Orion Innovation, renowned for its digital transformation and product development services, has announced a strategic partnership with Stanbic Bank Kenya.
This collaboration aims to overhaul Stanbic Bank’s core banking system, integrating Temenos’ cloud-based digital banking platform to deliver superior customer experiences and cutting-edge digital solutions.
The project’s servicing and delivery will be centralised at Orion’s Chennai centre in India. This hub, known for its state-of-the-art Innovation Lab, will handle the massive data integration and management required for Stanbic Bank Kenya. Orion’s Chennai team has developed bespoke solutions that seamlessly mesh with Temenos’ offerings, ensuring smooth and efficient operations.
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Chosen for their proven track record and expertise, Orion will upgrade Stanbic Bank Kenya’s Transact application from R17 to R23 and transition from TAFC to the TAFJ standard. This extensive project involves over 90 system integrations and over 6,000 code conversions. Stanbic Bank will leverage Orion’s top-tier Test Automation tools and services to streamline the process, ensuring timely and accurate implementation.
Driving Innovation in Financial Services
This alliance underscores Orion’s leading role in revolutionising the financial services industry in the Middle East and Africa (MEA) region. Anoop Gala, Orion’s Global Head of Financial Services, expressed excitement about the partnership, stating, “We are thrilled to collaborate with Stanbic Bank Kenya on this modernisation journey. Our team is dedicated to fostering digital innovation in the African financial market, ensuring compliance, and accelerating project timelines with our advanced tools.”
Suchen Janjale, Orion’s Head of Financial Services in Europe, echoed this sentiment, highlighting that their comprehensive Temenos offerings and successful track record were key factors in Stanbic Bank’s decision to partner with them.
Stanbic Bank’s Technological Commitment
Dr Joshua Oigara, Chief Executive of Stanbic Bank Kenya and South Sudan, emphasised the strategic importance of this technological upgrade. He stated, “Embracing technology and innovation is central to our growth strategy in today’s digital banking landscape. This upgrade enhances our capabilities and allows us to serve our clients more effectively locally and globally. Partnering with Orion’s expertise and innovative solutions is a significant step forward for us.”
Alex Siboe, Stanbic Bank Kenya’s Head of Technology, also stressed the importance of this transformation. He noted, “Improving customer experience through technology is a cornerstone of our strategy. This upgrade…will boost our operational efficiency and enable us to offer innovative services that meet our customers’ evolving needs.”
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Stanbic Holdings Plc| Orion Innovation
Stanbic Bank Kenya, a member of the Standard Bank Group, stands as Kenya’s seventh-largest commercial bank by assets. With a legacy of over 100 years, Stanbic Bank is committed to driving Kenya’s growth and leading the financial services sector in delivering exceptional client experiences and superior value. Regulated by the Central Bank of Kenya, Stanbic Bank offers a comprehensive range of financial services for corporates, SMEs, and individuals.
Orion Innovation is a leading firm in digital transformation and product development services. With approximately 6,400 associates, Orion assists Fortune 1000 companies in enhancing efficiencies, improving customer experiences, and developing new digital solutions. Operating from delivery centres in North America, EMEA, India, and Latin America, Orion serves clients across various industries, including financial services, high-tech, telecom and media, sports and entertainment, professional services, and healthcare.