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Rwanda’s Largest Bank Takes a Major Step Towards Modern Digital Banking

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Luis Monzon
Luis Monzon
Journalist. Reach me at Luis@ITNewsAfrica.com

Temenos, the Swiss banking software company, today announces that Bank of Kigali Plc, Rwanda’s largest bank by assets and market share, has gone live on the Temenos platform effectively taking a major step towards modern digital banking practices.

According to the software firm, replacing its core banking system with Temenos open platform for composable banking allows Bank of Kigali to break free from legacy constraints and accelerate its digital transformation.

Bank of Kigali can now quickly expand its digital channels and engagement to deliver faster, smarter customer experiences, according to Temenos. Renewed through Temenos’ platform, Bank of Kigali aims to double its retail and SME customer base to over one million in the next year through increased automation and new digital services such as payroll loans and enhanced mobile offerings.

The Temenos platform, including Financial Crime Mitigation (FCM) solution, was implemented by Temenos partners Inlaks and MCB Consulting. With integrated core banking and data management capabilities, the bank can deliver a smooth customer experience with controlled risk.

“We are delighted to be live on Temenos, the modern technology platform of choice for banks worldwide. Temenos is crucial to our vision of giving anyone, anywhere, the best customer experience through digital and retaining our position as the leader in the country. We also benefit from a wealth of insight and information on banks worldwide as part of the Temenos Value Benchmark that helps us understand, accelerate, and optimize the business value created by our technology investment,” commented Dr Diane Karusisi, CEO, Bank of Kigali.

“I commend our staff and the support of Temenos, Inlaks and MCBC for their hard work in ensuring this go-live went as planned despite all the constraints brought by COVID-19 in the past two years. We can now propel our product innovation and lead the way in digital financial services while benefiting from increased automation to achieve operational efficiency,” she continued.

“Congratulations to the team at Bank of Kigali. The go-live on Temenos is a major milestone for the bank and its customers. Rwanda has ‘bet big’ on digitization to accelerate growth and reduce poverty with some of the highest rates of coverage for mobile broadband on the continent,” said Jean-Paul Mergeai, President EMEA – APAC, Temenos.

“A modern banking platform is vital to thrive in the world of instant, always-on digital banking and Temenos is proud to support the bank to realize its vision,” he added.

“Bank of Kigali is grooming itself to be a state-of-the-art bank as part of its digital transformation program. As a trusted and long-standing partner of Temenos, we are honoured to have accompanied the bank over the past two years, and particularly on a remote basis during the pandemic, leading to this successful go-live,” said Jean-Michel FĂ©lix, CEO of MCB Consulting.


Edited by Luis Monzon
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