Sign In
Subscribe

I&M Bank Uganda Leaps Forward with Finacle Core Banking Upgrade, Eyes Digital Transformation Milestone

I&M Bank Uganda has embarked on a significant digital transformation journey, upgrading its core banking system to Finacle, a move poised to revolutionize customer service and operational efficiency. This upgrade, costing about $9 million (Shs 34.9 billion), represents a substantial investment in digitization, underscoring the bank’s commitment to leveraging technology for innovation and growth. CEO Robin Bairstow highlighted the upgrade as a pivotal development for customer acquisition and service enhancement.

Strategic Advancement Through Technology

The transition to Finacle, a more robust and versatile core banking solution, marks a critical step in I&M Bank Uganda’s strategy to enhance service delivery and operational efficiency. Finacle’s web-based platform supports multi-currency transactions and consolidates all digital channels under one banking platform, offering an omni-channel experience. This upgrade is expected to broaden the bank’s financial services and solutions, including digital account opening, deposits, loan payments, and trade finance, steering the bank towards its goal of becoming Uganda’s premier financial partner for growth.

Enhancing Customer Experience and Operational Excellence

According to CEO Bairstow, the move to Finacle will not only boost the bank’s service delivery but also ensure greater efficiency and an improved customer experience. The system’s emphasis on usability is set to significantly enhance customers’ banking experience. Chief Operations Officer Sam Ntulume assured that the transition has been seamless, with no disruption to customer access to the bank’s services. The upgrade will enable the bank to offer services previously unavailable, such as credit cards, due to limitations of the old technology.

Future-Proofing Banking Services

The implementation of the Finacle Core Banking Solution is a testament to I&M Bank Uganda’s dedication to innovation and operational excellence. By providing a wide range of financial services and solutions under a unified platform, the bank is well-positioned to meet the evolving needs of its customers. This technological leap forward is not just about enhancing current services but also about future-proofing the bank’s operations, ensuring that it remains at the forefront of Uganda’s banking sector in the digital age.

As I&M Bank Uganda navigates its digital transformation journey, the upgrade to Finacle stands as a significant milestone. It reflects the bank’s strategic aspiration to harness technology for growth and customer satisfaction. This move is expected to set a new benchmark in service delivery and operational efficiency, propelling I&M Bank Uganda towards becoming the leading financial partner for growth in Uganda.

Top Stories

Related Articles

Shopping Cart

Media Kit

    Data Protection

    Personal Data (“Data”) submitted for Media Kit (“Media Kit”), and/or collected in the form of first name, last name, email address and other contact details may be used for the purposes of inviting you to future events and for reaching out to you with content which may be of interest to you. For these purposes, Coeus Intelligence will share the Data with our associate companies (including event and content sponsors) to promote their products and services. If you would like to opt-out, email us at [email protected].

    By clicking Submit, you acknowledge that you consent/ have sufficient informed consent to the collection, use and disclosure of Data as set out above.

    Contact Us

      Data Protection

      The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

      Request Nomination Pack

        Data Protection

        The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

        Registration Form

          Data Protection

          The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

          Registration Form

            Data Protection

            The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

            The world’s preeminent Private Banks and Wealth Managers are demonstrating a committed drive in innovation, advisory, new products and services to meet the sophisticated needs of their clients.

            COVID-19
            Amid economic activity revival on the back of the Covid-19 vaccine program, organisations moving from business continuity plans to stable working environments, together with the slightest improvement in unemployment numbers, forced the world to adjust to new realities. Coming to terms with the “new normal”, global investors are now on the look-out for attractive and stable investment opportunities.

            Needs of Private Wealth customers and families worldwide have drastically changed due to the pandemic and banks have had to accelerate efforts to deploy a multi-channel service strategy and safeguard clients’ businesses and wealth against negative impacts of economic uncertainly.

            The Global Private Banking Innovation Awards will recognise the world’s best private banks, wealth managers and asset managers that are championing innovation across advisory, service, products, customer experience and more.

            Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. 

            Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

            Request Nomination Pack

            Error: Contact form not found.