Stanbic Bank Kenya is upgrading its Temenos core banking technology in collaboration with Orion Innovation. This modernization includes moving to the R23 cloud platform and the TAFJ application framework. The project aims to streamline over 90 integrations and 6,000 code conversions, enhancing operational efficiency and service offerings for customers.
Stanbic Bank Kenya, operating under Standard Bank Group, is set to upgrade its core banking system with the support of Orion Innovation, a regional implementation partner of Temenos, which provides the core banking technology. This modernization effort will transition the bank’s Temenos Transact application from the older R17 version to the advanced R23 cloud-based platform.
Additionally, the bank will shift from the older proprietary application framework, TAFC, to the modern Java-based TAFJ framework. The latter is acknowledged for its portability, scalability, and enhanced performance. The project will entail more than 90 integrations and over 6,000 local code conversions to achieve a smoother transition.
To expedite the upgrade process, Stanbic Bank Kenya intends to utilize Orion’s test automation tools and services. Since first implementing Temenos’s core banking technology in 2010, the bank has continuously evolved from its previous system, Kindle Banking Systems’ Bankmaster.
Alex Siboe, head of technology at Stanbic Bank Kenya, stated that the upgrade aligns with the bank’s digital transformation strategy, allowing for improved operational efficiency and the provision of new services tailored to meet customer demands in the fast-evolving digital landscape.
In conclusion, Stanbic Bank Kenya’s upgrade of its Temenos core banking system, in partnership with Orion Innovation, reflects a significant step towards modernizing its operational capabilities. The transition to the R23 cloud-based platform and TAFJ framework signifies the bank’s commitment to enhancing service delivery and efficiency, thereby aligning with its digital transformation objectives.
Original Source: www.fintechfutures.com
