Nigerian fintech startups have been invited to apply to develop a payroll management solution for SMEs to be implemented by First City Monument Bank (FCMB).
Disrupt Africa reported in March Nigeria’s Passion Incubator had partnered the Swedish Embassy to launch Collaborate, a platform that allows corporates to present challenges, and startups already building solutions along those lines to help solve them.
The Lagos-based FCMB is using the platform to find a startup to build an innovative payroll management solution for SMEs, which should be able to do things like compute salaries, make deductions, index payments, retrieve and queue customer complaints, and generate pay-slips.
With the bank saying most SMEs are not structured and have poor record keeping practices, including payroll management, it wants to work with a startup to develop a relevant solution. Applicants must be registered Nigerian businesses with a structured team and experience of developing a similar project.
Applications are open here until Friday, November 16.