Any business today continues to find that it is critical to monitor its cash flows more diligently and manage its accounts effectively. This ensures timely delivery to its clients and payments to its suppliers. We also appreciate that you as the business owner or manager would prefer to undertake these transactions conveniently, cost effectively and most preferably from the comfort of your office. To help you achieve this, ABC Bank gives you: AfriNet.

AfriNet is a versatile online corporate payment banking solution from ABC Bank. It facilitates highly secured electronic processing of payments covering cash and trade transactions, account reconciliations, remittances, salary processing amongst others. With just the click of your mouse, you can undertake banking transactions from anywhere around the globe through the internet.

AFRInet intends to avail to our clients a product that makes it easier for them to view their respective accounts and initiate transaction payment instructions. It is suited for all clients: Retail, Small and Medium Enterprises (SME's) and mid to large corporates offering them:

• Trade Finance activities.
• Payments and remittances.
• Bulk transfers.
• Salary processing.
• Request for Bankers Cheques.
• Bulk disbursements.
• Account reconciliation.
• Inter account tranfers.
• Statement and cheque book requests.

PRODUCT FEATURES

AfriNet offers multi channel experience to ABC Bank customers and enables delivery of scalable transaction capabilities in an exciting and user friendly fashion. The product is available in three distinct categories offering you a variety to meet your precise business needs that match your growth.  The service levels include:

• • Afrinet Platinum: Account viewing, cash and trade transaction initiation.*
  • Afrinet Gold: Account viewing and cash transaction initiation.*
  • Afrinet Silver: Account viewing and reconciliation capability only.

  
  *Cash Related Transactions  - This include Payroll processing and the Initiation and processing of Electronic Funds Transfer instructions, Telegraphic Transfers, Direct Debits, Local Bankers Cheques, Corporate Cheque, Real Time Gross Settlement (RTGS) and Book Transfers (Inter Account Transfers).
  *Trade Related Transactions - Initiation and processing of Letters of Credit and the Initiation and processing of Letters of Guarantee.

The application is secured by an integrated factor authentication (using biometric, user ID and password) technology. This means that all transactions passed by the client must go through a proof of presence by the application users.

A user ID and password will control access to the system. However, ability to approve transactions will only be enabled through a user Id and password in conjunction with an independent biometric security card. Further, the system will use Secure Socket Layer (SSL) security and VeriSign security.

To your advantage , all financial and non-financial transactions undergo a well structured approval workflow in the application both on the customer side and the bank side.