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FCMB Looking for Startups as Partners

FCMB, a bank in Nigeria, is looking for partners.

Most SMEs aren’t structured and have poor record keeping practices including payroll management. However, SMEs are beginning to show readiness to comply with operational standards especially for the purposes of strengthening their banking relationships and accessing bank financing & other government-led capital assistance programs. Their staff are also better educated and want to see things like employment letters, pay-slips, pension deductions etc. The current process of salaries payment is neither convenient, nor does it help SMEs keep a history of payments. It isn’t also capable of managing the complications of statutory deductions, payment processing and pay-slip printing and archival. To help solve these issues, FCMB is seeking for an innovative payroll management solution for SMEs and MSMEs

Nigerian bank FCMB has launched a challenge on Passion Incubator's collaborate.ng platform. It is seeking an innovative payroll management solution for SMEs and MSMEs in order to position them for access to bank financing and government-led capital assistance programs. Startups/businesses in Nigeria should apply here.

Source: Techcabal newsletter

Challenge Criteria

  1. Registered business

  2. Must be resident in Nigeria
  3. Must have a structured team

  4. Must have developed a similar project

Apply Here

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