Vanguard
19 November 2008
Union Homes Plc, the biggest primary mortgage institution in Nigeria and a subsidiary of Union Bank Plc has selected Finacle UBS to power its continuing growth and expansion plans.
Union Homes provides mortgage finance services, builds estates, funds estate developers and estate development, supports investors in housing schemes even at state government levels, and purchases houses and estates for resale to corporate and private customers within and outside Nigeria.
Its mortgage loan portfolio has continued to grow, and its profile of intermediation services, one of the best in Nigeria, has posted Union Homes as flag bearer of Nigeria's mortgage sector. Evidences abound mostly in Lagos, Abuja, Umuahia and Uyo. In each metropolis, the company's well-focused strategic planning and investments have housed hundreds of families without any rigours associated with urban housing.
Finacle UBS is the award winning core banking software from Infosys Technologies. Finacle UBS is currently being used by several mega banks in Nigeria including First Bank, UBA, Oceanic Bank, FCMB, Fidelity, FinBank and SpringBank. Finacle UBS is renowned worldwide for its stability, robustness and flexibility. It is perharps the only core banking software in Nigeria developed using SEI-CMM level 5 certified processes and also COBIT certified for control and security.
Local technical support provided by the Computer Warehouse Group's software subsidiary, ExpertEdge Software, has helped tremendously in localizing Finacle for the Nigerian environment and assured users of effective support available on a 24x7 basis.
Finacle UBS is arguably the best supported core banking application in Nigeria with close to fifty trained consultants working for ExpertEdge alone. Availability of effective local support is a critical success factor for any core banking application and an important decision point when choosing a core banking application as recommended by the Gartner Group.
Tim Oviawe the Head Information Technology confirmed the availability of local competence as one of the most significant reasons why they chose Finacle UBS for Union Homes. The pedigree of implementations delivered on time and within budget and the flexibility of the application were also major factors.
These become more pungent given the experience of other banks who had made the mistake of choosing other core banking applications in Nigeria. Most these banks have had delayed implementations and are currently facing significant support challenges.
Emmanuel Ene, the AGM ExpertEdge added that his company has made it a key policy to invest in providing local expertise to support internationally renowned products like Finacle, Actimize, SAP and Oracle for which ExpertEdge are local partners. This local expertise, he explains, reduces the total cost of ownership for her customers and helps them maximize their returns on investment in information technology.
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