Awash International Bank S.C. (AIB) launched a new core banking system called Fusion Banking Essence (FBE). This system replaced the previous one dubbed Bank Master.

The new banking system is supplied to Awash by the UK based firm, Misys International Financial System.

Commenting on the development Awash’s President, Tsehay Shiferw, noted; “This is another mark of our success, excellence and our deep commitment to our customer business. Our bank, is transforming to empower our customer through better services.”

Nadeem Syed, CEO of Misys, on his part said; “Having a continued privilege to be Awash’s long term technology partner is an exciting opportunity for us”.

The system costed AIB a total of U.S. $ 3.5 Million and it is guaranteed to work for a decade with no disruption.

According to a statement released by the Bank, the new system will give AIB an edge over competition by helping meet market demands with greater agility. The statement furthered, automated services of the new solution will ensure faster processing of front and back office requests and an improved turnover time for customers.

In addition to this, the statement noted, Awash will be able to bring market targeted and innovative services faster than ever before. Aiming to make internet, mobile and telephone banking services more efficient, the new system will be using state-of-the-art technology.

The just launched core banking system is going to applied by 100 branches first.

Source: Capital