-Consolidated bank of Kenya is inviting bids for the supply, installation and commissioning of a core banking system. A core banking system is essentially an application or a platform that support a bank's operations where CORE stands for "centralized online real-time exchange". This basically entails that all the bank's branches access applications from centralized location, meaning that the deposits made are reflected immediately on the bank's servers and the customer can withdraw the deposited money from any of the bank's branches throughout the world (branch-less banking). The application also has the capability to address the needs of corporate customers, providing a comprehensive banking solution.
-Consolidated bank was incorporated in 1989 as an effort to stabilize the financial sector through acquisition of nine insolvent institutions, restructuring them into a viable professionally run commercial bank. The bank aims to be the most respected SME bank in the country and is popular with its LPO financing for smes, it provides upto 80% cost of the LPO, and requires no security.
-The Bank is fully owned by the Government with the majority shareholding in the Bank (51%) held by the Treasury through the Deposit Protection Fund. The remaining shareholding is spread over twenty five (25) parastatals and other government related/controlled organizations.
-Released financial results for the bank for the year 2010 was Kshs. 257 million (pretax).
-Core banking system used by KCB is
Temenos T24 ranked third best by
iranking-Equity uses
Finacle by infosys technology, and also uses
Bank Realm on Web application for internet banking developed by
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Core Banking Sytem for Consolidated bank
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