African market has historically been seen as a follower in the banking technology space. However the advent of mobile and digital banking has created a new era of services and opportunities for industry players. Considered to be a relatively under developed market, the potential for international suppliers in this market is quite high. The challenges of implementing a core banking solution in a relatively young market could be very different from that of more advanced markets. This is not only because that the demand and requirements are different, but also given that an emerging market has its own flavors and aspirations. This compilation of Core Banking Systems Case Studies focuses on such projects across five different suppliers and banks in Africa.
The case studies contain a thorough analysis of the system conversion process based on the real-life experience of financial institutions around the world, starting with selection, continuing through the implementation phases, to going live with the new system, and analysing the outcome.
The case studies cover in detail the following areas:
- Reasons and drivers for change
- Project profile
- System selection
- Implementation phases
- Challenges and lessons learnt
- Results and advice
1 About this Publication: Core Banking Systems Case Studies: Africa
2 Banco Terra (Mozambique)
3 Ecobank (pan-African)
4 Equity Bank (Kenya)
5 Industrial Development & Workers Bank (Egypt)
6 Union Bank of Nigeria (Nigeria)