Inlaks, has announced the successful completion of a technical upgrade of T24 Transact from release 14 to release 20 for the Bank of Zambia.
The project includes the technical upgrade of the system; analysis and adoption of the bank’s local developments to R20 requirements; testing and maintaining the existing features to a new system. The upgrade is expected to enhance product delivery at the Bank of Zambia and improve its customers’ experience while quickening decision making and approvals especially in response to the challenges posed by the COVID-19 pandemic.
With the core banking solution, the Bank of Zambia is poised to experience a dynamic shift in operational excellence as the solution is known to enhance increased flexibility and productivity, resulting in improved customer service delivery.
Speaking at the Inlaks headquarters in Lagos, Nigeria, the CEO, Inlaks African Operations, Kyari Bukar, said: “We are proud to conduct the T24 upgrade for the Bank of Zambia (BOZ), the implementation will help the financial institution with newer functionalities to keep up with the growing demands of the South-Central African financial market.
Femi Muraino, Executive Director, Inlaks Financial Business Unit, commended the Bank of Zambia team on the implementation noting that, Inlaks remains whole-heartedly committed to achieving the vision to be the foremost ICT provider in Sub-Saharan Africa and will continually support the growth and digital advancement of institutions in the African region.
Commending the team, the Deputy Governor – Administration of the Bank of Zambia, Ms Rekha Muhanga Chifuwe Mhango noted that the choice of Inlaks for its technical upgrade was because of its continuous commitment to foster innovation and while remaining at the forefront of technology. “This, he continued resonates with our vision and values. We are proud to be associated with Inlaks on this exciting transformation project”.
Temenos T24 Transact is a real-time core banking solution with exceptional functionality, offering services from the front through to the back office for Banks and Financial institutions. The core banking solution ensures ease of integration to third party applications.