More NewsNational Bank of Malawi Centralises Operations with T24 Model Bank

National Bank of Malawi Centralises Operations with T24 Model Bank

The National Bank of Malawi (NBM) has selected Temenos T24 as its new core banking system to support its retail and corporate banking activities, servicing over 160,000 customers. T24 Model Bank for Universal Banking will enable NBM to centralise its operations on a single, multi-channel and functionally rich platform to improve efficiencies and reduce costs.

T24 will replace Bankmaster from Misys. The bank selected T24 Model Bank for Universal Banking over competing solutions from Oracle Financial Services and Neptune, based on its ability to fully support the bank’s operational, financial and regulatory requirements.

“NBM is committed to providing the best financial services in Malawi through outstanding service, product innovation and sustained earnings growth. We have been on Bankmaster for the past 12 years. Due to increased competition and customer demand for highly innovative products and delivery channels, including structured loans with longer grace periods and Bancassurance, we decided to look for an advanced and modern banking platform which was going to be more efficient in meeting the bank’s requirements,” said George Partridge, chief executive for NBM.

The bank will also implement Temenos ARC (acquire, retain, cross-sell), a suite of front office applications. Temenos’ professional services and the bank’s project team will jointly implement T24 including retail, treasury and trade finance functionality on HP servers with an Oracle database.

Related Articles

Infosys Finacle to power Santander UK’s international cash management system

More News Infosys Finacle to power Santander UK’s international cash management system

3w The Global Treasurer
Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

4m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

5m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

5m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

5m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

5m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

5m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

6m Tasja Botha