22 October 2017
Register now

Kenya Commercial Bank selects Temenos T24 for banking systems overhaul

14 May 2007  |  4397 views  |  0 Temenos

Kenya Commercial Bank (KCB) is implementing Temenos's modular core banking platform, T24, to support its wealth management unit and retail, corporate and Islamic banking operations.

The bank will install T24 in 131 branches across Kenya, Tanzania and Sudan to support some 675,000 accounts.

The vendor says KCB selected T24 following an initial evaluation of 26 providers and a shortlist that included i-flex, Misys and Tata Consultancy Services (TCS). T24 will replace the TC3 core banking system from CMC, which the bank has used for over 10 years, along with a number of ancillary systems.

The Temenos platform will be installed using an Oracle database and the bank will also implement Arc, the vendor's front office software product for customer retention and cross-channel selling.

KCB will also deploy the T24 Model Bank, which includes pre-configured products and processes, in a bid to achieve a reduced implementation time of 12 months for its retail division.

Commenting on the move, Martin Oduor-Otieno, CEO, KCB, comments: "T24 will enable us to offer a faster, more effective service to our customers and deliver new technology-driven products such as Internet banking. It will also provide the technology to support our planned expansion into territories such as Uganda and Rwanda, helping us to grow customer accounts to over two million in the next five years."

Andreas Andreades, CEO, Temenos, says the vendor is establishing a regional office in Nairobi to support KCB and new clients in the region.

"Eastern and Central Africa is experiencing a resurgence of core banking replacement opportunities and our new office is also evidence of our commitment to this important market," he adds.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

SMBC moves to Temenos T24 for Asia Pacific business

SMBC moves to Temenos T24 for Asia Pacific business

17 April 2007  |  4173 views  |  0 comments
Temenos signs BankMuscat to T24

Temenos signs BankMuscat to T24

03 April 2007  |  5702 views  |  0 comments
Temenos targets Misys' Midas customers with T24 Model Bank

Temenos targets Misys' Midas customers with T24 Model Bank

27 March 2007  |  8557 views  |  0 comments
Temenos reports largest-ever deal with Deutsche Bank

Temenos reports largest-ever deal with Deutsche Bank

09 January 2007  |  11096 views  |  0 comments
SIB selects Temenos T24 core banking package

SIB selects Temenos T24 core banking package

18 September 2006  |  5029 views  |  0 comments
Al Salam Bank selects Temenos T24 for Islamic banking

Al Salam Bank selects Temenos T24 for Islamic banking

06 September 2006  |  6309 views  |  0 comments

Related company news

 

Related company information

Temenos – The Banking Software Company

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.innotribe.comvisit www.vasco.com

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
11413 views comments | 17 tweets | 24 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
11240 views comments | 22 tweets | 26 linkedin
satelliteGates Foundation backs Ripple collaboratio...
9282 views comments | 13 tweets | 10 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
8348 views comments | 10 tweets | 22 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8327 views comments | 9 tweets | 18 linkedin

Featured job

Find your next job