7 September 2017

South Africa: National Bank to Upgrade Core Banking System

National Bank is set to carry out a core banking system changeover on Saturday, 9th September 2017.

Per a press statement, the Bank is upgrading its core banking system to Fusion Banking Essence [FBE], the fifth and latest version of BankFusion Universal Banking (BFUB) system provided by Finastra Limited.

Commenting on the upgrade, National Bank Managing Director and Chief Executive Officer, Mr. Wilfred Musau said the upgrade will enhance the technology platform in line with the bank's focus to improve customer experience and provide a wider range of product offering.

"The Core Banking System upgrade will enable the bank to further increase its operational efficiencies and improve its compliance and risk management functionalities. It will also provide the Bank an advanced banking platform to position itself for enhanced digital banking services for the customers," added Musau.

The new outfit is expected to offer enhanced performance, flexibility and real-time interfaces.

"FusionBanking Essence also offers an Islamic Banking module that is seamlessly integrated to the core banking system while at the same time adhering to Shariah compliant practices." Musau concluded.

l the National Bank branches across the country will remain closed for the upgrade. However, all the Bank's alternate channels including its mobile platform NatMobile, ATMS, National Agents and Merchant Outlets will be available for service.

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