To build a core banking platform and comply with all regulatory requirements
First National Bank of Namibia (FNB) has deployed technology from IBM to localize its banking systems and operations. The deployment was in response to a directive from the Central Bank of Namibia to localize all banking infrastructure and IT systems in Namibia before the end of 2009.
Under the $5m agreement, IBM will provide FNB with two of the latest IBM System z10 Business Class mainframes and supporting software to meet regulatory requirements and support the bank’s growth. The project includes all information technology systems, documents and data relating to customer transactions, the bank’s business affairs, property, assets and liabilities.
Vekuii Rukoro, group CEO of FNB Namibia Holdings, said: “FNB Namibia’s investment in the latest, industry-leading IBM mainframe systems and software has helped us to build a dynamic core banking platform as well as meet all regulatory requirements. Importantly, the project to localize Namibia’s banking infrastructure has brought technological advancement, knowledge transfer and created jobs for Namibian professionals.”
Oliver Fortuin, general manager at IBM Sub-Saharan Africa, said: “The mainframe solution will help FNB to accommodate growth, ensure cost effectiveness, business continuity and improve services for customers.”