Development Bank of Nigeria plans core banking software revamp
The Development Bank of Nigeria (DBN) is planning a core banking system implementation and the bidding process is open.
As part of the bank’s ambition, the Federal Government of Nigeria (FGN) is inviting vendors to bid for the supply and installation of core banking software and related infrastructure.
FGN has received a loan from International Bank for Reconstruction and Development (IBRD) towards the cost of the development finance project. Nigeria’s Federal Ministry of Finance is serving as the implementing agency for the project and has invited sealed bids from eligible bidders for the project.
A few ground rules have been set.
- Bidders must have completed three successful contracts involving the development, installation and provision of technical support for core banking software of similar functional/technical characteristics and of a comparable scale in the past five years;
- Bidders should be able to demonstrate annual turnover and liquidity of between $500,000 to $1.5 million in the last three years;
- Bidders must be willing to establish a local presence as necessary for the implementation of the assignment;
- Bidders must have in their team a minimum of five key technical personnel who must have implemented a core banking application in the last ten years.
Bidding closes at 11:00am on 6 July 2016.
DBN is a new bank in the region. Back in December 2014, the board of directors of the African Development Bank (AfDB) Group approved a financial package of $500 million to support its establishment.
DBN was established by FGN in partnership with international development financial institutions such as the AfDB Group, the World Bank, KfW of Germany and the French development agency, Agence Française de Développement (AFD).
Across Africa there have been a number of other recent developments.
Standard Chartered is bringing its mobile and online banking platform to eight countries on the continent. After the roll-out to Botswana, Ghana, Kenya, Nigeria, Tanzania, Uganda, Zambia and Zimbabwe in the first half of 2016, the bank will launch fingerprint recognition technology in these markets later in the year.
Barclays Africa is piloting a chatbot, making it the “first bank” to do so in Africa. The chatbots will use artificial intelligence (AI) to simulate “intelligent conversation” through written or spoken text.