September 20, 2006
Nigeria: First Bank Engages Indian Coy for IT Backbone
FirstBank group has signed on Nucleus Software Exports Limited, an Indian company to provide a new IT backbone, the FinnOne Suite to the bank.
According to the bank, it is expected that the solution, Nucleus' flagship technology which will support the whole spectrum of credit offerings of FirstBank, will be implemented across the Bank's 396 branch network.
This contract heralds Nucleus' entry into the African banking industry.
Mr Jide Ogundele who signed the statement announcing the new software said at a colourful ceremony attended by the Bank's Chairman, Dr. Umaru Mutallab; the Managing Director/Chief Executive, Mr. Moyo Ajekigbe; Prince Ajibola Afonja, a director and all the Executive Directors, in New Delhi, India recently signatories to the relationship recalled with nostalgia that FirstBank had similarly pioneered the adoption and introduction of Finnacle, another Indian software in the West African Sub-region.
"We were excited at the prospect of partnering with a leading African bank with world class lending operations across its branches in the West African region. This win is in line with our overall strategy to aggressively target unconventional markets and assume leadership in those regions. We have done this successfully in the past, and we are optimistic that this implementation will be the first in many more to follow," stated Vishnu Dusad, Managing Director, Nucleus Software Exports Limited.