Fintech
Stanbic Bank Kenya partners with Orion Innovation for strategic modernization
Orion Innovation (“Orion”), a leading digital transformation and product development services company, today announced that it has signed an agreement with Stanbic Bank Kenya facilitate the upgrade and modernization of core banking. As part of the agreement, Orion will implement Temenos’ cloud-based digital banking platform within Stanbic Bank Kenya’s operations, enabling enhanced customer experiences and providing innovative digital solutions.
Orion, a trusted and globally certified Temenos partner, has been selected as Stanbic Bank Kenya’s partner to upgrade its Transact application from R17 to R23 and migrate from TAFC to the new TAFJ standard. The ambitious project includes over 90 additions and over 6,000 local code conversions. To accelerate the project timeline, Stanbic Bank Kenya will utilize Orion’s industry-leading Test Automation tools and services.
“We are excited to partner with Stanbic Bank Kenya on the banking modernization initiative,” said Anoop Gala, global head of financial services at Orion. “Our team is committed to fueling digital innovation in the African financial services market by ensuring our banking partners deploy advanced implementation tools that ensure compliance and advance project timelines.”
Suchen Janjale, head of financial services at Orion in Europe, said: “Our comprehensive offerings on Temenos, coupled with our proven track record of efficient and successful upgrades and integrations, were instrumental in Stanbic Bank Kenya’s decision to choose Orion as their trusted partner.”
Dr Joshua Oigara, Chief Executive Officer of Stanbic Bank Kenya and South Sudan, said: “Technology and innovation are key to our continued growth in a highly digitalized and complex banking environment. This upgrade adds to our technological capabilities and allows us to better serve our customers on both a local and global scale. We are proud to partner with Orion and leverage its strong background and experience in systems modernization.”
Stanbic Bank Kenya Chief Technology Officer Alex Siboe said: “Transforming the customer experience through technology is the cornerstone of the bank’s strategy. In line with our goal of providing exceptional customer experiences and superior value, we continually work to adopt the right technologies to drive efficiency and satisfaction for our customers. This update is part of our digital transformation journey and will help us provide a seamless and superior banking experience to our customers. Furthermore, through this upgrade, we will not only improve our operational efficiency but also offer innovative services to our customers, meeting their evolving needs in today’s digital age.”