To strengthen its retail banking services in its over 130 branches across Nigeria, Wema Bank Plc, Nigeria’s most resilient and longest surviving indigenous financial institution, has begun the deployment of Finacle™ banking software from Infosys Limited.
According to a statement, Infosys will implement Finacle™ core banking, consumer e-banking and treasury solutions at Wema Bank. This will in effect drive the bank’s objective of enhancing productivity and innovation-led customer experience in all its operations. Leveraging Finacle™, the statement noted that Wema Bank will be empowered to create a differentiated customer experience through personalised offerings, bundled products and an enriched segment-specific portfolio, adding that the solution’s proven scalability and support for true 24X7 multi-channel transactions added to its keen understanding of the banking context in West Africa will power the bank’s ambitious growth plans.
Computer Warehouse Group Nigeria, the local business partner of Infosys for over a decade, will play an integral role in the implementation and go-live support of Finacle solutions at the financial institution.
According to Divisional Head – Information Technology & Operations, Wema Bank, Olayinka Oni, “Our clients are our number one priority, and it is essential that we possess the best technology to meet their needs effectively. We are confident that once Finacle™ is implemented, Wema Bank will be able to create value adding customer experience through innovative products, a unified customer view and seamless integration across channels. We are delighted to partner with Finacle™ and Infosys and look forward to a successful transformation journey.”
Vice-President & Global Head, Business Development, Client Engagements and Alliances - Finacle, Infosys Ltd, Sanat Rao said, “We are delighted to partner with Wema Bank and are strongly committed to ensuring it makes rapid progress on its path to achieving improved customer-centricity.
Rao informed that Finacle has 25 customer banks in Africa with 11 of them in Nigeria, adding that West Africa continues to be a strategically important market for Finacle and as the preferred banking technology providers in Africa we have consistently delivered solutions that help banks hurdle challenges typical of the region.
Established in 1945, Wema Bank, Nigeria’s most resilient and longest surviving indigenous bank is steadily repositioning itself to become a model for relationship banking in Nigeria. With the appointment of a new Management team in 2009, the Bank has witnessed a 200% increase in its profits through a strategic focus on good corporate governance, providing exceptional value and a re-visioning exercise.