The country's third largest bank says the new platform will help with its expansion in South Sudan, future planned forays into Rwanada and Uganda, and its growing Kingdom brokerage arm by which clients can access Nairobi's stock exchange.
Misys's platform was chosen in a competitive process that included a handful of alternatives from other leading vendors, as well as input on the request-for-proposal and selection process from Kenyan consultancy DCDM. It is the latest in a string of implementations for Misys in East and Southern Africa, two regions on the continent the vendor has specifically targeted because growing banking demand there.
“Cooperative Bank of Kenya is one of the most ambitious banks in Africa, operating in a highly competitive market with international entrants disrupting the banking industry there. To create differentiation and capture further market share, the bank has taken a pioneering approach to technology adoption and was one of the first banks in Africa to embrace mobile banking," says Misys CEO Nadeem Syed.
James and Anthony talk about the looming Sibos event in Toronto and take a look at some recent M&A activity and blockchain developments in the capital markets.Subscribe to Weekly Wrap emails