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Bank Fast Tracks Digital Roadmap with Fiorano; Seamlessly Integrates its Finacle CBS
Bank Fast Tracks Digital Roadmap with Fiorano; Seamlessly Integrates its Finacle CBS
February 14, 2018, Singapore: - Fiorano Software announced today that I&M Bank, Kenya has chosen the Fiorano platform to achieve digital transformation to reduce time-to-market while integrating its Finacle, Core Banking System. I&M Bank need for digital transformation arose from its new strategy aimed at giving each market segment a customized proposition to complement their lifestyle and financial requirements. The use of multiple point-to-point connections was impeding this goal due to its rigidity, high maintenance and management costs.
Fiorano exposes I&M services for multiple peripheral systems consumption. Service consuming channels include Agency Banking, Mobile Banking, Investment Banking, ATM Management and Kenya Banking Authority's Inter-Bank Transfer Switch, KITS. Fiorano architecture allows seamless integration of services with channel applications and message queuing takes care of guaranteed data delivery with message logging and tracking systems. I&M Bank can now offer core banking operations like balance enquiries, fund transfer, withdrawals, deposits and statement generation at bank. Fiorano has enabled I&M to facilitate services offered by the Kenya Revenue Authority (KRA) and Integrated Population Registration Systems (IPRS).
February 14, 2018, Singapore: - Fiorano Software announced today that I&M Bank, Kenya has chosen the Fiorano platform to achieve digital transformation to reduce time-to-market while integrating its Finacle, Core Banking System. I&M Bank need for digital transformation arose from its new strategy aimed at giving each market segment a customized proposition to complement their lifestyle and financial requirements. The use of multiple point-to-point connections was impeding this goal due to its rigidity, high maintenance and management costs.
Fiorano exposes I&M services for multiple peripheral systems consumption. Service consuming channels include Agency Banking, Mobile Banking, Investment Banking, ATM Management and Kenya Banking Authority's Inter-Bank Transfer Switch, KITS. Fiorano architecture allows seamless integration of services with channel applications and message queuing takes care of guaranteed data delivery with message logging and tracking systems. I&M Bank can now offer core banking operations like balance enquiries, fund transfer, withdrawals, deposits and statement generation at bank. Fiorano has enabled I&M to facilitate services offered by the Kenya Revenue Authority (KRA) and Integrated Population Registration Systems (IPRS).
Rohit Gupta, Group CIO, I&M Bank
Rohit Gupta, Group CIO, I&M Bank
"With Fiorano, I&M bank transformed its business processes enabling it to quickly rollout multiple banking services to achieve competitive differentiation and provide positive customer experiences in the emerging East African Market.""
S.S. Tarakaram, Director Business Development, Fiorano Software
"With Fiorano, I&M bank transformed its business processes enabling it to quickly rollout multiple banking services to achieve competitive differentiation and provide positive customer experiences in the emerging East African Market."
S.S. Tarakaram, Director Business Development, Fiorano Software
With total assets exceeding US$1.57 billion, I&M Bank is ranked as one of the top 10 banks in Kenya. In February 2018, the bank launched a corporate strategy dubbed "Imara", for new customer value propositions for its business segment. Kihara Maina, CEO said that the move was in line with its aspiration - "To become a banking powerhouse in East Africa for middle to large businesses and premium clients.”
With total assets exceeding US$1.57 billion, I&M Bank is ranked as one of the top 10 banks in Kenya. In February 2018, the bank launched a corporate strategy dubbed "Imara", for new customer value propositions for its business segment. Kihara Maina, CEO said that the move was in line with its aspiration - "To become a banking powerhouse in East Africa for middle to large businesses and premium clients.”
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