Ethiopian bank chooses Infosys’ Finacle core banking solution

Bunna International Bank, a leading player in Ethiopia, has selected Infosys’ core banking product Finacle.

Finacle will enable the bank to integrate its front and back-office operations and deploy a latest loan origination system. This will include automating the credit check and loan approval processes for risk-free and efficient loan disbursals. This transformation will help Bunna improve the overall banking experience for its customers.

Automated services of the core banking solution will ensure faster processing of front and back-office requests and an improved turnaround time for customers. With this solution, the bank will also be able to bring to market targeted and innovative services faster than ever before.

Bunna's decision to deploy Finacle comes at a time when the National Bank of Ethiopia is mandating its member banks to automate their services. Part of the mandate calls for a National Payment System to facilitate automated settlements and inter-bank money transfers.

Using Finacle will allow Bunna to facilitate real-time processing of transactions and settlements of payments, which sets the stage for future innovations like mobile wallets and agency banking.

“This new solution, which will be implemented in a relatively short period, is the key to helping us become far and away the best bank in Ethiopia,” Ato Eshutu Fantaye, President of Bunna, said.

ramesh.m@thehindu.co.in