CBG initiates Single Banking Application Platform

The Consolidated Bank Ghana (CBG) has created a single banking application platform, to enable it deliver to homogenous services to customers across all branches.

The upgraded Temenos24 (T24) application is a real-time core banking system which is designed to allow banks to scale quickly. It is currently the number one core banking application in the world, secure, robust and easy to interface with other tools and third-party applications.

It inherited different versions of the core banking application and a myriad of supporting applications and interfaces from the banks whose operations it assumed.

To enable it deliver customer service the bank had to employ several workarounds to ensure that there was some level of interconnectivity between the various databases it operated from.

One year after it started operations, the bank has successfully installed a new and upgraded version of the T24 core banking application and consolidated the various systems it inherited into a single CBG platform, fully integrating the operations of all its 114 branches.

The Managing Director of CBG, Daniel Wilson Addo in an interview reaffirmed the bank’s mission of providing simple, secure and differentiated banking experience by stating that the stage is now set for exciting banking experience for customers.

He explained further that, the bank leveraged the rich diversity of its staff to work faster and efficiently in consolidating its key systems. He paid glowing tribute to the project team who toiled night and day to ensure that the integration project was delivered on time and within budget.

He subsequently allayed worries of new system installations and upgrade. “We know some institutions struggle when they install new systems leading to a lot of downtimes but let me assure our customers that our people are already familiar with the application so we won’t have such challenges.”

Mr.  Addo commended customers of CBG for remaining loyal in the past one year, despite the teething challenges.

Addo added that, with the core banking application consolidated into a single platform, customers should expect a more excitingbanking experience.

However, CBG has seen a quick turnaround in its operation, a year after it was formed. It has posted its first profit and embarked on an aggressive communications campaign.

The bank’s 2019 Q2 results show a profit after tax of ¢41.1 million, representing about 280 per cent improvement on performance over the 2018 financial results.

Total assets of the bank also went up from ¢7.5 billion to ¢8.3 billion, representing a growth of 11% during the same period.