The first of its kind in
The system, BankFusion Universal Banking (BFUB), is being brought to AIB by
"Unlocking operational data from the core, FusionBanking Essence turns data into actionable intelligence - helping you identify new business opportunities," it says.
The CORE banking currently in use by the bank, Bankmaster, is a centralised system that handles all retail banking operations, such as savings, time deposits, loans, demand deposits, subsidiary ledger and general ledger. This application was also supplied by
The new system is being installed at a new three-room data centre in the basement of the Awash headquarters with one room each for, servers, network operation and power unite. The data centre is already housing servers for production, backup, test and disaster recovery, all newly supplied by
Once set up, Awash will be able to offer new services in internet banking, mobile banking, agent banking, portal transaction and point of sale, according to bank officials. The new system will minimise the cost of building new products and will also make processes easier, said another official close to the issue.
"It will increase the productivity and competiveness of the bank," he said.
Awash expects all tests for the new system to be completed and to begin service by the end of
AIB was established in 1991 with 486 founding shareholders and a paid-up capital of
Awash deployed 100 ATMs and 400 Point of Sale machines in
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