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Co-operative Bank of Lamia, a financial institution in central Greece, has chosen the CSB core banking system offering from Natech, a local vendor.

Co-operative Bank of Lamia, a financial institution in central Greece, has chosen the CSB core banking system offering from Natech, a local vendor. The bank will be replacing its current Croesus system from a now defunct vendor, ABC Technologies, says Ioannis Konstantakis, IT analyst at Natech. CSB was chosen ahead of the Profits system from another Greek supplier, Intracom. 

CSB was preferred for a few reasons, says Konstantakis. It has already been implemented at a number of co-operative banks in Greece (IBS, February 2011, IntellExpress live on core solution from Natech), while Profits has not been, and Konstantakis claims that CSB is also cheaper. The existing users also form a broad community of banks which participate in working groups. 

Co-operative Bank of Lamia will use CSB for a wide range of activities including deposits, loans and debt management, accounts, financials, investment, leasing, internet and mobile banking, cheques, ATMs and SEPA transfers. CSB is due to go live at the start of 2012. 

 


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by Darshana Adanwale
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