Mainstreet Bank Goes Live on Finacle v10

Mainstreet Bank Limited, one of the leading commercial banks in Nigeria, has successfully deployed Infosys Finacle version 10.2.0.9 core banking application to drive the bank’s technology transformation, deliver superior customer service and help customers achieve their financial goals.

Finacle, a comprehensive, integrated, modular and agile business solution addressing all the core needs of banks, is being implemented and supported by Infosys and Computer Warehouse Group (CWG), Infosys sole Business Alliance Partner in Nigeria with offices in Nigeria, Ghana, Uganda, and Cameroon.

Finacle provides all the building blocks of business functionality, which will enable Mainstreet Bank users to configure products and processes flexibly to adapt to a dynamic environment.

With a 360 degree single source view into customer accounts, Mainstreet Bank will have the ability to empower customers with relevant information and deliver right fit, real-time services through the preferred usage channel.

Anogwi Anyanwu, executive director, Operations and IT Mainstreet Bank who spearheaded the Mainstreet Bank team in the implementation of the Finacle version 10, expressed optimism, that Finacle version 10 would improve the operations capacity of the bank.
 
He is positive that with the successful implementation of Finacle, Mainstreet Bank is now well positioned to provide world class services to its customers.

Also speaking on Finacle deployment, Faith Tuedor-Mathews, group managing director/chief executive officer, Mainstreet Bank Limited, said that “The new banking application will support the innovative products and services we want to launch into the market to delight our customers.

Finacle is a robust system that will also provide the platform upon which all our service touch points including alternative channels like ATMs, mobile and internet banking, collection services, and other e-banking media will operate with utmost efficiency.”

She added. “We have re-engineered our banking system and have achieved a new positioning which has seen us attract the best talents in the Nigerian Banking Industry. Our disciplined approach to investment and risk management has positioned us to deliver increased value to all our stakeholders,”

VenkatramanaGosavi, regional head, Growth Markets Infosys Finacle said  “It is an exciting opportunity for us to partner with Mainstreet Bank in their banking transformation agenda. We look forward to helping the bank deliver value oriented banking experience to its customers, while accelerating growth and roll-out of new products and services.  The successful implementation at Mainstreet Bank, along with CWG our local partner, reinforces Finacle’s position as the leading technology provider for banks in Nigeria.”
 
Mr. Femi Ibine, software Division Hhead of CWG, said “We are delighted to be a part of this success story and are strongly committed to ensuring that Mainstreet Bank, like all other Finacle customers in West Africa, enjoys the best support services from CWG’s 24×7 Support Hub located in Lagos, Nigeria”.

James Agada, chief technology officer, Computer Warehouse Group, who led the CWG team that worked on the Mainstreet project, expressed his gratitude to the various teams—CWG, Infosys and Mainstreet bank—for the teamwork and diligent professionalism they brought to the project, which contributed immensely to the excellent and timely delivery of the project.
“Considering the technology value embedded in Finacle 10, it is certain that Mainstreet Bank will deliver value to their customers” He says.
Austin Okere, founder and chief executive officer, Computer Warehouse Group was delighted about this new development in Mainstreet Bank and believes it will result in improved customer service for Mainstreet Bank, and enable the bank to excel and compete with leading brands in the industry

Okere, who is passionate about enabling businesses with cutting-edge technology, congratulated Tuedor-Mathews and the management of the bank for taking the right decision to deploy Finacle version 10 Core banking applications.
 
According to Austin, “It is not enough to know the appropriate technology to run a bank you must be determined to acquire and use the best.”
 
Infosys and CWG have implemented the Finacle core banking software for about 55% of the banks in Nigeria, including FBN, UBA, Stanbic Bank, FCMB and Fidelity bank among others.