CRDB Bank, one of Tanzania’s leading commercial banks, has gone live with Misys BankFusion Universal Banking. The new functionality available through the BankFusion solution now allows CRDB Bank to improve customer service and bring new products to market more quickly and efficiently.
CRDB provides a wide range of corporate, business and retail services to customers via its network of over 50 branches across Tanzania. The bank is going through a period of growth with plans to open 10 new branches each year, launch a fully automated and integrated banking service and add many new innovative products to its existing portfolio. The bank was running Misys Bankmaster as its core banking system and took the decision to upgrade to BankFusion Universal Banking to underpin these expansion plans and to provide a platform for growth.
The data migration process from Bankmaster to the BankFusion solution was completed with an automated conversion tool to keep risks to a minimum and accelerate the process for the bank, giving CRDB the confidence to migrate with minimal assistance on the changeover weekend.
Dr Charles Kimei, managing director of CRDB Bank, said: “We needed the most advanced solution on the market that provided better risk management and more real-time business intelligence throughout the bank’s operations, from the branch to the back office. We have that in BankFusion Universal Banking. The system allows us to deliver new and improved products to market in a more timely manner, without the need for complex IT projects. We are delighted that Misys has been able to deliver these capabilities which will help us to meet our growth plans and equip us to deal with the unexpected.”
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.