Of Special Interest
23rd December 2011
IBM help for Kenyan banking
IBM announced it had entered into strategic agreements with Credit Bank, Co-operative Bank, Family Bank, National Bank of Kenya and National Industrial Credit Bank in Kenya. It is also working with Vodafone and Safaricom to provide the M-Pesa mobile wallet service which started in Kenya and now has 15m customers in East Africa.
IBM is working with the Kenyan banks in different ways and reports:
- Credit Bank and National Industrial Credit Bank have both opted for core banking systems from IBM. It is providing different consultancy, integration and maintenance services packages for the two banks.
- IBM supplied Co-Operative Bank with Power Systems servers as well as storage and software as part of a major overhaul of the bank's systems.
- The deals with Co-operative Bank of Kenya and National Bank of Kenya will help "support their expansion strategies and increase profitability".
- IBM is providing IT services, hardware and software to the National Bank of Kenya as the bank updates its business.
- Family Bank and IBM signed an agreement to support the bank's drive to reach new markets and launch new products and services. The bank's regional expansion plan, alongside its introduction of new services such as mobile banking and mortgage facilities, has led the firm to transform its IT systems ahead of a planned listing on the Nairobi Stock Exchange in 2012.
IBM reports similar deals with more than 15 other banks in Africa.