Shamsuddeen Tijjani
1000717667
QUESTION 2
Upgrading from current system to a system is not easy as it seems. Do you think the project team has thought of every possibility of risks in this project? Why do you think so?
Commercial Bank of Africa (CBA) is upgrading its core banking system to cope with business growth. The Sh323.4 million new core banking system from TEMENOS AG of Switzerland will replace the current iFlex Micro banker system that has been in use since 1995.
With the new generation technology would help the bank face the challenges of a more competitive environment. Use of cutting edge technology is becoming the new frontier for competition among banks as e-banking and other remote solutions take centre stage.
For CBA the new system is expected to address issues of service delivery through multiple channels such as Automated Teller Machines (ATMs), point of sale, electronic and internet banking.
"The business has become much more complex from a channel management perspective, the range of products on offer and geographic spread," The new system is expected to provide the flexibility and sophistication needed to support the enhanced banking services CBA has earmarked for customers.
The new system will be integrated to the existing framework hence minimizing the overall requirement for hardware investment thus cutting initial investment cost that is associated with upgrading such facilities.
Its success move into Tanzania has given it the confidence to engage in regional expansion with Southern Sudan within its radar screen. With these improvements, this indicated that the bank is in the process of expanding into other regions of the country with initial target areas.
Q4)ACCORDING TO THE ARTICLE, THE PROJECT TEAM HAS TAKEN "A VERY COMPETITIVE AND RIGOROUS SYSTEM SELECTION PROCESS AIMED AT INDENTIFYING A NEW CORE BANKING SYSTEM ABLE TO MEET CBA'S GROWTH OBJECTIVE."REFER TO THE EVALUTION PHASE AND ANALYSE WHETHER EACH OBJECTIVE HAS BEEN SUCCESFULLY ACHIEVED AND HOW?
It pairs the most comprehensive and most powerfully flexible business functionality with the most advanced and scalable architecture. This gives it unprecedented power and opportunity to meet the challenges of today and the opportunities of tomorrow.
The design of T24 offers multiple application server support offering horizontal scalability and supporting huge numbers of users with true non-stop resilience. Probably the most innovative aspect of T24, however, is that it will totally eliminate the need to run End Of Day processing.
T24 is available as a Model Bank implementation, with best practice processes built in, or a more tailored implementation for clients preferring differentiation.
•Adoption of newer technology and upgrading existing of core banking solution will be necessary to stay ahead of the game. This is aimed at addressing issues like.
-real time responses to customer enquiries via different channels.
-multi-channel management and coordination
• Used of common or shared system instead of priority system e.g. pesa point ATM network
• Faster deployment of technology to enhance bank operations
-Infrastructure- BCPs, hardware, data storage, integration of business processes and security system.
-Communication- used of voice system, mobile/PDA software, instant messaging.
-trading system-grater used of electronic trading software, equities systems etc
Internal application
• Core banking system-CBA is changing to T24
•PELDEC (credit management system)
•MICR (cheque processing system)
•PRIME & ONLINE (credit& debit system)
•email, intranet internet
External application
•branchless banking
•internet banking-cabinets
•CBA ATMs and partnership with VISA, pesa point & kenswith
•SMS Banking
•electronic bill payment (transfer)
•POS Banking (credit Debit card)
Upgrading from current system to a system is not easy as it seems. Do you think the project team has thought of every possibility of risks in this project? Why do you think so?
Commercial Bank of Africa (CBA) is upgrading its core banking system to cope with business growth. The Sh323.4 million new core banking system from TEMENOS AG of Switzerland will replace the current iFlex Micro banker system that has been in use since 1995.
With the new generation technology would help the bank face the challenges of a more competitive environment. Use of cutting edge technology is becoming the new frontier for competition among banks as e-banking and other remote solutions take centre stage.
For CBA the new system is expected to address issues of service delivery through multiple channels such as Automated Teller Machines (ATMs), point of sale, electronic and internet banking.
"The business has become much more complex from a channel management perspective, the range of products on offer and geographic spread," The new system is expected to provide the flexibility and sophistication needed to support the enhanced banking services CBA has earmarked for customers.
The new system will be integrated to the existing framework hence minimizing the overall requirement for hardware investment thus cutting initial investment cost that is associated with upgrading such facilities.
Its success move into Tanzania has given it the confidence to engage in regional expansion with Southern Sudan within its radar screen. With these improvements, this indicated that the bank is in the process of expanding into other regions of the country with initial target areas.
Q4)ACCORDING TO THE ARTICLE, THE PROJECT TEAM HAS TAKEN "A VERY COMPETITIVE AND RIGOROUS SYSTEM SELECTION PROCESS AIMED AT INDENTIFYING A NEW CORE BANKING SYSTEM ABLE TO MEET CBA'S GROWTH OBJECTIVE."REFER TO THE EVALUTION PHASE AND ANALYSE WHETHER EACH OBJECTIVE HAS BEEN SUCCESFULLY ACHIEVED AND HOW?
It pairs the most comprehensive and most powerfully flexible business functionality with the most advanced and scalable architecture. This gives it unprecedented power and opportunity to meet the challenges of today and the opportunities of tomorrow.
The design of T24 offers multiple application server support offering horizontal scalability and supporting huge numbers of users with true non-stop resilience. Probably the most innovative aspect of T24, however, is that it will totally eliminate the need to run End Of Day processing.
T24 is available as a Model Bank implementation, with best practice processes built in, or a more tailored implementation for clients preferring differentiation.
•Adoption of newer technology and upgrading existing of core banking solution will be necessary to stay ahead of the game. This is aimed at addressing issues like.
-real time responses to customer enquiries via different channels.
-multi-channel management and coordination
• Used of common or shared system instead of priority system e.g. pesa point ATM network
• Faster deployment of technology to enhance bank operations
-Infrastructure- BCPs, hardware, data storage, integration of business processes and security system.
-Communication- used of voice system, mobile/PDA software, instant messaging.
-trading system-grater used of electronic trading software, equities systems etc
Internal application
• Core banking system-CBA is changing to T24
•PELDEC (credit management system)
•MICR (cheque processing system)
•PRIME & ONLINE (credit& debit system)
•email, intranet internet
External application
•branchless banking
•internet banking-cabinets
•CBA ATMs and partnership with VISA, pesa point & kenswith
•SMS Banking
•electronic bill payment (transfer)
•POS Banking (credit Debit card)
