Stanbic Bank Kenya is initiating an upgrade of its Temenos core banking system in partnership with Orion Innovation, enhancing its platform from R17 to R23 and transitioning to a more robust Java-based framework. This transition involves significant code adaptations and aims to streamline operations while delivering improved services to customers.
Stanbic Bank Kenya, a prominent financial institution within Standard Bank Group, is set to enhance its core banking capabilities by collaborating with Orion Innovation, the regional implementation partner of Swiss vendor Temenos. This initiative is part of a broader effort to modernize its banking infrastructure, transitioning the bank’s Temenos Transact application from version R17 to the advanced cloud-based platform R23.
Additionally, the bank plans to shift from the outdated proprietary application framework, TAFC, to the modern Java-based framework, TAFJ. This newer framework is esteemed for its scalability, portability, and enhanced performance, which aligns with the bank’s objective of staying competitive in a digitized economy.
The upgrade process is substantial, comprising over 90 integration processes and more than 6,000 local code adaptations. Stanbic Bank Kenya aims to expedite the project timeline by utilizing Orion’s test automation tools and services to streamline these transitions.
Since its initial adoption of Temenos’ core banking technology in 2010, following a tenure with Kindle Banking Systems’ Bankmaster, the bank has positioned itself for continuous evolution. Alex Siboe, the head of technology at Stanbic Bank Kenya, asserts that the upgrade is integral to the bank’s digital transformation strategy. He emphasizes that the initiative will not only enhance operational efficiency but also enable the offering of innovative services to satisfy the changing demands of customers in today’s digital landscape.
In summary, Stanbic Bank Kenya is advancing its core banking infrastructure through a collaboration with Orion Innovation to implement an upgrade to the Temenos system. This modernization aims to improve operational efficiency and customer service in response to evolving digital needs. The bank’s focused approach on upgrading frameworks and leveraging automation tools underscores its commitment to staying competitive in the modern banking environment.
Original Source: www.fintechfutures.com
