digital banking core banking

The client is a prominent bank in Ethiopia with over 300 branches and an enormous customer base. Founded more than 20 years ago, the bank has made notable contributions to shaping the banking landscape in the country. With technology invading and modernizing every industry, it was important for the bank to initiate its own digital transformation to keep pace and continue to offer the best of banking experiences.

Challenge Ahead

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 had taut implementation timelines and required multiple integrations. After several rounds of discussion, Profinch was chosen as the implementation partner.
 
 

Project Scope

The scope of project was finalized as per below
Go-Live and Post Go-Live support and handover
User Acceptance Testing / Quality Assurance
Integration with core banking system of the bank with custom build USSD system
Integration with airline ticket booking system that allows the corporate and retail users to book airline tickets through the bank’s portal, which is provided as customization.
Integration with external biller aggregator to allow bill payments with popular internet based bill payment service providers, which is provided as customization
Implementation of Oracle Banking Digital Experience
 

Highlights

The implementation was successfully completed and the client digitally capacitated in the stipulated timeline.
01
digital banking core banking
Access to mobile apps and wallets for anytime anywhere banking. This has helped the bank gain popularity with a younger customer base.
02
digital banking core banking
Successfully built USSD framework – unique in the region. This has been of immense benefit to the bank.
03
digital banking core banking
Increased customer onboarding and revenue generation by providing additional services like tax payments, mobile top-ups, flight ticket booking and utility bill payments. This has helped the client accrue significant strategic advantage in being able to meet multiple needs of a diverse customer base.
04
digital banking core banking
50,000 transactions per day reached and the number continues to grow.
05
digital banking core banking
OBDX rolled out for over 500,000 customers. This has enabled both retention and further expansion of customer base, and drawing more youngsters to its fold.

Conclusion

Digital enablement project for the banking goliath was a challenging yet seamless implementation. The bank has been able to reposition itself as the bank for modern times with a whole array of digital offerings and conveniences for the customers. With a notable increase in revenue from being able to retain older customers and acquire new ones, the bank is prepared to meet challenges of the future.