Multigate to Ease Cash Management Needs of Companies

December 15, 2022
Multigate cash management needs

By Adedapo Adesanya

Multigate, a licensed financial services platform that provides access to a safe and secure treasury and liquidity management system, has announced its qualification as a SWIFT Lite2 for Business Application Provider and plans to connect corporates to over 8,000 financial institutions both regionally and globally.

Business Post understands that this SWIFT qualification validates Multigate’s business application and provides connectivity for its intended customers by leveraging the SWIFT network.

As a qualified SWIFT Lite 2 Business Application Provider, Multigate seeks to address the treasury/cash management needs of African corporates both regionally and globally.

It also said it is focused on enabling seamless processes for consolidating accounts for local or international payouts from any bank. The SWIFT license will also extend Multigate’s capacity to offer standardised, safe, and secure services to its clients and partners with an overall objective of increasing revenue by efficiently maximising cash flows.

According to Mr Eghosa Nehikhare, Co-Founder and CEO of Multigate, the company’s major goal is to advance the African economy by enabling seamless and instant transactions for customers and by simplifying the complexities of managing multiple banking portals onto a single platform.

“By leveraging the SWIFT network as a qualified connectivity provider, we provide a secure treasury and liquidity management experience through our innovative digital platform governed by the highest regulatory standards.

“This also solidifies our adherence to global information security and market best practices and our compliance with global ISO messaging for our clients. We are optimistic about the value we can offer to large corporates through SWIFT to expand to more international markets in the long term,” he added.

According to Mr Mickael Thomas, Head of Corporates, Middle East, Turkey, and Africa at SWIFT, “Having Multigate qualified as the first L2BA provider in Africa is key for the adoption of SWIFT connectivity by the corporates within Africa. It also allows the Corporates to benefit from the Added Value of SWIFT fully.”

Founded in 2017, Multigate’s services are powered by fully automated and customisable solutions that help improve business efficiency, increase revenue, and deliver value to partners. To qualify as a SWIFT Lite2 for Business Applications provider, the company successfully met all legal, financial, operational, and Business requirements by SWIFT.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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