Vista Bank picks Temenos for African digital expansion
Vista Bank, an African challenger bank, has turned to Temenos to power its digital overhaul.
The bank is implementing Infinity, a digital front office solution, and T24 Transact for core banking.
Vista also has selected analytics and reporting, risk and compliance modules, and the Temenos Payments Hub product.
The group was established following the acquisition of First International Bank (FIB) Group in 2015 by the US based investment fund, Lilium Capital.
The bank hopes to be able to introduce new products and services more quickly and support its growth ambition.
“This will help us realise our vision of building a truly pan-African financial institution group that will add value to the African economy and promote financial inclusion,” says Simon Tiemtore, group chairman at Vista Bank. “Temenos is our trusted strategic technology partner and our customers will reap the rewards of its innovative API-first, cloud-native and cloud agnostic software.”
According to Temenos, its regional model bank approach, which includes pre-configured local functionality and best practices, will enable Vista Bank to cater for specific regulatory requirements during its expansion.
Currently operating through a network of 43 branches across Sierra Leone, Guinea and The Gambia, the group’s goal is to expand its footprint into the West African Monetary Union and the Central African market, targeting a presence in 15 countries by 2025.