The bank claims that Finacle is a modular, flexible and parameter-driven banking system which provides both scalability and cost-effectiveness to the consumers.
Standard Bank Namibia Chairperson Herbert Maier said the new core banking system came a long way as a migration from the South African banking system which the bank had been using for the past 30 years.
"Finacle was chosen as the new core banking system platform for not only Namibia but for Standard Bank Africa, ensuring a seamless alignment to the Standard Bank channels and products," Maier said.
"The ability of the new system will enable us to identify the gaps in our products and allow us to quickly replicate and make amendments to the products in order to address our customer needs."
The new system enables faster and more efficient processes, improves product time to market and enables better product management to meet customer needs.
Finacle from Infosys in India joins hands with banks to accelerate their innovation agenda, enabling them to differentiate their products and service, enhance customer experience and achieve greater operational efficiency.
Finacle solutions address the core banking, e-banking, Islamic banking, treasury, wealth management and CRM requirements of retail, corporate and universal banks worldwide.
