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.
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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.”