Stanbic Bank Zambia in regtech automation with BankBI
Stanbic Bank puts reg reporting in the cloud
BankBI, a UK-based business intelligence (BI) and analytics solution provider, has been selected by Stanbic Bank Zambia to implement its tech for regulatory reporting.
The project with BankBI is “a strategic decision” by Stanbic, the vendor says. The bank, which is a subsidiary of South Africa’s Standard Bank, will “increase productivity and reduce cost by automating its regulatory reporting requirements”, BankBI says.
Mwindwa Siakalima, CFO of Stanbic Bank Zambia, says the vendor demonstrated “a clear understanding of the bank’s reporting needs”. Siakalima also highlights the company’s “proven capabilities”.
BankBI’s solution will be interfaced to Stanbic’s core banking system, Infosys’ Finacle.
Established in 2012, BankBI targets banks, credit unions and microfinance entities. It has a single multi-tenant BI solution deployed for all its customers in the Microsoft Azure cloud. It now claims around 60 clients across 40 countries. Among them are international microfinance networks VisionFund and Microcred, and US-based Ideal Credit Union and Our Community Credit Union.
