CRDB Bank, a Tanzania-based bank, has upgraded its core banking system from Misys Bankmaster to BankFusion Universal Banking to support its expansion plans and provide a platform for growth.
CRDB provides a range of corporate, business and retail services to customers via its network of over 50 branches across Tanzania. The bank is going through a period of growth with plans to open 10 new branches each year, launch a fully automated and integrated banking service and add many new products to its existing portfolio.
With BankFusion’s interfaces with Misys TI Plus, the bank also enhances its ability to process trade finance transactions and grow its trade business as well as improve its compliance and performance management capabilities. Additionally, CRDB has Misys Opics Plus integrated into its operations, bringing full automation to the bank’s treasury department.
Charles Kimei, managing director of CRDB Bank, said: “We needed the most advanced solution on the market that provided better risk management and more real-time business intelligence throughout the bank’s operations, from the branch to the back office. We have that in BankFusion Universal Banking. The system allows us to deliver new and improved products to market in a more timely manner, without the need for complex IT projects. We are delighted that Misys has been able to deliver these capabilities which will help us to meet our growth plans and equip us to deal with the unexpected.”
Roy Froud, regional director for Middle East and Africa at Misys, said: “Our automated conversion tool speeds up the process of upgrading our customers and makes it almost risk free. Core banking systems need to deliver a combination of power and flexibility to enable customers not only to accommodate growing business volumes but to expand their product lines to meet changing market requirements. CRDB is already benefiting from the solution and is now able to continue its expansion while minimising the cost and without the disruption that normally is associated with new systems development.”