NDIC | Failed Banks Management Platform
Delivery of a Failed Banks Management platform, underpinning 3 of the 4 mandates of the NDIC. Ensuring failed financial institutions are resolved in a timely and efficient manner including settling liabilities to creditors and sale of company assets.
Assisted the NDIC to implement and configure a new failed bank depositors management platform, upon which millions of depositors' records are held and managed in relation to a failed or failing financial institution. Typical records processed includes personal information, contact details, banking transactions, and payment history.
The platform supports liquidation procedures and workflows especially those involved in the orderly and efficient closure of the failed institutions; with minimum disruption to the banking system of Nigeria. It particularly underpins how cost-effective realisation of assets and settlement of claims to depositors, creditors and where possible, shareholders are realised in an efficient and value maximisation framework.
We assisted NDIC to develop a comprehensive solution towards protecting depositors; fostering monetary stability; promoting an effective and efficient payment system as well as debt recovery and prosecution management services
6 months phased delivery cycle.