Standard Bank Namibia Replaces Core with Finacle

Standard Bank Namibia has launched Finacle, a new core banking system, which it hopes will improve the quality of its service offering to customers. The migration to the new system, which began in 2009 and was completed last month, is now also in line with the regulatory requirements of the Bank of Namibia (BON).

Chairperson of the Standard Bank Namibia board, Herbert Maier, said the new system will empower the group to derive optimal value from data at its disposal and meet a whole range of operational, business and strategic objectives. He said the new system was part of the group’s objectives continuously seeking innovative ways that ensure it provides affordable services that offers more value to our loyal customers.

“The easy-to use system provides decision makers an anytime-anywhere unified view of the bank’s structured operational data. It 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,” he said.

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