Rwanda: Central Bank unveils new core banking system

Apr 25, 2014

The National Bank of Rwanda unveiled a new core banking system on Monday 21 April.

The National Bank of Rwanda
unveiled a new core banking system on Monday 21 April.

The new technology, called "T24 Core Banking", is designed to improve the bank's operations security and service delivery. It is also expected to boost trade and improve the management of foreign exchange, banks and government accounts, the New Times reports.

In addition, the ICT system should enhance the management of external payment processing, treasury and securities, financial
and accounting and the supply chain, while enabling full integration with stakeholder organisations.

John Rwangombwa, the Governor of the National Bank of Rwanda (BNR), said in a statement on Monday, that
the system will positively impact operations at BNR and those of stakeholders by facilitating real time data and reporting with business intelligence.

In addition, he said in the statement, "given that the central bank is both a clearing and settlement bank, the advantage of this new technology is that it will allow it to control the whole chain of payments in a bid to improve the delivery and the quality banking services."ADNFCR-2976-ID-801714620-ADNFCR