Rwanda’s largest bank by assets and market shares has replaced its core banking system with Temenos’ open platform. The Bank of Kigali having been in operation since 1967 has partnered with Inlaks, the foremost ICT infrastructure, and systems integrator in Sub-Saharan Africa, and Temenos, a major banking software company, to deploy the T24 Transact and Payment, with the aim of accelerating digital transformation in Rwanda. The bank of Kigali offers a full spectrum of products and services for retail banking, corporate banking, and central treasury.
After over 5 decades of operation, the Bank of Kigali can now quickly expand its digital channels and provide its customers with a faster and smarter banking experience.
Over 3,000 firms across the globe, including 41 of the world’s top 50 banks, rely on Temenos to process their client interactions and daily transactions. Temenos offers cloud-native, cloud-agnostic, API-first digital banking, core banking, payments, fund management, and wealth management software products, enabling banks to deliver consistent, frictionless customer journeys and achieve market-leading cost/income performance.
Powered by Temenos, 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.
Chief Executive Officer at the Bank of Kigali, Dr. Diane Karusisi said that the development by the Inlaks team is in line with the bank’s drive for digital transformation and optimal customer satisfaction.
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She said: “We are proud to be associated with Inlaks as our implementer of choice and commend our staff for their hard work in ensuring this go-live went as planned within a short time frame. Our goal is to innovate and deploy products that will improve our services to our customers while advancing the cause for continuous digitization of the East African banking sector”.
Jean-Paul Mergeai, President EMEA – APAC, Temenos, said in a congratulatory address; “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. Bank of Kigali has similarly bold ambitions for digital transformation to improve the financial lives of all Rwandans. 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”.
Kyari Bukar, CEO, African Operations, Inlaks, also stated that “As a Temenos partner, we have built our expertise and reputation supporting the growth and digital advancement of core banking operations in the East African region and beyond. Bank of Kigali will benefit immensely from the implementation as the automation of its banking processes will strengthen the effectiveness and performance of its core banking system. Kigali is a key growth market and Inlaks is fully committed to working as a trusted partner with the bank now and into the future”.
Temenos will undeniably be instrumental in the growth of the bank of Kigali as it expands its business over time.