FCMB’s Transaction Banking products ensures that your working capital needs are met and delivered through innovative solutions using local industry knowledge and world-class electronic banking platform available via the internet.

We deliver Cash Management and Trade solutions to corporate, commercial, public sector, financial institutions and small & medium scale enterprises.
FCMB’s extensive product range delivered via a single internet platform offers the following benefits:

•  Effective Cash Flow Management through our liquidity management solutions
•  Efficiency & Control of your working capital
•  Remote Authorization
•  One Channel for Multiple Products
•  Intra Group Transaction Processing
•  Multi Country Capabilities
•  Simplified & End-to-End Reconciliation
•  Multi Bank Capabilities (Transaction Initiation, Reporting & Reconciliation)
  

Cash Management
Are you looking to transform your treasury and cash flow business processes...to achieve better operational efficiencies...and to maximize returns on your organization’s working capital in a more effective manner, FCMB is your partner of choice.

Our Cash Management products include:

•  Account Services – Current Account, High-Yield Account & Time Deposit Accounts
•  Manual Payments / Disbursements through our extensive branch network
•  Collections through branches, teller implants, cash & cheque pick-ups and specialized internet based collections
•  Multi-country, Multi-company & Multi-lingual web based electronic banking platform
•  Comprehensive Information Reporting
•  Automated Reconciliation
•  Receivables solutions
•  Supply chain management & financing
•  Internet based payment services, that supports:
•  High Volume, low value payments through NEFT (NIBSS Electronic Funds Transfers)
•  Low value, High value payents through RTGS (Real Time Gross Settlement)
•  Manager’s Cheques
•  Corporate Cheques
•  Account-to-Account Transfers
•  Cross-border payments
•  Direct debit
•  Liquidity Management, offers greater control over your working capital & supports:
•  Pooling & Cash Concentration (Sweeps - Zero, Target & Range Balance)
•  Intra-day account balancing & funding
•  Management of intra-group/intercompany lending
•  Interest calculations and interest reallocation to sub-accounts from surplus balances

You can benefit from our integrated solutions customized to fit your specific business processes and environment, aimed at helping you reduce costs and maximize returns on your investments. Our cash management products will give you access to detailed statements on all your accounts irrespective of account type and location.

Trade
At FCMB, we understand the cliché “time is money”, therefore, we ensure that turnaround times within your cash conversion cycle exceeds the expectations of your business partners. We will work with you to develop trade solutions that match not only your industry but the unique needs of your business.

Our product suite includes:

•  Working capital financing
•  Trade services & financing for exporters
•  Documentary trade products
•  Bonds & Guarantees
•  Bills for Collections
•  Electronic Trade
•  Online Initiation & Transmission of Letters of Credit
•  Comprehensive Trade Reports such as export bills, import letters of credit history, LCs outstanding, Bills due for payment, trade facilities summary as at date, etc.
•  Tracking of Trade transactions from LC issuance to arrival of shipping documents
•  Channel integration with cash management systems

FCMB supports all aspects of your trade business from issuing, advising, amending, confirming and paying, letters of credit to settling and administering documentary collections. Our electronic trade solutions provide you with online real-time status on your trade transactions, ensuring timely payment to suppliers, with minimal documentation and reduced cost of financing.

For more information on our transaction banking products and services, please contact: Nnenna Okoro Head of Product & Channels Transaction Banking

Head Office 17A Tinubu Street, Lagos Island, Lagos

Gen No: +234 1 2793030; Ext: 2860 D/L: +234 1 4622596; Mob: +234 8033063793 Email:Nnenna.Okoro@firstcitygroup.com