Nedbank overhauls commercial lending with Misys tech
Nedbank, one of South Africa’s largest banks, is implementing a new syndicated lending system, Fusionbanking Loan IQ, supplied by Misys.
Nedbank in lending tech revamp with Misys
The new solution is set to modernise commercial loan servicing at Nedbank, front-to-back office, both in South Africa and internationally.
No comment was available from Misys about the project.
The contract was signed in H2 2015, Banking Technology understands.
Nedbank is also gearing up for a major core banking software overhaul for its domestic operations, to replace a host of legacy in-house and third party solutions, including CSC’s Hogan.
The bank went to market in 2015 to find a new core platform. It is understood Oracle FSS, TCS Financial Solutions, Infosys and SAP were evaluated.
Oracle FSS already has a foothold at Nedbank: the bank’s pan-African operations (outside South Africa) run on the vendor’s core banking offering, Flexcube.
The decision on the new core system has been recently made, Banking Technology understands.
