AccessBank T24 Implementation Project
2011-09-30 - 2013-09-30
Since 2006 LFS is providing AccessHolding network banks with the self-developed core banking system LFS MBS and affiliated services and support. The LFS MicroBank System® is an integrated software package able to manage all banking operations in small and medium sized banks. Certain network banks are experiencing or are expected to experience rapid growth that lies above the network average. This results in a parallel rapid expansion of client base and products and thus transactions. Accordingly, it was decided that certain banks are to be equipped with an even more comprehensive core banking system that allows a greater degree of flexibility and integration of peripheral systems. On the basis of extensive scoping and market research missions LFS implemented a tender process to identify the system most suited to the banks’ current and future needs. As a result, LFS entered into a master agreement with TEMENOS SA that provides the core banking system T24.
On the basis of the previous cooperation with TEMENOS on the previous T24 implementation project in AccessBank Tajikistan and the resulting experiences the T24 Implementation project in AccessBank commenced in September 2011. LFS with its subcontractor TEMENOS manages and performs the migration of the bank’s legacy software to LFS Model Bank (LMB) based on T24forMCB. This comprehensive banking platform enables AccessBank to handle growing client and transaction numbers and provide a wide range of banking products including innovative new products in the market. Additionally, the new software enhances the bank’s control and risk management tools and ensures smooth and diligent operations in a changing environment.
Areas covered by the Services:
Scoping and Business Requirements Analysis
Software Development and Testing
User Acceptance Testing
During the performance of the tasks LFS Financial Systems GmbH involves a dedicated team of Access Bank’s own staff into the performance of tasks. The Software covers the entire lending business of the bank, including SME lending, microlending, agrolending, consumer lending etc., provides trade finance functionalities, retail services including deposit and savings’ products, card services etc., full accounting and money market functionalities., teller and other ancillary functionalities.
Support and Maintenance will be provided by LFS Financial Systems as well, however based on a separate contract.
LFS Model Bank (LMB) is planned as the future banking system for AccessBank based on T24forMCB