PFS’ Clirec Tops Bobsguide 2019 Global Payments Rankings

L-R: Deputy Managing Director, Philip Ayeni and Managing Director, Akinyele Okeremi, both of Precise Financial Systems (PFS)

 The leading global information resource for the financial technology sector, Bobsguide in its 2019 Global Payment Rankings has voted Precise Financial Systems’ flagship accounts reconciliation solution, Clirec as the world’s best account management solution.

There are 40 categories and each category has three winners with a total of 120 winners. Clirec is the only brand representing the Africa continent in the Bobsguide 2019 Payments Rankings.

The Bobsguide 2019 Payments Rankings is voted for by each firm’s clients and end-users and it represents a diverse list of old and new innovative players.

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“This year we have asked market participants to select who they believe to be the leaders in the payments and paytech industries and votes flooded in across the board. Payments have become a fast moving vehicle, driven by regulation, market forces and technological advances. New players are emerging while incumbents look to reinvent themselves in this evolving ecosystem”, Bobsguide said on its website.

Bobsguide offers a combination of news, analysis, reports, whitepapers, webinars and a comprehensive product directory, listing over 7,000 fintech solutions in areas such as asset management, risk management, payments and transfers, treasury management, wholesale banking and trading.

To emerge overall winner in the “best account management solution” category, Clirec – a suite of fully integrated accounts reconciliation modules with multi-currency and multi-lingual capabilities – outperform the duo of Free Agent and Xero, which returned as second and third place winners respectively.

However, in the best credit card providers’ category, MasterCard came ahead of American Express and MBNA. The winners in the best mobile app category include NatWest, Revolute and Santander.

The winners in the best in-app money management are NatWest, Starlings and HSBC. PFS’ Clirec came top in the best account management solution with Free Agents and Xero coming behind.

Specifically, Free Agent is cloud-based accounting software targeted at small businesses and their accountants. The company was purchased by Royal Bank of Scotland.

Xero is a New Zealand domiciled public technology company, listed on the Australian Stock Exchange. Xero offers a cloud-based accounting software platform for small and medium-sized businesses.

Other categories are the best liquidity management solution, cross-border transaction solution, remittance solution; cash transfer solution, corporate treasury solution and POS solution.

The rest are best wholesale payments solution, ecommerce solution, digital innovation, and crypto payment solution, use of machine learning in payments, use of artificial intelligence in payments and use of DLT in payments among others.