" ITREALMS: UBA Group adopts Finacle 7.0

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Thursday, February 02, 2006

UBA Group adopts Finacle 7.0

IN efforts to consolidate the Information and Communications Technology (ICT) aspect of its integration following mergers and acquisition embarked upon last year, the United Bank for Africa (UBA) Plc, has adopted Finacle version 7.0.

Before now, ITRealms Online gathered that members of the new UBA Group were running on Finacle 6.2, Flexcube and BankMaster at various times among other banking applications in the nation’s software market.

UBA’s recent merger with the Standards Trust Bank (STB) and Chartered Trust Bank (CTB) positions the bank with a network of 428 branches in addition to the headquarters.

Disclosing the decision on Finacle 7.0 was the bank’s IT Integration
Consultant, Mr. Peter Mombaur, while addressing newsmen at the bank’s headquarters in Lagos.

Just as he noted that UBA is ready for a total switch over to Finacle version 7.0 by Monday, February 6, this year, even as the migration began last week Friday, January 27.

“By Monday February 6, the new improved Finacle installation must have been completed,” he asserted.

Explaining guiding principles for UBA Group’s fast integration, he also said that in the merger plans, every staff is equal.

“All staff is being treated equally and best solution are maintained independent of source,” he declared.

Throwing more lights on the bank’s choice of Finacle 7.0, the Project Director for Finacle and director, System Integration at UBA Group, Mr. Peter Iwegbu, said that Finacle emerged slightly over Flexcube during the evaluation conducted by the integration team set up by the management of the institution.

He said they used parameters of total costs, process efficiency, business flexibility, ease and speed of integration and risks.

Finacle 7.0, he noted, offers many new features including improved web architecture, electronic banking (e-banking), in-built treasury, customer relations management (CRM) alerts and audit manager among others.

“All these features enable ease of transaction and offer the customer greater convenience,” Mr. Iwegbu said.He further pointed out that the group decided against migrating to the existing Finacle 6.2 platform that STB was running, but to instead, upgrade to Finacle 7.0 at the same time.

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