The Central Bank of Botswana has gone live with the T24 core banking systems from Swiss vendor Temenos, replacing an incumbent Bankmaster package from Misys.
The Temenos software has been implemented by the bank across three sites, including head office, and integrated with other applications to provide customised reporting, transaction back-dating and back-up procedures.
Julius Ghanie, IT director, Bank of Botswana, says Temenos won the business because it has proven experience in the central banking market in countries such as Swaziland, Zimbabwe, Zambia, and Pakistan.
"In addition, Temenos T24 is able to increase our overall efficiency, particularly by eliminating the need to capture information manually into different systems."
The core T24 functionality has been supplemented with a range of modular components designed to automate funds transfer and standing orders, open financial server, teller, document management, and securities and portfolio management. In total some 5000 accounts will use T24, which was implemented using IBM servers and jBASE database software.
Andreas Andreades, CEO, Temenos, comments: "Increasingly, local banks are adopting modern, integrated technology to replace legacy systems that no longer meet the demands of today’s banking. By combining this with their regional expertise, they have a distinct advantage over the global banks, which often have fragmented and out-dated technology that makes it difficult to compete at a local level."