Stanbic Bank Set To Upgrade Its Core Banking System

by Business Watch Team

To provide an optimized banking experience, Stanbic Bank has begun upgrading its core banking system called Temenos 24 (T24). The upgraded system will move the Bank to the latest version. The upgrade process will be done in phases and will be complete by the end of the year.

Through this upgrade, Stanbic will be better equipped for continued agility and innovation, which will translate to a superior banking experience for clients, marked by high-performance features and services.

Dr. Joshua Oigara, Stanbic Bank Kenya and South Sudan Chief Executive said, ‘’ Technology and innovation are central to our continued growth in a highly digitized and complex banking environment. This upgrade adds to our technological capabilities and enables us to better serve our clients both on a local and global scale. We are proud to partner with Orion, and to leverage its strong background and expertise in driving system modernization.’’

Commenting on this, Stanbic Bank Kenya Head of Technology, Alex Siboe, said, ‘’ Transforming customer experience through technology is at the cornerstone of the bank’s strategy.  Aligned with our objective of delivering exceptional client experiences and superior value, we consistently work towards adopting the right technologies to drive efficiency and satisfaction for our clients. This upgrade fits into our digital transformation journey and will help us provide a seamless and superior banking experience to our customers. Furthermore, through this upgrade, we will not only enhance our operational efficiency but also offer innovative services to our customers, meeting their evolving needs in today’s digital era.”

To deliver this great milestone, the Bank has partnered with Orion Innovation Trading as Banktech Software Services Ltd, which is a US-based technology company specializing in digital transformative business solutions rooted in digital strategy, experience design, and engineering.

“Our team continues to make inroads into the African Financial Services market as we help fuel digital innovation in the region,” says Anoop Gala, Orion’s Global Head of Financial Services. “The deal is another testament to our commitment to fostering growth and modernization in Africa’s financial sector.”

Suchen Janjale, Orion’s Head of Financial Services in Europe, said, “Our comprehensive offerings around Temenos, coupled with our proven track record in efficient and successful upgrades and integrations, were instrumental in Stanbic’s decision to choose Orion as its trusted partner.

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