Now Reading
SIMO REDE Challenges Banks to Be Flexible

SIMO REDE Challenges Banks to Be Flexible

The Interbank Society of Mozambique, SIMO, argues that there should be greater investment by banks to ensure flexibility in order to avoid congestion in transactions. SIMO celebrated its 13th anniversary this Saturday.

The recurring failures in payment systems are not new. It’s a problem well known to users and recognised by SIMO REDE, which, through its executive director, Raimundo Matwhassa, offered some explanations.

“When a solution comes in there are always some adjustments that have to be made, both on the part of the banks and SIMO itself, and at the moment we believe that the network is stable. It’s technology and we always have to see if the problem is the response time of the institution and how SIMO is handling it, so we have to see that, refine the parameters to have the best response to avoid any congestion.”

In order to minimise failures in payment systems, SIMO argued that all players need to be flexible, especially banks.

“We have to guarantee the investments, guarantee greater collaboration with the banks, which are also the players, because many players are involved in a transaction and response time counts a lot to avoid congestion.”

Still on the sidelines of SIMO Rede’s thirteenth anniversary celebrations, Mathwassa insisted that the network must not have any problems. “Our network can’t have any problems. We have international certifications that can’t fail and any failure of international certification means we can’t operate,” he warned.

The ceremony, which was attended by the Governor of the Bank of Mozambique, was marked by the awarding of the most outstanding employees over the 13 years of SIMO Rede’s existence.

Source: O País

SUBSCRIBE TO GET OUR NEWSLETTERS:

See Also

SUBSCRIBE TO GET OUR NEWSLETTERS:

Scroll To Top

We have detected that you are using AdBlock Plus or other adblocking software which is causing you to not be able to view 360 Mozambique in its entirety.

Please add www.360mozambique.com to your adblocker’s whitelist or disable it by refreshing afterwards so you can view the site.