Wednesday, June 12, 2024
21.9 C
New York

Stanbic Bank Kenya set for Temenos core banking upgrade with Orion Innovation

  • Company: Stanbic Bank Kenya, part of South Africa’s Standard Bank Group.
  • Project: Upgrading its Temenos core banking system.
  • Partner: Orion Innovation, Temenos’ regional implementation partner.
  • Upgrade Details:
    • Upgrading from Temenos Transact application R17 to R23 cloud-based digital banking platform.
    • Migrating from TAFC (proprietary application framework) to TAFJ (Java-based application framework).
  • Benefits of TAFJ: Portability, scalability, robust performance.
  • Project Scope:
    • Over 90 integrations.
    • More than 6,000 local code conversions.
    • Use of Orion’s test automation tools to accelerate project timeline.
  • Background:
    • Stanbic Bank Kenya has used Temenos core banking tech since 2010.
    • Previously used Kindle Banking Systems’ Bankmaster.
  • Objective: Enhance operational efficiency and offer new services to meet evolving customer needs as part of the bank’s digital transformation journey.
  • Statement: Alex Siboe, head of technology, emphasized the upgrade’s role in fitting into the bank’s digital transformation journey and improving operational efficiency

Hot this week

Banking as a Service: Meaning, Examples, Benefits and Future

The push for open banking has led to a...

What is Fintech?

Fintech: A term used to refer to innovations in...

Best fintech blogs and websites

Fintech (financial technology) has been an interesting part of...

How to buy shares online

Buying shares online in India has come a long...

Is it worth investing in life insurance over 60?

Is it worth investing in life insurance over 60? As...

U.S. Bank taps Greenlight for family-focused money management tools

U.S. Bank Partners with Greenlight to Enhance Financial Literacy...

Finseta offloads non-trading subsidiary Capital Currencies to undisclosed buyer for £150,000

Summary of Finseta's Sale of Capital Currencies:Transaction Overview:...

Peru becomes first South American country to adopt NPCI’s UPI tech

Summary of BCRP and NPCI International Partnership:Partnership Overview:...

Beobank selects Viva to power new corporate payment solutions for SMEs in Belgium

Beobank and Viva Partnership - Key Points:Partnership Objective:...

Siri and Google Assistant look to generative AI for a new lease on life

There’s a lot riding on next week’s WWDC 2024...

Centenary Bank embarks on tech overhaul with Oracle Flexcube core banking system

Centenary Bank Technology Transformation - Key Points:Bank Overview:...

Related Articles

Popular Categories