WARNING: This is Version 1 of my old archive, so Photos will NOT work and many links will NOT work. But you can find articles by searching on the Titles. There is a lot of information in this archive. Use the SEARCH BAR at the top right. Prior to December 2012; I was a pro-Christian type of Conservative. I was unaware of the mass of Jewish lies in history, especially the lies regarding WW2 and Hitler. So in here you will find pro-Jewish and pro-Israel material. I was definitely WRONG about the Boeremag and Janusz Walus. They were for real.
Original Post Date: 2010-09-21 Time: 12:00:03 Posted By: News Poster
By Eden Sahle
Bank of Abyssinia (BoA) has joined the Commercial Bank of Ethiopia (CBE) in selecting Temenos Group AG for its centralised, online, real-time electronic (CORE) banking solutions on Wednesday, September 15, 2010.
The bank, which has been trying to implement CORE banking since 2004, floated two unsuccessful tenders before short listing four out of the 11 international companies it invited, in July 2010, for the tender it had floated in December 2009.
The agreement for the procurement was signed by Addisu Habba, president of BoA, and Keith Stonell, regional director and management board member of Temenos, at the bank’s head office.
“Although the bank tried to procure a CORE banking vendor twice since 2004, it has failed because agreements could not be reached,” Addisu told Fortune. “Now, the bank has been successful in selecting Temenos after seven months of ups and downs.”
BoA took a long time to evaluate the financial and technical proposals of the vendors it had invited for this tender. Once it had shortlisted the four prospective ones – Temenos Group, InfraSoft Tech, InfoSys, and Oracle Financial Services – the bank sent a group of high-up officials, led by Anteneh Assefa, vice president of the bank, to Kenya to visit the banks these vendors had installed the system for.
Following the visit, the officials had difficulty in making a decision and contemplated having three of the four install different components of the banking system, according to sources close to the bank.
In the end, Temenos, a Swiss company, won the bid to install the system to connect the bank’s 48 branches to its headquarters.
“We expect the system to be implemented within five to seven months,” the president of the bank, which has 270,000 depositors, told Fortune. “Once the system is installed, we will be able to provide internet and mobile banking and automated teller machine (ATM) services to our customers.”
This timeframe would put the bank within the deadline of the end of June 2011, by which all commercial banks must use CORE banking to conduct business with the National Bank of Ethiopia (NBE).
The central bank selected Motran and Ernst & Young (EY) at a cost of 2.2 million dollars to implement a national payment system (NPS), an integrated solution for the clearing and settlement of all interbank electronic payments, in July 2010.
Although one of the early entrants to the banking sector, BoA, established in February 1996 with a capital of 18 million Br, has been slow in implementing electronic banking in comparison to younger banks.
“The selection of Temenos’s T/24 software, which has a broad range of services, will provide BoA with the latest technology in banking software,” Stonell told Fortune.
Temenos was awarded the bid to install CORE banking systems for the state owned CBE for 70 million Br in June 2010.
Seeing that the amount BoA paid for the deal could affect other tenders Temenos is bidding for, if it were known, Addisu was unwilling to say how much they had agreed upon.
Original date published: 21 September 2010
Source: http://allafrica.com/stories/201009210217.html?viewall=1