Standard Bank of Namibia launches new banking system

Mar 14, 2012

The Standard Bank of Namibia has announced the launch of a new banking system called Finacle.

The Standard Bank of Namibia has announced the launch of a new banking system called Finacle.

By studying gaps in its banking products and eliminating them to meet the needs of the customers, the system will enable the Namibian bank to improve its services.

Equally, a better knowledge of each individual's requirements will allow the financial institution to personalise the marketing of its banking products to each customer.

It is hoped the turnaround times regarding credit will also fall, in a bid to improve financial access to the population.

As well as improving the customer service, Finacle will enable Standard Bank to reinforce security and reduce risks during certain procedures that will be conducted automatically instead of manually.

The new banking system will also allow the financial institution to quickly identify possible fraudulent activities.

The transition to Finacle was completed in February 2012 - after starting in 2009 - and puts Standard Bank fully in line with the Bank of Namibia's regulatory requirements.
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