Core Banking System For a Leading Bank
Background
Our client is one of the tier-1 financial institutions with the largest footprint in Africa. Operating a centrally managed core banking system, but due to the regulatory requirement needed a cost-effective, robust and secured core banking system for one of the subsidiaries.
- Implementation a light weight, fit for purpose core banking system to support the operations of the subsidiary locally in line with the central bank’s directives.
Key objectives
- Implementation of FinSys Core Banking System
- Data Migration from the centrally managed CBS to FinSys
- Real-time Integration of the FinSys with the centrally managed CBS
- Deliver all operational reports
- Training of the bank’s staff
- Support
Scope of engagement
- FinSys Core Banking built on Apache Fineract Core
- Database - MySQL
- Pentaho reporting tool
- Applications Servers (Tomcat Application Server, Apache Web
Technologies used
- FinSys Core Banking System
- FinSys User Guide / Manual
- FinSys API Specification Document
- Integration Specification Document
Deliverables
Summary
Clients’ Benefits
· The bank was able to meet the regulatory requirements of having a local core banking system
· The bank was able to achieve cost savings by using FinSys CBS