Nov 07, 2013
Bangalore, October 23rd 2013 - Tetrad Investment Bank, a leading merchant banking services provider in Zimbabwe, announced that they have chosen Infosys Finacle as their technology partner. Finacle will power Tetrad Bank's Core Banking, Wealth Management, Customer Relationship Management (CRM), Online banking, Mobile Banking and Alerts capabilities in its evolution from a merchant bank to a top-tier commercial bank in the region.
The suite of solutions will enable Tetrad Bank to automate banking operations, expand reach through multiple new channels and launch targeted offerings to retail customers. It will also help the bank scale its services to meet the needs of its growing retail customer base.
Tetrad Investment Bank is in the process of converting from a merchant bank to a commercial bank, for which it needed a robust, scalable and future-ready core banking and surround solutions suite.
The Finacle solution will enable the bank to broaden its services spectrum and address retail banking needs of its customers.
In addition to delivering all-round retail banking capabilities, the solution will seamlessly interface with existing applications in the bank, ensuring no loss of business continuity.
Tetrad Investment Bank's manual processes will be optimized by the straight-through processing (STP) of the solution. It will also enable scalability to meet future growth in customers, transactions and accounts.
Tineyi Mawocha, Managing Director, Tetrad Investment Bank: "As one of the last merchant banks in Zimbabwe, we are now in the process of converting to a commercial bank. We are pleased to have Infosys Finacle as our partner for enabling our banking system. We are confident that this partnership will help us provide convenient and innovative solutions to our customers as well as widen our product range. After a rigorous evaluation of multiple other core banking vendors, Finacle was chosen for its superior features, functionality, flexibility, history of implementation successes in Africa, and reliable after-sales service."
Venkatramana Gosavi, Regional Head, Growth Markets, Infosys Finacle: "Tetrad is our first core banking customer in Zimbabwe and we are committed to supporting the bank's transition to a full services commercial entity to deliver value to its customers. With Finacle, the bank will be able to launch new products and services much faster and provide world-class service to their clients. This partnership is a strong reflection of Finacle's flexibility in catering to the needs of diverse markets and institutions, particularly in the African region."
Re-disseminated by The Asian Banker