This Monday 21st April 2014, the National Bank of Rwanda has introduced a new system known as T24 Core Banking. The Core Banking system is part of the roadmap of the BNR ICT Modernization program that commenced in 2011 with the Rwanda Payments and Processing Systems (RIPPS); Regional Payment Processing System (REPPS) and a Modern Data Center.
The T24 Core Banking System introduced today is being implemented along with another system called Oracle e-Business Suite Enterprise Resource Planning (ERP) that went live on 28th February 2014. The systems will positively impact the whole BNR and all stakeholders by; improving the effectiveness and efficiency of customer service delivery; enhance security and internal controls; facilitate real time data and reporting with business intelligence.
The major functions that will be heavily impacted include: Trade Finance, Management of Foreign exchange, Banks and Government Accounts management, External Payment processing, Treasury and securities, Financial Management and accounting and, Supply Chain Management. The state of the art technology employed with the new systems will enable full integration with stakeholder organizations at both national and international levels and eliminate all manual or semi-manual operations.
The implementation of the two systems has been done by TEMENOS (the vendor) together with the BNR staff which gives the Management of the Bank a great assurance that adequate knowledge transfer has been effectively done and the systems will deliver the expected value.
The National Bank of Rwanda therefore calls upon all its esteemed customers and stakeholders to be part of the change for the successful transition from the old system to the new one and bear with us in case there are some delays caused by this transition.
PressRelease by BNR
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