations in a variety of industries complete control over the planning and management of their funds, revenue collection, documentation and reporting.

With access to easy-to-view, real-time information, a business can respond rapidly to changing circumstances, react quickly to customer demands, reduce operating costs through streamlined processes and workflow automation and outpace the competition.

Automated Process

Cost Effective

Easy Monitoring

Concise Report 

our clients