Remita nominated for Product of the 12 months award

Cost platform Remita has been nominated within the ‘Product of the 12 months’ class on the ThisDay 2025 Awards.

 In an announcement, the platform mentioned that the popularity got here on the again of its innovation and excellence within the nation’s monetary sector.

Remita, developed and powered by Remita Cost Providers Restricted, a subsidiary of SystemSpecs Holdings, is without doubt one of the first platforms to supply seamless interbank funds available in the market. With over 20 years of steady innovation, Remita has remained a 100 per cent indigenously developed answer.

The corporate’s Managing Director, DeRemi Atanda, expressed his pleasure concerning the nomination, calling it a mirrored image of the laborious work and dedication of the complete Remita workforce, together with the help of its clients and companions.

 “This recognition affirms our mission to allow everybody, in all places, to do extra by simplifying funds. We’re honoured to be on the forefront of this digital transformation, empowering governments, companies, and people to thrive in an more and more digital world. We’re enthusiastic about what the longer term holds as we proceed to push boundaries and ship even larger worth to the economic system and society at massive,” he mentioned.

Additional within the assertion, the platform mentioned that the nomination displays Remita’s unmatched impression on the native monetary ecosystem.

“By addressing important gaps in Nigeria’s fee infrastructure, together with the absence of a unified, environment friendly interbank fee rail and the shortage of a consolidated digital fee system for companies and governments, Remita has grow to be a key enabler of monetary inclusion and effectivity. The corporate’s sturdy infrastructure connects over 2,500 MDAs, 600 microfinance banks, and a broad community of fintechs, banks, and companies throughout Nigeria, processing transactions totalling greater than N80 trillion yearly. Its position within the clean operations of the Federal Authorities’s Treasury Single Account system has led to month-to-month financial savings of over N45bn, positioning Remita as an indispensable instrument in authorities monetary operations. Because the platform adopted at a nationwide degree to satisfy the fee wants of the federal authorities, it has served because the spine of nationwide funds for greater than a decade.

“Remita’s fee improvements have set new benchmarks within the business. The platform seamlessly connects a number of financial institution accounts, permitting customers to view all account balances and conduct transactions from a single interface. Company customers profit from a digital approval system, eliminating the necessity for paper-based handbook approvals and dashing up the fee course of. Moreover, retailers can gather funds from clients by way of over 10 digital channels, enhancing transaction flexibility. Within the lending sector, Remita continues to allow simpler entry to credit score, leveraging fee knowledge for credit score providers. The platform robotically processes funds repayments straight from borrower accounts, thereby enhancing compensation charges. Moreover, it collects credit score obligations earlier than they attain debtor accounts, decreasing defaults and enhancing monetary safety,” a part of the assertion learn.