Consolidated Bank Ghana goes live on Temenos T24 Transact
Consolidated Bank Ghana (CBG) has gone live with its new core banking system, T24 Transact from Temenos.
Temenos T24 Transact at heart of consolidation project
CBG was formed in August 2018 from the combined assets and liabilities of five other Ghanaian banks: Construction Bank, Beige Bank, Royal Bank, UniBank and Sovereign Bank. Fully owned by the government of Ghana, CBG is the second-largest bank in the country.
The bank selected Temenos as part of a technology consolidation project, bringing together the operations of the five defunct banks under one platform.
“Temenos’ rich banking functionality and advanced cloud and API-first technology made it the perfect partner for this ambitious and exciting consolidation project,” says Daniel Addo, CEO at CBG.
“Already a trusted partner to each of the seven former banks, Temenos has the blueprint for advanced cloud-native, cloud-agnostic core architecture that will allow us to deliver digital banking services and promote financial inclusion, both now and in the future.”
Jean-Paul Mergeai, managing director for Middle East and Africa at Temenos, adds: “CBG has a future-proof platform from which it can drive business growth, accelerate product innovation and better respond to market changes to meet customer needs.”
