The bank, which has an estimated 8.7 million customers, had to deal with a public relations crisis last year following widespread system breakdown.
"We are not shy to say there were hiccups, but we have now stabilised," said
Rapid customer growth had strained its previous system, which was installed in 2004. The new system, Finacle Version 10, can process one million transactions simultaneously compared with the previous system's 300,000.
The new system will also enable customers to access their accounts across the five countries where Equity has operations.
Last year, Equity customers complained of system failures especially during the end-month peak period when it was clogged with high volumes of transactions.
As at September last year, Equity was processing 7.5 million cash transactions a month, with ATMs being the most common channel of transacting.
The bank has over 200 branches in the region, 700 ATMs outlets and 8,612 agents.
Banks have been upgrading or changing their core banking systems to enable the customers' migration to online and mobile phone-based transactions.
Other lenders that have recently changed their core systems include KCB, which attributed its 18 per cent growth in operating costs in 2010 to the change,
Equity, however, hopes that its cost-to-income ratio will improve, helped by greater efficiency of the new operating system.
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