digitization

A premier financial institution in Malawi, the client is an old Profinch partner, having worked together in the past. With an increasing popularity of newer technologies-based products in the country and improving economy of the small nation of Malawi, the bank decided to partner again with Profinch for an upgrade because of the quality of the work delivered in the past, which allowed bank to expand its business and acquire more business entities in the country thereby transforming it into one of the preferred banks across the nation.

CHALLENGE ON HAND

The client was looking at extending digital banking services to its customers through deployment of Oracle’s Digital Banking Suite. With its massive scale and reach, it was important for the client to partner with a company with proven expertise, not just with the product but also its implementation in the specific region. The client also required multiple integrations with different systems to offer multiple services apart from internet banking to be offered online through OBDX.
 
 

PROJECT SCOPE

The scope of project was finalized as per below:
Upgrade from older FCDB 12.x to OBDX 18.x for internet banking
Migration from FCDB 12.x to OBDX 18.x for internet banking
Implementation of OBDX 18.x with FCUBS 12.x (non-compatible CBS)
Integration with the country’s domestic instant payments network
Implementation of bill payments through bank’s online banking services
User Acceptance Testing/Quality Assurance
Go Live and Post Go Live Support and handover
 

HIGHLIGHTS

The implementation was successfully completed, and the client digitally capacitated in the stipulated timeline.
01
digitization
OBDX rolled out for more than 500,000 customers of the bank both for individual (retail) and corporate banking
02
digitization
OBDX rolled out for more than 100,000 customers of the bank both for individual (retail) and corporate banking
03
digitization
OBDX was made compatible with existing FCUBS core banking system without compromising on the user experience and features
04
digitization
Better user experience and security achieved, resulting in a higher and steady growth rate in the volume of transactions
05
digitization
Seamless implementation of domestic payments integration and bill payments, inter bank transfers and bill payments, yielding higher customer satisfaction

CONCLUSION

Digital Banking implementation for this ever-growing bank and business partner has always been a challenging task because of constantly pouring in requirements from the bank. The bank has been able to innovate itself as the bank for modern times with a whole array of digital offerings and conveniences for the customers.