GTBank live with new core banking system, Infosys Finacle
Nigeria-based Guaranty Trust Bank (GTBank) has gone live with a new core banking system, Finacle, supplied by Indian tech heavyweight Infosys.
Segun Agbaje, Guaranty Trust Holding Company (left) and Venkatramana Gosavi, Infosys Finacle, at the signing ceremony. Image source: Infosys
GTBank is a major player in the domestic market, offering retail, wealth and corporate banking services. It also has presence across East and West Africa and in the UK.
The new core banking system has replaced the legacy ICS Banks core from rival banking software vendor ICS Financial Systems (ICSFS).
GTBank had been a long-standing client of ICSFS and one of its largest, using ICS Banks across its African locations (Gambia, Ghana, Ivory Coast, Kenya, Liberia, Nigeria, Rwanda, Sierra Leone, Tanzania and Uganda) as well as in the UK.
However, last year, GTBank signed a large-scale deal with Infosys to “achieve a comprehensive transformation of its business” across the group, both domestically and internationally, according to the vendor.
The new platform, which spans retail and corporate banking solutions, is described as “superior, agile and scalable” by Segun Agbaje, group CEO of GTBank’s parent, Guaranty Trust Holding Company.
“It supports our vision of delivering seamless and connected experiences across every customer touchpoint,” he states.
Infosys adds that the planned bank-wide digitisation and automation will also ensure “a significantly lower total cost of operations”.
