Stanbic Bank Botswana to upgrade its Core Banking System

In an effort to ensure the utmost satisfaction of customers, Stanbic Bank Botswana will soon begin transition into a new Core Banking System, called Finacle. The technologically advanced system will be replacing the current Bank Master System.

The new generation banking system will empower Stanbic Bank to derive optimal value from customer data in order to meet a range of operational, business and strategic objectives. This system guarantees consistency across reporting, and plays a pivotal role in transforming key institutional data into measurable performance indicators. Above all, it will enable Stanbic Bank to add more value to its customers. The new system will also, among other things enable the bank to;

Have a single and an integrated view of our client base, resulting in enhanced service and customer experience.

Differentiate our products and services.

Automate a vast amount of processes and eliminate errors caused by manual intervention.

Significantly reduce the volume of operational reports generated and provide flexibility and achieve greater operational efficiency.

Identify the gaps in our products, quickly replicate and make amendments to them according to our customers’ needs.

Continue to meet the future needs of the bank’s rapidly evolving business model.

Enhance our channel products offering.

Deliver a 360 degree Customer Relationship Management solution.

With a mandate to continually seek innovative ways to add value to clients’ banking experience, Stanbic Bank has already begun the ground-work on core banking.  The transition is expected to take up to 15 months, with the new Core Banking system due to launch in February 2013.

Stanbic Chief Executive, Mr. Leina Gabaraane, said “We are incredibly excited about Core Banking and its potential to deliver a superior banking service. Our customer is always at the fore of our objectives, and this new system will bring them a more streamlined and more enjoyable banking experience. ”

Hailed as one of the most comprehensive and flexible universal banking solutions, this core banking system has been successfully launched in other Standard Bank Group countries such as Namibia and Nigeria. Stanbic Bank Botswana will use these countries’ key learnings to migrate seamlessly into the new system. The countries have also offered their unwavering support to the Botswana team.

“During the transition period, I would like to ask our customers to bear with us in the event that some disruptions do occur.  We will strive to keep them updated on our progress along the way as we work towards making the banking experience simpler and more pleasurable.  Our priority remains to service the needs of our customers and to help them through any challenges they might experience. And, as such we have an established Customer Care Centre to assist during the change over period.” concluded Mr. Gabaraane.

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