Nigeria’s Access Bank has introduced ‘Primus’, an internet banking solution targeted at C-level execs looking to address various payment challenges associated with account management.

The offering is currently available to corporate account holders.

Chief executive officer of the bank, Aigboje Aig-Imoukhuede, has described the product as one of the key initiatives part of the bank’s five-year medium term strategy.

Aig-Imoukhuede said the product was technology-dependent and corporate-focused.

He added that the offering, which is expected to address challenges faced by chief financial officers (CFOs), covers areas such as payment management, receivable management, liquidity management, trade services optimisation, foreign exchange optimisation, cash flow forecasting, investment management, supply chain management as well as reporting and reconciliation.

“We are confident that the product will be first and will remain first and you will see that the choice of the name for this product denotes the fact that our product brings revolution to our customers,” said Aig-Imoukhuede.

"This product does not exist in the Nigerian banking industry today and will make every bank in Nigeria to rise to the occasion,” Aig-Imoukhuede said.