BankBI has been selected by Stanbic Bank Zambia to implement its business intelligence and analytics solution for regulatory reporting.
Stanbic Bank Zambia said the partnership will see it leverage BankBI’s financial banking analytics and reporting technology in order to increase productivity and reduce cost by automating its regulatory reporting requirements. By leveraging BankBI’s automated management and regulatory reporting capabilities, the bank, which is a subsidiary of South Africa’s Standard Bank, is looking to maximise efficiency in its reporting processes.
Graham Goble, CEO & founder of BankBI said, “We are delighted to have been selected by Stanbic Bank Zambia. BankBI’s standard staging table methodology enables us to transform data from a wide range of sources which, together with our highly configurable application, delivers a powerful combination for banking institutions looking to leverage technology to gain efficiencies, cut cost and save time”.
BankBI’s solution will be interfaced to Stanbic’s core banking system, Infosys’ Finacle. Established in 2012, BankBI targets banks, credit unions and microfinance entities. It has a single multi-tenant BI solution deployed for all its customers in the Microsoft Azure cloud. It claims to have around 60 clients across 40 countries, including international microfinance networks VisionFund and Microcred, and US-based Ideal Credit Union and Our Community Credit Union.
Mwindwa Siakalima, CFO of Stanbic Bank Zambia added: “We are looking forward to working with the BankBI team. During the selection process they demonstrated a clear understanding of our reporting needs. Their proven capabilities makes for a compelling model for institutions such as ourselves”.
Earlier this year, STOXX, the operator of Deutsche Börse Group’s index business, partnered with RiskFirst, a provider of risk analytics and reporting. AxiomSL, a provider of regulatory reporting and risk management solutions, also recently launched a new solution to address IFRS 17 requirements.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
