Commercial Bank of Ethiopia (CBE), the country’s largest lender,
is to implement Temenos’ T24 core banking platform, as part of an
overhaul of its IT infrastructure.
In addition, CBE has become the first bank to sign up to
Temenos’ Arc Mobile, the mobile banking system being rolled out by
the Swiss-based vendor following its acquisition in May of FE
Mobile.
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ARC Mobile will offer government owned CBE multi channel mobile
capability to target the unbanked sector, by offering m-banking
services with advanced cash management capabilities including SMS
alerts, interactive SMS and web browser.
The T24 platform will replace seven existing systems, including
CEB’s Misys Bankmaster legacy platform.
Temenos said it had won the CBE deal following an evaluation
process in which T24 was benchmarked against solutions from Oracle
and Infosys.
Temenos and CBE will jointly implement the software in a phased
roll out, with the first stage expected to go live in
2011.
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By GlobalData“Temenos’ software delivers all the functionality and
efficiencies we need to match a world class commercial bank,” said
Ato Bekalu Zeleke, CBE president.
“Being able to replace all systems with T24 will deliver a
single view of the business and customer and therefore provide a
better understanding of our customers to improve services, enable
us to effectively monitor and manage risk and lower our total cost
of ownership.”
CBE has a branch network of 221 branches serving around 2
million customers. At the end of March, CBE had total assets of
around ETB72bn ($5.3bn).
