Dr Diane Karusisi, CEO of Bank of Kigali Plc

Bank of Kigali has selected Temenos‘ banking software in a bid to support its growth goals as well as its financial inclusion strategies. Using Temenos T24 Transact’s Advanced Analytics, Reporting, Risk and Compliance modules, the bank is expected to transform its legacy IT systems.

Dr Diane Karusisi, CEO of Bank of Kigali Plc, said, “We are excited to expand our relationship with Temenos, which will form the foundation to drive our three-year digital transformation strategy. Temenos’ cloud-native and cloud-agnostic banking software will help reduce deployment costs and drive simplicity and efficiency of operations. The new open digital banking platform will enable us to gain a deeper understanding of our customers’ needs and allow us to provide the best-in-class customer experience.”

According to the supplier, Bank of Kigali is expected to gain business agility, be able to deliver customized products for the unbanked sectors of the economy and result in the reduction of the cost of deployment. Temenos’ solution will also enable the bank to automate its process, expand its digital banking customer base and enhance its products and services.

Bank of Kigali has been Temenos‘ customer since 2016.

Jean-Paul Mergeai, Managing Director Middle East & Africa at Temenos, said, “As the bank’s technology partner during this exciting time of digital transformation, we look forward to working hand in hand with Bank of Kigali Plc as they strive to provide the most innovative financial solutions in the region. We believe that financial institutions can only become truly digital when they transform their end-to-end operations, and we are the best provider to help them realize their digital vision.

“With Temenos’ most complete packaged functionality and advanced cloud technology, Bank of Kigali Plc will be in an ideal position to drastically reduce time to market and cost. At the same time, the bank will be able to expand its digital customer base and promote financial inclusion both in Rwanda and throughout the region.”

Established in 1966 in Rwanda, Bank of Kigali is a commercial bank with a branch network of 68 locations, 99 ATMs, 1,427 banking agents and over 1,200 staff. Bank of Kigali Plc is currently looking to drive its transactional growth revenue through both retail and insurance and brokerage business.

Recently, Banque du Caire has gone live with Temenos Infinity in a bid to transform its multiple banking channels as well as enhance its customer journey experience.

by Megha Bhattacharya
Market Analyst at IBS Intelligence