Wema Bank Plc has deployed the Finacle 10 banking solution from Infosys in a record time of 7 months as against a planned implementation period of 9months.
This feat follows an earlier announcement on August 2, 2010, in which both companies announced a partnership that would see Wema Bank 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.
The Infosys and CWG team has indeed added another feather to their cap 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.
According to the Divisional Head, IT and Operations of Wema: Olayinka Oni, divisional head, IT and operations,Wema Bank is optimistic that the Finacle platform would significantly improve the bank’s branch and e-banking operations whilst also creating added value for customers across Nigeria.
“We intend to continue looking for innovative ways to make our business and operations more accessible, efficient, customer-friendly and reliable and we do not intend to relent in that drive,” he said.
James Agada, managing director of ExpertEdge Software (a CWG company), 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.
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. With a staff base of more than 500 and customer base spread across the blue chips, Computer Warehouse Group has earned a reputation for dedication to customer satisfaction.