The success story of enabling the Central Bank of Liberia with an interoperable financial ecosystem by TPS has passed new successful milestones. The multi- phase delivery has received recognition for the TPS team by the financial regulator of Liberia.
After successful project award for National Electronic Payment Switch (NEPS) by Central Bank of Liberia to TPS, the project has covered major milestones in its successful multi-phase delivery.
With National Electronic Payment Switch (NEPS), CBL targeted national financial ecosystem development with interoperability between banks, telecom and other financial service providers.
Key requirement of CBL was setting up of NEPS encompassing the services of national inter bank ATM/POS shared switch. To build the capacity of small banking institutions, NEPS required multi bank hosting setup with the capability of issuing and acquiring (ATM & POS) for such banks.
TPS takes pride to be entrusted with this prestigious project and has delivered major milestones as part of comprehensive solution. The solution includes in entirety IRIS EFT switch, IRIS multi-institute card management, IRIS multi-institute ATM & POS acquiring system, IRIS switch for telecoms interoperability and UBPS for national bill payment gateway.
Enabled by virtue of this setup, IRIS is designed to interconnect all local banks for interbank ATM and POS transactions and facilitate member banks for issuing cards and connect their ATM & POS machines.
With IRIS deployment in place, local banks are joining the National switch with bank certification in a scheduled prioritized by CBL. TPS commitment to the project has won customer accolades.
TPS is locally represented in the West African region by IPMC which is infrastructure provider of NEPS project.
“On behalf of the CBL team, to express our profound thanks and appreciation to your entire implementation team for the wonderful work you have done thus far and the support you continue to extend the CBL towards the success of this worthy project. I can truly admit that in the midst of many challenges, you have stood by the CBL in ensuing that the project succeed in Liberia. This not only demonstrates your commitment to this process, but also prove your professionalism.” – James B. Wilfred, Head, Payments System- Central Bank of Liberia
