Bank of Baroda Uganda licenses Neptune Software's Equinox banking. Software with Neptune's Equinox. Core banking system provider. Using Equinox. This is probably the third time I’m writing about core banking software in Nigeria. I did that in 2011 and it’s interesting to see how banking software have. Apr 17, 2011 Top 40 Core Banking Solutions. Ambit EBS (Enterprise Banking Suite) core banking. Orbit microfinance retail banking, Equinox. BANCOS Core Banking. BANCOS Core Banking contains the following modules. BANCOS General Ledger (the only ‚mandatory’ BANCOS module with any implementation).
One of Uganda’s largest microfinance banks, Centenary Bank, has embarked on a core banking system selection process. Centenary Bank, a large microfinance bank in Uganda, has issued an RFP for supply, implementation and support of a core banking system. The bank has 1. Fixing Cracked Concrete Block Wall. 3 million customers, 58 full-service branches and 130 ATMs across Uganda, and was known to be pondering system selection in mid-2012 (). According to the advert published by the bank in the local press, the contract will be awarded to the offering with ‘the highest technical score, the best strategic fit, the lowest solution risk and most favourable solution cost’.
The system selection is being carried out with assistance from a local unit of PricewaterhouseCoopers (PwC). A complete set of the RFP documents (in English) can be purchased from them for $100 (non-refundable), by contacting. The closing date for receiving bids is set for 5th March 2013, 10am East African Standard time. Centenary Bank is a long-standing user of the Equinox core banking system from (and was one of the first Equinox takers). The system was purchased in early 2002 to replace an in-house development. Neptune’s offering was preferred to ‘ Finacle, ‘ Bankmaster, I-flex/‘s Flexcube, and ‘ Globus (now T24). At the time, the bank had 18 branches.
There is no doubt that Neptune was able to considerably undercut its rivals due to its relatively low overheads and the ability to use local staff. Another influence cited by Centenary Bank’s management at the time was the fact that Equinox was already tailored for the local market and, in particular, could handle its model of banking, based on a large number of very small sums, as well as provide offline support for branches in remote rural areas where telecommunications failures were common. To share your thoughts on this article, please use the comments box below. Related research from IBS Intelligence: This guide sets out a structured approach which will help purchasers make the right decisions and demonstrate the diligence of their actions. It offers in-depth and unbiased guidance on the planning of a successful project, with particular focus on the use of intelligence garnered during the selection process to anticipate issues and barriers, highlighting proven best practice along the way. For the second year running, IBS Intelligence embarked on an extensive market survey and benchmarking exercise, with 101 banks of all sizes (Tier 1-6) responding across 56 countries, comprising a diverse spread of geographical locations in all continents.