Stanbic Bank Kenya Upgrades Temenos Core Banking System with Orion Innovation

Stanbic Bank Kenya is upgrading its Temenos core banking system with Orion Innovation, moving from R17 to the R23 cloud-based platform and transitioning to a more efficient Java-based framework, TAFJ. This project involves extensive system integrations and aims to enhance operational performance and customer service.

Stanbic Bank Kenya, a full-service institution under the Standard Bank Group, is set to enhance its Temenos core banking system with assistance from Orion Innovation, a regional implementation partner. This upgrade, announced on May 28, 2024, aims to overhaul the bank’s Temenos Transact application from version R17 to the more advanced R23 cloud-based digital platform.

Moreover, the planned migration will transition the bank from the older proprietary application framework, TAFC, to the more contemporary Java-based framework, TAFJ. The latter is noted for its superior portability, scalability, and performance. This significant modernization project will encompass over 90 integrations and more than 6,000 local code conversions.

Utilizing Orion’s test automation tools is expected to expedite the project timeline. Stanbic Bank Kenya, which initially implemented Temenos technology in 2010 after using Bankmaster, anticipates that this enhancement aligns with its digital transformation goals. Alex Siboe, the head of technology at the bank, emphasizes that the upgrade will improve operational efficiency and expand service offerings to meet the evolving needs of customers in the digital age.

Stanbic Bank Kenya’s collaboration with Orion Innovation marks a pivotal upgrade to its core banking framework, enhancing functionalities and efficiency. The transition to the R23 platform and the adoption of TAFJ reflect the bank’s commitment to digital transformation. With over 90 integrations and a focus on operational efficiency, this initiative is poised to significantly benefit customer service in today’s digital landscape.

Original Source: www.fintechfutures.com