[Kampala, 10th June 2024] – Profinch Solutions is thrilled to announce the successful closure of a significant deal with Centenary Bank in Uganda, marking a monumental milestone for the company in the region. This partnership signifies a breakthrough opportunity for Profinch Solutions in Uganda and stands as the largest deal secured in East Africa to date.
Centenary Bank, Uganda’s leading commercial bank, holds a pivotal position as a major financial services provider dedicated to driving development through various financial avenues. With a focus on empowering rural farmers, small traders, manufacturers, and other key stakeholders, Centenary Bank has emerged as a cornerstone of economic growth in Uganda. Boasting a customer base of 5 million, the bank continues to expand its reach and impact across the nation.
In pursuit of enhancing its banking infrastructure and services, Centenary Bank sought a robust core banking system to streamline its operations and elevate customer experience. After careful consideration and rigorous evaluation, Profinch Solutions emerged as the preferred partner, surpassing Tier 1 competitors such as Temenos and Finacle both technically and during negotiations.
Profinch Solutions offered a comprehensive solution tailored to meet Centenary Bank’s diverse needs, including core banking system requirements, financial crime prevention, and compliance. After extensive negotiations, Profinch Solutions successfully secured a turnkey deal with Centenary Bank to implement the Oracle Flexcube Core Banking System, Oracle Financial Crime & Compliance solutions, and provide two years of managed services support.
“This collaboration underscores our commitment to delivering innovative and tailored solutions that empower financial institutions to thrive in an ever-evolving landscape.” – said Amrit Biswas, SVP, at Profinch Solutions.
The partnership between Profinch Solutions and Centenary Bank exemplifies a shared vision of driving financial inclusion and innovation in Uganda. Together, we are poised to revolutionize the banking experience and catalyze growth across the region.
For media inquiries, please contact us here.