Inlaks, an ICT infrastructure and systems integrator company, says it has successfully completed a technical upgrade of T24 Transact from release 14 to release 20 for the Bank of Zambia.
It said the project included the technical upgrade of the system, analysis and adoption of the bank’s local developments to R20 requirements, testing and maintaining the existing features to a new system.
The company said in a statement that Temenos T24 Transact was a real-time core banking solution with exceptional functionality, offering services from the front to the back office for banks and financial institutions, adding that the core banking solution ensured ease of integration to third party applications.
It pointed out that the upgrade was expected to enhance product delivery at the Bank of Zambia and improve its customers’ experience, while quickening decision making and approvals, especially in response to the challenges posed by the COVID-19 pandemic.
It noted that with the core banking solution, the Bank of Zambia was poised to experience a dynamic shift in operational excellence as the solution was known to enhance increased flexibility and productivity, resulting in improved customer service delivery.
Speaking in Lagos, the CEO, Inlaks African Operations, Kyari Bukar, said, “We are proud to conduct the T24 upgrade for the Bank of Zambia. The implementation will help the financial institution with newer functionalities to keep up with the growing demands of the South-Central African financial market.”
The Executive Director, Inlaks Financial Business Unit, Femi Muraino, commended the BoZ team on the implementation, saying the firm would continue to support digital advancement of institutions in Africa.
The statement also quoted the Deputy Governor, Administration, BoZ, Ms Rekha Muhanga Chifuwe Mhango, as saying the choice of Inlaks for its technical upgrade was because of its continuous commitment to foster innovation, while remaining at the forefront of technology.
