Ghanaian Bank Goes Live on Inlaks, Temenos Solution

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Emma Okonji

Inlaks, one of the fastest-growing ICT infrastructure and systems integrator in sub-Saharan Africa and Temenos, the banking software company, have announced that Consolidated Bank of Ghana has gone live on TemenosT24 Transact release 17.

Consolidated Bank of Ghana Data Migration Project in Accra drove the implementation of Temenos T24 Transact for CBG (a financial institution formed from a merger of seven independent banks).

Consolidated Bank Ghana Limited (CBG) is an indigenous Ghanaian Universal Bank operational in all 10 regions of Ghana with 120 branches. After months of intensive development and testing, effective project planning and leadership, stakeholder support, strong governance and effective training, the project has been deemed successful.

Temenos T24 Transact is a cloud-native, cloud-agnostic and real-time core banking solution with exceptional functionality; offering services on Retail and Corporate Banking as well as Wealth Management sectors. With T24, the Consolidated Bank of Ghana is guaranteed to experience a dynamic shift in operational excellence. The banking solution is known to enhance increased flexibility and productivity, resulting in improved customer service, market for new products, substantial cost savings and improved speed/efficiency of implementation processes.

Speaking on the project, Executive Director, Inlaks, Olufemi Muraino, said: “We are very pleased to have been a part of one of the greatest digital transformation strides in the history of Consolidated Bank Ghana Limited. CBG will benefit immensely from Temenos’ best-selling solutions which will strengthen and render more effective the performance of their core banking system. Being whole-heartedly committed to achieving our vision to be the foremost ICT provider in sub-Saharan Africa, Inlaks, in collaboration with world-class OEMs like Temenos, will continually support the growth and digital advancement of institutions in that region.”

Managing Director Middle East and Africa at Temenos, Jean-Paul Mergeai, said: “We are delighted to support Consolidated Bank of Ghana during this exciting time of integration and great progress. Bringing together the operations of multiple banks is a journey that Temenos is excited to be a part of and has extensive experience in around the globe and within the Middle East and African region specifically. By choosing Temenos T24 Transact, Consolidated Bank of Ghana have positioned themselves perfectly to future-proof their business as well as drive growth and accelerate product innovation. Ghana is a key growth market for Temenos and we are fully committed to working as a trusted partner with Consolidated Bank of Ghana now and well into the future.”

The Managing Director, CBG, Daniel Addo, also said: “The joint effort of Inlaks and Temenos teams has indeed been commendable. We value all the benefits that the successful go-live of T24 has accrued to the banking operations since implementation. As we strive to be the preferred Ghanaian bank providing simple, secure and differentiated banking experience to customers, the completion of this migration project has further reinforced our strategy to attain that goal”.