Kenya Commercial Bank (KCB) has selected integrated core banking systems provider Temenos Group’s T24 in an overhaul of its systems.
The bank will install T24, the company’s modular core banking system, in 131 branches across Kenya, Tanzania and Sudan to support some 675,000 accounts. The system will support the bank’s retail, corporate, wealth management and Islamic banking operations.
“This is the culmination of a long and exhaustive search for a state-of-the-art system,” said Martin Oduor-Otieno, CEO of KCB. “T24 will enable us to offer a faster, more effective service to our customers and deliver new technology-driven products such as Internet banking. It will also provide the technology to support our planned expansion into territories such as Uganda and Rwanda, helping us to grow customer accounts to over two million in the next five years.”