Union Bank of Nigeria PLC has concluded arrangement to upgrade and

re-implement its core banking application Flexcube to make it robust

enough to support  the bank’s future initiative.

Its chief information officer, Mr. Yomi Akinade, who confirmed this

while speaking with the representatives of the communication

sub-committee of the project, said that the implementation project

became necessary because the flexcube currently run by the bank was

inadequate, flawed and not capable of supporting the growth plans of

the bank’s business requirements.

He noted that the project would improve the service delivery

capability of the bank and bolster its ability to compete with its

peers in the industry, adding that specifically, by re-implementing

the core banking application, Union Bank would ensure that all the

business requirements of key activities, such as branch operations,

clearing, settlement, funds transfer, loans, money markets, foreign

exchange, securities,among others, could be processed successfully and

efficiently.

Akinade, emphasized that the project would also enhManagement Office

had been coordinating a weekly meeting of the implementation project

committee which consisted of various heads or representatives of

strategic and functional units within the bank and with the core

mandate of ensuring that the project meets every set objective and

re-position the bank for operational effectivenessance the bank’s

ability to process customers’ transactions and deliver services

efficiently and  speedily, pointing out that meeting customers’

individual and unique requirements It would be recalled that the

bank’s Project Management Office had been co-ordinating a weekly

meeting of the pre-implementation project committee which consisted of

various heads or representatives of strategic and functional units

within the bank and with the core mandate of ensuring that the project

met every set objective of the bank and re-position it for operational

effectiveness.

would be achieved because of the application’s flexibility and hinted

that the Project Management Office would work with departments like

Information Technology, Operations, Internal Control, Branch

Co-ordination, Risk Management, R-business and the business facing

departments, such as Retail, Commercial and Corporate.