There is strong growth in demand for financial services in Ghana. Firstly, Ghana has a growing middle class demographic - with 46% of Ghanaians now classified as middle class, compared to a continent-wide average of 34.3%[1] - which is demanding increasingly sophisticated products and services. Secondly, with around 50 percent of potential bank customers in urban areas currently unbanked[2], there is a need for financial inclusion and a necessity for multi-channel products, such as mobility and biometric security, which are gaining traction in the region.

The financial institutions chose Temenos for a number of reasons including the scalability of T24 and the ability to rapidly incorporate new features, the need to meet regulatory reporting deadlines and the ease with which it interfaces with other products.

The three T24 implementations are reflective of a broad need within Ghana's banking industry to upgrade and replace its redundant legacy systems. The systems currently in use are typically disparate applications which have not been integrated and which have thereforebeen costly and complex to administer and vulnerable to operational risk.The flexibility of T24 also allows for minimal effort in designing and packaging new products.

Annita Bedzra, Senior Vice President Legal at The Royal Bank commented: "We chose Temenos T24 due to its ease of interfacing with our existing products, as well as the highly-skilled local support teams from Temenos and Global Solutions."

Paul Ekuadzi, IT Executive at NDK commented: "We expect to benefit from Temenos' industry-leading levels of research & development, which allow it to continually improve the functionality and technical performance of the system."

Emmanuel Annoh, Head IT and Banking Operations at City Investment Company, commented: "With T24's flexibility, it takes minimal effort in designing and packaging products to meet the needs of the growing middle class served by our market."

Amrik Tak,Temenos Regional Director of MEA,said:"The combination of redundant legacy systems, a growing middle class, and aggressive regionalisation in Ghana means that banks are more in need than ever of a core banking software solution that has the flexibility and scalability to supply their needs. In addition, as Temenos already has a very strong presence in Africa, our systems benefit from being adapted to the local market, with the local depth and knowledge from Global Solutions adding a significant benefit."

Olufemi Muraino,Global SolutionsDirector - Financial Business commented:"Our customers are our first priority, and we are serving them in the manner they have come to expect from both Global Solutions and Temenos. We are acting together as one unified company, guided by the principle of supporting our customers' investments in Temenos software and Global Solutions local implementation services. All of these implementations and upgrades deliver innovative new ways for customers to better compete in the African banking sector."