National Bank will on Saturday upgrade its core banking system to Fusion Banking Essence [FBE], the fifth and latest version of BankFusion Universal Banking (BFUB) system.
The software is provided by Finastra Limited, a diversified global financial provider that was created out of the merger between Misys International & D+H. Its integrated suite of components spans core processing, product factory, analytics, digital channels and branch applications.
Effectively, all the National Bank branches across the country will remain closed for the upgrade. However, all the Bank’s alternate channels including its mobile platform NatMobile, ATMS, agents and merchant outlets will be available for service.
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National Bank Managing Director and Chief Executive Officer Wilfred Musau said the upgrade will enhance the technology platform in line with the bank’s focus to improve customer experience and provide a wider range of product offering.
“The Core Banking System upgrade will enable the bank to further increase its operational efficiency and improve its compliance and risk management functionalities. It will also provide the Bank an advanced banking platform to position itself for enhanced digital banking services for the customers,” added Musau.
The new outfit is expected to offer enhanced performance, flexibility and real-time interfaces.
“FusionBanking Essence also offers an Islamic Banking module that is seamlessly integrated to the core banking system while at the same time adhering to Shariah compliant practices.” Musau said.
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