GijimaAst to implement AFS solution in Namibian multibank initiative

Namclear PTY Ltd, the payment clearing house and duly authorised clearing agent of the Namibian banking industry, commissioned GijimaAst in Namibia, to implement a full day one cheque processing solution in a multibank environment.

The cheque processing solution, under the auspices of Namclear, is a cooperative venture between five Namibian-based banks: Bank of Namibia, Bank Windhoek, First National Bank, Nedbank and Standard Bank.

The project was an implementation of the AFS ImageVision product and the GijimaAst communication engine (GCE). The GCE is an "in-house" produced application that expands on the AFS solution to provide for more flexibility in meeting the unique communications requirements of the participating banks.

This solution provided Namclear and the banks with automation of their paper clearing and settlement environment and ensured an ability to provide economies of scale in the Namibian banking industry.

"We expect to achieve a further reduction in operational and capex expenditure for all the participating banks as a result of this initiative," says Mark Walsh, Project Director: Namibia Clearing and Settlement System Project.

One of the key objectives of the initiative was to provide "same day" clearing and settlement for all paper-based items that reach Namclear and thus reduce or eliminate holdovers and the associated costs. This solution further adds value to customers by reducing the period of un-cleared effects and also improves control over cheques processed in remote areas through the code line clearing mechanism.

This solution puts Namclear and the Namibian banking industry at the forefront of their competitors in Africa, as they have implemented a true multibank solution encompassing the entire Namibian banking industry.

"We completed the implementation and roll-out by the end of September 2005 and Namclear is now proud to provide these critical business services and further value-add to the Namibian banking industry," says Freddy Guiseb, Chief Operations Officer of Namclear Pty Ltd.