Stanbic Bank Kenya Upgrades Core Banking System with Orion Innovation

Stanbic Bank Kenya is upgrading its core banking system with Orion Innovation, enhancing Temenos Transact application from R17 to R23. This will involve transitioning to a Java-based framework, streamlining operations through extensive integrations, and utilizing test automation tools. The upgrade supports the bank’s digital transformation goals, enhancing customer service.

Stanbic Bank Kenya, operating under Standard Bank Group, is set to enhance its core banking system by collaborating with Orion Innovation, Temenos’ regional implementation partner. This upgrade will modernize the bank’s Temenos Transact application from version R17 to the advanced R23 cloud-based platform, improving its digital banking capabilities.

Furthermore, the bank plans to transition from the older proprietary application framework, TAFC, to the newer Java-based framework, TAFJ. This new framework is acknowledged for its increased portability, scalability, and robust performance, which are essential for modern banking operations.

The ambitious project entails over 90 integrations and more than 6,000 local code conversions. To expedite the project timeline, Stanbic Bank Kenya intends to leverage Orion’s test automation tools and services.

Since its initial deployment of Temenos’ core banking technology in 2010, Stanbic Bank Kenya has continuously evolved its services. Alex Siboe, the head of technology at the bank, emphasizes that this upgrade aligns with their digital transformation goals, allowing the institution to improve operational efficiency and offer enhanced services tailored to customers’ evolving needs in the digital era.

In conclusion, Stanbic Bank Kenya’s partnership with Orion Innovation for the Temenos core banking upgrade marks a significant step in the bank’s digital transformation journey. By migrating to the latest cloud-based platform and modern application framework, the bank aims to enhance operational efficiency and adapt to the changing demands of its customers.

Original Source: www.fintechfutures.com