Standard Bank switching to new banking system

Post was last updated: April 6, 2017

In its quest to deliver superior services and move customers in tune with advancements in technology, Standard Bank Malawi will switch its operations to a new banking system driver called Finacle.

The bank said the move, expected in June 2017, has been carefully planned to ensure seamless transition for customer transactions and to deliver an exciting, superior customer experience.

Finacle will usher in a comprehensive range of service and product options available through digital banking channels. It will also necessitate a gradual change in customer account numbering, without any disruption to customer transactions.

Making the announcement, Chief Executive Officer Andrew Mashanda said Finacle has been chosen to steer Standard Bank’s operations into a future where both bank and customers move together with technology and remain relevant to each other.

“We are a bank that is leaving no stone unturned in our quest to provide relevant solutions to our customers. Finacle is a medium that will significantly improve the way we serve our customers and also improve their experience when they interact with the bank. We are making banking more personal, flexible and agile as we continue to move our customers forward,” he said.

Mashanda said Finacle is a result of a year-long banking service delivery improvement initiative that will put Malawi at par with a growing number of Standard Bank operations using Finacle in Africa.

He added that Finacle will usher in customized functionality of the bank’s services and products to customers in real time.

“During the move, account numbers will change, however, customers will be able to transact using their old accounts for a considerable period of time. Between now and June customers will receive information about progress of Finacle introduction and its benefits,” he said.

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