Bank of Kigali Plc has selected Temenos, the banking software company, to power its digital transformation initiatives to support regional growth plans and materialise financial inclusion objectives
With Temenos packaged and upgradeable banking software, Bank of Kigali Plc is expected to gain business agility and dramatically lower the cost of deployment. The bank will be able to deliver innovative products and services specifically to underserved segments of the economy and major population demographics like the youth and the unbanked.
Bank of Kigali Plc, with the plan to grow the number of customers to one million by 2021, is transforming its legacy IT systems using Temenos T24 Transact, the next generation core banking software product, including the advanced analytics, reporting, risk and compliance modules.
The bank will leverage Temenos’ banking software experience and commitment to invest 20 per cent of revenues into research and development every year, which is the highest in the industry.
Dr Diane Karusisi, CEO of Bank of Kigali Plc, said, “Temenos' cloud-native and cloud-agnostic banking software will help reduce deployment costs and drive simplicity and efficiency of operations. The new open digital banking platform will enable us to gain a deeper understanding of our customers’ needs and allow us to provide the best-in-class customer experience.”
With Temenos' packaged functionality and advanced cloud technology, Bank of Kigali Plc aims to reduce time to market and cost. At the same time, the bank will be able to expand its digital customer base and promote financial inclusion both in Rwanda and throughout the region.