Nomba Financial Services Limited is a fully licensed payment service provider based in Nigeria serving over 300,000 businesses from solo entrepreneurs to large corporations. Nomba provides essential payment solutions, including Point of Sale systems, business banking tools, and invoicing systems, enabling businesses to accept both offline and online payments and scale their operations effectively.
As Nomba’s business grew, so did the complexity of its financial reconciliation process. Handling up to 800,000 transactions per day, their reconciliation team relied on manual processes, using spreadsheets to reconcile numerous bank statements. This method was time-consuming and prone to errors, making it challenging to ensure accuracy. As the business continued to expand, this process became unsustainable, leading to wasted productivity and increased risk of mistakes.
To address these challenges, Nomba implemented Credrails’ platform. By automating the reconciliation of their transactions across multiple bank accounts, Credrails provided Nomba with real-time insights into their financial data, significantly improving both accuracy and speed. Credrails allowed Nomba’s team to shift from manual data entry to focusing on more critical tasks such as resolving reconciliation exceptions and addressing other financial issues in real time.
“We chose Credrails for four main reasons: time-saving, cost-saving, scalability, and real-time issue resolution. With Credrails, reconciliation is faster for us now, and we’ve been able to eliminate human errors and ensure that our work is accurate and sound.”
