Nib Replaces Core Banking System


Nib Replaces Core Banking System

Nib Bank has changed its core banking system to one dubbed "T24 Version 2020" supplied by Temenos Transact, a banking solutions provider based in Switzerland. The Bank is replacing an older version of the system procured from the same supplier. Nib is undergoing a major revamp of its operations, including the installation of new digital banking systems and a data centre. The whole project is estimated to cost about 350 million Br. The Bank of Abyssinia, the Commercial Bank of Ethiopia (CBE), Cooperative Bank of Oromia and the Development Bank of Ethiopia (DBE) have also upgraded their core banking to Temenos' T24 system. Core systems from Oracle and Temenos dominate the market in Ethiopia. With the proliferation of new banks, industry entrants have also begun procuring systems. Hijra bank, which began operations in September this year, has sourced its system from an interest-free solution provider, Path Solutions. Siinqee Bank has also inked an agreement two weeks ago to procure a core system from Oracle.


Radar

WET MIRAGES

A booming plastic container market around the Saris area bustles with shoppers inspecting the selections. Water supply shortages have plagued the capital as an expanding population size's demand is unmet by the drops moving through the pipes. The Addis Abeba Water & Sewage Authority relies heavily on underground wells and surface water from the Legedadi, Dire and Gefersa dams. With the Authority digging 28 wells to meet the demand shortage, several parts receive water through the taps three...


Radar

LEANING LOSSES

A telephone pole gently rests aside DebreZeit road, tucked into the city's ageing infrastructure. Ethiopia's infrastructure has been under rising assault by robbers who mimic maintenance workers appointed by the state. The ones pared from theft are constantly a victim of subdued synergy between government bureaus. The International Journal of Scientific & Technology Research published a study in 2020 indicating that lack of coordination between agencies was a significant factor in delays, co...


Radar

FESTIVE MEDLEYS

Traditional holiday hymns are sung by a group of men dressed in cultural outfits with decorations made from a horse's mane around the Bole area. The early weeks of September bring with them a panoply of festivities. A soft holiday spirit glistens the streets of Addis Abeba, while roaring hordes of shoppers grappling with inflation rates near 30pc do not grace marketplaces like they used to. The tight clampdown on access to foreign currency by the Ministry of Finance which banned the import of 3...


Back
WhatsApp
Telegram
Email