Namibian bank deploys Infosys core banking

BANGALORE, INDIA: Namibia's Standard Bank has deployed Indian IT bellwether Infosys Ltd's core banking product Finacle to enhance its service offering to customers.

"The new system will empower the bank to derive optimal value from data and meet a range of operational, business and strategic objectives," bank chairman Herbert Maier said in a statement released here late on Tuesday.

The migration to the new system that began in 2009 meets the regulatory requirements of the Bank of Namibia.

Finacle's easy-to use software provides decision-makers an anytime-anywhere unified view of the bank's structured operational data.

"Finacle also guarantees high fidelity and consistency across reporting, playing a pivotal in transforming key institutional data into measurable performance indicators. This will enable us to pass more value to our loyal customers," Maier said.

With an integrated single view of a customer, the bank will be able to understand its customer's behaviours and needs to provide them with better service.

"The new system will enable us to identify gaps in our products, allow us to quickly replicate and make amendments to the products as required by our customer needs," Maier asserted.

Customer funds and customer information remained safe and protected during the implementation process.

"Our decade-long experience of working with banks in Africa and in accelerating innovation for our client's positions us as the right partner for Standard Bank to help them sustain their regional market leadership," Infosys' associate vice-president for Europe, Middle East and Africa (EMEA)Amit Dua said in the statement.

With 154 customers across 75 countries, Finacle services 15 percent of the global banked population.