Centenary Bank live with new core banking system, Profits
Centenary Bank in Uganda has gone live with a new core banking platform, Profits, supplied by Intrasoft International.
As a result, customers are being issued with new account numbers. The bank says the old numbers can still be used to access services.
Intrasoft’s Profits replaced the legacy Equinox platform from Neptune Software. The bank signed for Equinox back in 2002 (in preference to Infosys’ Finacle, Misys’ Bankmaster, I-flex/Oracle FSS’s Flexcube, and Temenos’ Globus/T24).
Intrasoft has been making inroads into Africa for over six years. It now has customers in Rwanda, Tanzania, Kenya, Zambia and Uganda, and opened a subsidiary in Kenya last year – Intrasoft International East Africa.
Centenary Bank is the first taker and live site for Profits in Uganda.
The bank has over 1.4 million customers, 65 branches and 167 ATMs across Uganda. Its main focus is microfinance.
Centenary Bank issued an RFP to find a replacement for its legacy tech in early 2013. A local unit of PricewaterhouseCoopers (PwC) assisted with system selection.
The bank said at the time it would award the contract to the offering with “the highest technical score, the best strategic fit, the lowest solution risk and most favourable solution cost”.
The deal with Intrasoft was signed in summer 2014.