" ITREALMS: WemaBank rides on Finacle 10

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Tuesday, January 10, 2012

WemaBank rides on Finacle 10

Austine Okere, GMD, CWG

Wema Bank plc has made history in becoming the first Nigeria’s bank to ride on Finacle version 10 in record time.

Head, Corporate Affairs and Marketing Communication at the Computer Warehouse Group (CWG), Mrs. Nkechi Okpara said that Wema Bank has successfully deployed the Finacle 10 banking solution from Infosys Ltd in a record time of seven months as against a planned implementation period of nine months.

She also said that this feat follows an earlier proclamation on August 2, 2010, in which both companies entered a partnership that paved the way for Wema Bank to deploy the Finacle Version 10 banking solution to strengthen its retail banking services in over 150 branches in its home market.

“With this achievement, Wema Bank joins the growing list of mega banks worldwide using the Finacle platform and is the First Nigerian Bank to go live on Finacle version 10,” she said.

According to her, Infosys and CWG team has indeed added another feather to their caps by keeping the standard of on time implementation which automatically translates to total cost of ownership and return on investment for the bank and with CWG’s local support on ground; Wema Bank is set to be at par with its peers and counterpart in country and globally.

She quoted the Divisional Head, Information Technology (IT) and Operations, WemaBank, Mr. Olayinka Oni expressed optimism that the Finacle platform would significantly improve branch and e-banking operations whilst also creating added value for customers across the country.

Managing Director of ExpertEdge Software, a subsidiary of CWG, Mr. James Agada, said they intend to continue looking for innovative ways to make business and operations more accessible, efficient, customer-friendly and reliable and they do not intend to relent in that drive.

Agada who managed the deployment said “We are delighted to be a part of this success story and are strongly committed to ensuring that Wema Bank won’t be any different from other Finacle sites in Nigeria.

He explained that Finacle 10 from Infosys is a highly sophisticated and advanced system that has been built with an investment of over 240,000 person’s days and it promises to enable banks transform their multi-country operations through a standard platform and processes.  The new version also brings with it a whole new set of offerings including interest free banking, wealth management and an enhanced mobile banking solution

Wema bank implemented Finacle core banking, consumer e-banking and treasury solutions. This will in effect drive the bank’s objective of enhancing productivity and innovation-led customer experience in all its operations.

Computer Warehouse Group (CWG) provides technology solutions to business problems across multiple sectors of the Nigerian economy and across Africa, even as it has a staff base of over 500 and customer base spread across the blue chips, Computer Warehouse Group has earned a reputation for dedication to customer satisfaction.

Remmy Nweke
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