Kenya Commercial Bank (KCB), a bank in East and Central Africa, implements TEMENOS T24 (T24). The bank went live with T24 in 145 branches across Kenya, supporting approximately 675,000 accounts.
This is the first implementation phase of T24. Further phased roll outs of the system are expected in 2009 to support KCB’s planned expansion to include a further 75 branches across East Africa, helping to grow customer accounts to over two million in the next two years.
Temenos’ robust implementation methodology enables KCB to follow a “big bang” approach, which drastically slashes transitional architecture and infrastructure costs. The total project duration from contract signing to go live was 18 months, despite the challenging political conditions in the country during the last year.
The bank opted for T24 Model Bank for Universal Banking, which includes pre-configured products and best practice processes to reduce implementation time and costs, minimise customisation and lower theproject risk. This will significantly improve business efficiencies while enhancing its competitive position across the region. The bank will also roll out ARC Internet Banking (ARC IB), Temenos’ front office package during 2009.
A regional Temenos office was established in Nairobi to ensure that the bank had continual support throughout the project.
“With T24, we can significantly improve our customer service approach to withstand increasing competition across the region from both local players and new market entrants,” says Martin Oduor-Otieno, CEO, KCB. “T24 will set us in good stead to achieve our growth objectives across the East and Central African region.”
“We are fully confident that T24 will help the bank drive its expansion plans forward during a difficult time for the industry both regionally and globally,” says Andreas Andreades, CEO, Temenos. “Eastern and Central Africa is a growing market and we are committed to strengthening our presence in this region moving forward into 2009.”
L.D.