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Jamii Bora Bank to invest Sh250m in system upgrade

NEWS
By Margaret Kanini | May 28th 2014 | 2 min read
By Margaret Kanini | May 28th 2014
NEWS

By Margaret Kanini

Kenya: Jamii Bora Bank has invested Sh250 million to upgrade its core banking system (CBS) into a modern integrated technology platform to streamline its operations.

The upgrade will graduate the bank’s customers from the current Bankers Realm (BR) system to the new bankers.net (BR.net), which the bank says is the most competent core banking solution, which has the capability to handle its current and future business ventures.

The new project dubbed project duma is expected to update the business operations by aligning business, operations and technology.

Over 300,000 of the bank’s customers across the country will now experience improved back office operations through automation following the upgrade.

Jamii Bora Chief Executive Officer Samuel Kimani said the bank would also increase its banking channels to meet growing customers’ needs. He reckons that the customers are already able to bank from their mobile phones and very soon they will be able to bank using the Internet.

“Our customers can look forward to exciting opportunities as we gear up to deliver more efficiency, flexibility and new exciting business solutions for them,” Kimani said.

Phillip Muriuki, the bank’s chief operating officer revealed that the bank has completed the seven months’ project circle and expects to go live on October this year.

Speaking to media Tuesday in Nairobi, Muriuki expressed that this move is one of the bank’s strategies to grow its presence and customer base.  “This is a very important project for the bank, which once completed will greatly enhance our ability to compete and grow in the financial market,” said Muriuki.

The bank plans to become EMV-compliant by July this year. It will increase branch network to stregthen its market foothold.

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