A Case Study on Flexcube Deployment in 30 African Countriesa Case Study on Flexcube Deployment in 30 African Countries
Abstract:
The banking environment has reached such a level of maturity, that it became difficult for any bank to build competitive advantage on products alone. It is now necessary to provide faster, flexible and reliable services, reduce operating cost and time to market for new products, increase the number of service delivery channels and embed change management in the day-to-day business process.
The stiff competition in the financial sector requires an effective Core Banking System that can help the bank innovate, exceed customer expectations, increase efficiency, reduce operational costs and improve customer retention.
Accomplishing these objectives requires a robust technical architecture capable of meeting rigorous banking scalability and availability demands while seamlessly integrating multiple channels and ancillary programs to create an end-to-end process framework.
It is the search for such a system with the features above that led the Ecobank Group in 2006 adopts the use Flexcube Universal Banking System (FCUBS or Flexcube) as its Core Banking Application.
The present case study explains how the Ecobank Group upgraded and centralised its core system across operations in 30 countries, boosting efficiency and saving money along the way.
I. Ecobank’s Profile:
Ecobank is the leading pan-African bank with operations in 33 countries across the continent, more than any other bank in the world. The Group also has an affiliate in Paris and representative offices in Dubai, Johannesburg, London and Luanda.
Ecobank is a full-service bank focused on sub-Saharan Africa. It provides a broad range of products and services to governments, financial institutions, multinationals, international organizations, small and medium enterprises, micro businesses and individuals.
In all the markets in which it operates, Ecobank is recognized as one of the leading banks, providing a full range of wholesale, retail, commercial, investment and transaction banking
The banking environment has reached such a level of maturity, that it became difficult for any bank to build competitive advantage on products alone. It is now necessary to provide faster, flexible and reliable services, reduce operating cost and time to market for new products, increase the number of service delivery channels and embed change management in the day-to-day business process.
The stiff competition in the financial sector requires an effective Core Banking System that can help the bank innovate, exceed customer expectations, increase efficiency, reduce operational costs and improve customer retention.
Accomplishing these objectives requires a robust technical architecture capable of meeting rigorous banking scalability and availability demands while seamlessly integrating multiple channels and ancillary programs to create an end-to-end process framework.
It is the search for such a system with the features above that led the Ecobank Group in 2006 adopts the use Flexcube Universal Banking System (FCUBS or Flexcube) as its Core Banking Application.
The present case study explains how the Ecobank Group upgraded and centralised its core system across operations in 30 countries, boosting efficiency and saving money along the way.
I. Ecobank’s Profile:
Ecobank is the leading pan-African bank with operations in 33 countries across the continent, more than any other bank in the world. The Group also has an affiliate in Paris and representative offices in Dubai, Johannesburg, London and Luanda.
Ecobank is a full-service bank focused on sub-Saharan Africa. It provides a broad range of products and services to governments, financial institutions, multinationals, international organizations, small and medium enterprises, micro businesses and individuals.
In all the markets in which it operates, Ecobank is recognized as one of the leading banks, providing a full range of wholesale, retail, commercial, investment and transaction banking
References: 1. Ecobank Annual Reports, 2007-2011. 2. Ecobank expansion calls for core systems upgrade, By John Beck (The Banker, 01 March 2012). 5. BOLEY ALABI 10361106 6. KELLY KODJOVI 10360836 (0264 44 56 86)