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Metropolitan adopts new banking system

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Metropolitan Bank of Zimbabwe Limited (Metbank) has upgraded its core banking system from Globus G10 to Temenos T24, a customer-oriented banking system designed to give technological power to meet current challenges and arising opportunities.

Globus G10 has been in operation for over 10 years.

With T24, the bank can now integrate and centralise its transactions and reporting operations including retail, treasury and corporate banking.

The T24 system was deployed on a Linux-version 5 platform and J-base database, which is regarded as the most technically-advanced banking system available in the country today.

Metbank chief executive officer Virgil Jakachira said the bank is very excited about this strategic development.

“We would like to thank our valued clients for their understanding and unwavering support during this transitional period,” said Jakachira.

“The bank is now more strategically placed to organise its business around the customer,” he said.

The implementation project was initiated on October 1, 2010 and went live at the beginning of this month.

Finance director and chairperson of the bank’s IT steering committee Garainashe Changunda said the upgrade to T24 would deliver growth for both the customer and the bank.

“Customers’ needs are changing rapidly in today’s highly technological environment and as a bank it is critical that we respond to these needs,” he said.

Metbank said retail and corporate banking is where it expects to record significant growth in the bank’s business therefore having the most robust technology capabilities possible would be a key driver in achieving the bank’s goals.

Going forward, the bank expects to continue making significant investments in its technology to support its clients’ business.

“Customers expect convenient, agile services and a comprehensive set of products that can satisfy all their individual and corporate financial needs,” said Jethro Solutions director Kembo Kamupira.

Jethro Solutions is the banks implementation partner.

“Metropolitan Bank’s upgrade to Temenos (r 10) T24’s latest release will enable them to offer improved services through an increased number of channels. Now the options of adding various channels to the banking system are endless,” he said.

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