New Banking project in Africa for INTRASOFT International
INTRASOFT International has signed a contract with MWALIMU Commercial Bank (MCB) for the supply, installation and maintenance of PROFITS, INTRASOFT International's Core Banking System. The project, which will run for5 years (12-month implementation and 4-year maintenance), adds Tanzania to the group of African countries where INTRASOFT International is delivering high-quality products and services to its customers.
The PROFITS Core Banking System was selected after a very competitive and thorough selection process of an international tender. The System is utilizing business rule-based architecture and modularity to adapt to the specific needs of any financial institution, thus fully meeting its operational needs and ensuring rich business functionality and scalability. The project is starting in February, with the aim of being fully operational at the Bank opening before this summer.
This recent award will add to the Banking projects that INTRASOFT International has delivered or is currently implementing in Africa, as the company's five-year strategic plan to further penetrate the East African market is unfolding. As a part of this plan, INTRASOFT International has also recently established its subsidiary in Nairobi, Kenya, to advance its activities in the African continent.
During the signing of the agreement, Mr. Herman Kessy, MCB Board Chairperson, commented: "The agreement has set the stage for the Bank to be ready to serve Tanzanians in a few months. The installation of such a software system will optimize our operations, by creating a modern Bank, while remaining abreast of technological trends that give us the opportunity to successfully meet and exceed our customers' expectations, as we prepare ourselves to open our doors to them in May."
Mr. Alexandros Manos, Managing Director of INTRASOFT International commented: "We are very proud to have been selected by MWALIMU Commercial Bank as its Core Banking vendor of choice. This is a project of strategic value for INTRASOFT INTERNATIONAL, as it is our first success in Tanzania and a solid next step in our company's strategic plan to grow its presence and market share in Africa."
