Cameroon’s Afriland First Bank upgrades to Temenos T24 core system
Temenos gains first client in Cameroon, Afriland First Bank
Afriland First Bank, a banking group in Cameroon, has chosen Temenos’ T24 core banking platform for its digital transformation.
The bank will go through a complete IT renovation, including additional solutions like Temenos’ front office suite, analytics and reporting, payments hub and Islamic banking capabilities. It will be working with a regional system integrator and a partner of Temenos, Inlaks, on this project.
This is the first known customer of Temenos in Cameroon.
FinTech Futures understands that T24 will replace Sopra Banking Software’s Amplitude system (formerly Delta-Bank from Delta Informatique) in Cameroon. Across other locations, Afriland First Bank has a number of different legacy systems.
Jean Paulin Fonkoua Kake, Afriland First Bank’s president, says Temenos was chosen due to “deep local expertise combined with the global experience in supporting digital transformation projects”.
Jean-Paul Mergeai, MD Middle East and Africa at Temenos, describes French-speaking Africa as “a key growth region” for the vendor.
The new platform will enable Afriland First Bank to cater for the specific regulatory requirements in the UEMOA zone (Mali, Burkina Faso, Senegal, Guinea Bissau, Ivory Coast, Benin, Togo and Niger) and the six countries of the CEMAC (Cameroon, Gabon, Congo, Equatorial Guinea, CAR and Chad).
Temenos has recently seen a good supply of banks picking its system, including Melbourne-based challenger bank Judo Capital; Praxia Bank, the first challenger bank in Greece; and two start-up banks in the US, Varo Money and Grasshopper Bank.
In other news, Temenos and B-Hive Europe have partnered to allow Temenos clients tap into B-Hive’s matchmaking for start-ups and scale-ups, and financial institutions.
