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.
