Equity Bank Group together with Infosys Technology, IBM, Oracle and Open Way Group today unveiled the successful upgrade of the Group’s integrated and robust IT platform which will enable the Bank roll out its future technology driven innovative products, provide comprehensive business functionality and enhance customer experience.  


Equity Bank core banking system has now been upgraded to Finacle 10. The enhanced solution allows over 8.7 million Equity Bank customers to transact seamlessly across five countries- Kenya, Uganda, Rwanda, Tanzania and South Sudan. Finacle will support the Bank’s efforts to roll out offerings faster, explore new lines of business and deliver a superior banking experience to its customers.


Equity Bank’s multi-country operations will now run on a single instance of Finacle, which is deployed centrally. This helps the Bank save on infrastructure and maintenance costs, while ensuring a 360 degree view of customer relationships. A unified view of customers allows the Bank to offer personalized products and services. Seamless integration across multiple channels and third party systems will facilitate productivity improvements across the Bank. New accounts can be opened in less than five minutes.


The Bank has also enhanced its storage facilities by acquiring and installing the latest enterprise IBM DS8800 storage system to cater for increased storage and processing requirements. The Bank has installed IBMs latest Power 7 systems – p795 to power the Bank’s core banking. This makes its data storage and processing capability the best and most robust in the region.


To further enhance the speed and cope with volume transactions from ATMS, mobile and all self-service channels and analytics, Equity Bank has implemented Oracle SuperCluster. This is Oracle’s fastest and most scalable engineered systems with a capability of supporting more than one million transactions concurrently. The systems deliver extreme performance, the highest consolidation availability and efficiency and eliminate risks of build-it-yourself architecture. This system will ensure the Bank offers customers a delightful experience through high performance and availability of the card and mobile transactions


To support a one-stop payment gateway, Equity Bank has upgraded to Way4 payment switch from OpenWay Group for enhanced payment processing and expanded acquisition strategies including mobile transactions. The system has the capability to acquire and authorize all major cards in the world today like Visa, MasterCard, American Express, JCB and CUP. The system also supports transactions originating from contactless devices, ecommerce websites, mobile devices, merchant and Payment Associations. Way4 is EMV compliant with card personalization and instant issuing features.  


Speaking while unveiling the new technology platform, Dr. James Mwangi who was in the presence of Peter Hunt, Oracle’s Senior Systems Sales Director -North and East Africa, Lebanon and Jordan; Wim Pardon, CEO OpenWay Group; Nicholas Nesbitt General Manager IBM Eastern Africa and Venkataramana Gosavi, Vice President and Regional Head – Growth Markets, Finacle, Infosys said, “Equity Bank has led the way in fostering financial inclusion. We have created products and services for customers across all segments, starting from the bottom of the pyramid. Our vision is to empower our customers and grow with them to champion the socio-economic prosperity of the people of Africa. We thank our partners, Infosys, IBM, Open Way and Oracle who have walked with us in this venture. We look forward to taking new offerings to our customers faster and grow our market share.”


Venkataramana Gosavi, Vice President and Regional Head – Growth Markets, Finacle, Infosys said, “Africa is experiencing rapid economic growth. It is imperative that banks take advantage of modern technology to realize their true potential in this dynamically growing market. We are privileged to have been a part of the success story that Equity Bank has scripted over the past decade. Our journey with Equity Bank is a great example of how financial institutions can accelerate growth and delight customers with the right technology foundation.”

Related stories

Equity Group Secures Its Shareholders Nod for a Kshs 20billion Pan African Expansion Bid

The shareholders of Equity Group Holdings (formerly Equity Bank Limited), have approved a raft of...

View More
Equity Group Now Listed on the Rwandan Bourse

The regional integrated financial services firm, with banking interests in Rwanda, Uganda, South...

View More
Equity Bank Announces Instant Issuing of Autobranch Visa Cards in Rwanda

Equity Bank Rwanda has kicked off a corporate initiative to instantly issue Automated Teller Machine...

View More
Equity Bank Unveils Mvno Strategy and Rollout Plan

Equity Bank today unveiled its Mobile Virtual Network Operator (MVNO) strategy and rollout plan that...

View More
Regional Expansion and Diversification Strategy Pays Off as Equity Bank Posts a 21% Growth

Emerging from a depressed operating economic environment as well as challenges posed by the recent...

View More
Equity Bank Group’s Investment in Ict and Focus on Sme Boosts Profits by 11% in the 2013

Equity Bank Group’s investments in IT, growth in the number of customers and branch upgrades to...

View More
Equity Bank Group Strengthens Its Fundamentals While Expenses Of ICT, Innovation And Product Rollout

Equity Bank Group’s focus on enhancing affordability, accessibility and convenience has seen its...

View More
Equity Bank’s Focus on Innovation Boosts First Half Year 2013 Profit

Regional banking group, Equity Bank's reduction of interest rates by 700 bps from 25% to 18% has...

View More
Equity Bank Profit Before Tax Up 21 Percent in First Quarter 2013

The Group posted a profit before tax of Kshs 4.52 billion up from Kshs 3.73 billion posted during a...

View More
Equity Bank’s Strategy Increases Profits by 36 Percent

The Group’s total assets posted a 24% growth during the year to close at Ksh 243 billion up from...

View More
MasterCard and Equity Bank Announce Partnership to Introduce PayPass™ Enabled Cards

Partnership to increase financial inclusion and boost EMV migration efforts in the region.

View More
Equity Group Foundation Appoints Dr. Helen Gichohi as Managing Director

Dr. James Mwangi, Equity Bank Group CEO and Chairman of Equity Group Foundation has announced the...

View More
Dr. James Mwangi Wins ‘forbes Africa Person of the Year Award 2012’

The ceremony was organised by the eventing arm of the ABN Group - ABN Productions.

View More
Equity Bank Group Partners With China Union Pay

Equity Bank Group has today launched a partnership with China Union Pay, which will allow UnionPay...

View More
Equity Bank Group Pre-tax Profit Up by 30%

Equity Bank Group continued to defy macro-economic turbulence to maintain steady growth and posted a...

View More
Equity Bank Ceo Awarded Business Leader of the Year

The prestigious award presented by CNBC Africa in South Africa for the second year running is a...

View More
Appointments at Equity Bank Group

Dr James Mwangi today at Equity Centre announced two key appointments in the Equity Bank Group’s...

View More
Equity Bank Ceo Gets Two Appointments

Dr Mwangi will serve as a council member of the G8 New Alliance for Food Security and a member of...

View More
Equity Bank CEO joins Global Alliance for Food Security and Nutrition

Membership in the Leadership Council is by agreement and invitation of the Co-Chairs and Council...

View More
21 Equity Bank Scholars Receive Scholarships to Study in World Leading Universities in 2012

21 scholars in the Equity Bank university sponsorship program have so far received scholarships in...

View More
Equity Bank Profit Before Tax Grows by 29%

Regional banking group, Equity Bank continued to maintain its growth momentum with the profit before...

View More
James Mwangi: Africa's Inclusive Finance Guru Is World's Best Entrepreneur

Africa's Inclusive Finance Guru Is World's Best Entrepreneur

View More
Equity Bank CEO wins 2012 Ernst & Young World Entrepreneur of the Year 2012

Dr. James Mwangi, CEO and Managing Director of Equity Bank is the 2012 Ernst & Young World...

View More
Equity Bank Ceo Receives 2012 World Entrepreneur of the Year Nomination

After winning the 2011 East Africa Master Entrepreneur of the Year by Ernst & Young, Equity Bank...

View More
Equity Bank Awarded Best Managed Company in Africa Banking & Finance Sector

Equity Bank has been awarded Best Managed Company in Africa;

View More
Equity Bank Named Best Bank in Kenya

Equity Bank has been named the Best Bank in Kenya this year as the CEO Dr James Mwangi received the...

View More
BBC News - Kenyan Hopes to Open Up Banking to the Poor

"People are driven by emotions and it's all about the enthusiasm of liberating our people" Said Dr....

Watch Video
Equity Bank Rwanda PLC family contributes about 22,225 Testing Kits worth RWF 1Billion to the Government of Rwanda in Support of National Efforts of combating COVID-19

Equity Bank Rwanda made a contribution of 22,225 testing kits at a cost of FRW 1Billion to the...

View More
Equity Rwanda unveils new look with renewed commitment to enhance growth and financial inclusion through seamless customer experience

Brand refresh is geared towards positioning the brand to empower individuals, businesses and the...

View More
Equity Bank Rwanda Scoops Top Honours at The Banker’s Bank of the Year Awards 2020

The Bank emerged top in class for clearly exhibiting a strong fiscal performance in the financial...

View More
Equity Bolsters its Support to Small and Medium Sized Enterprises in Kenya, Uganda, Rwanda & DRC with USD 75 Million (Kshs 8.25 Billion) Women Guarantee Fund with African Guarantee Fund (AGF)

The African Guarantee Fund (AGF) and Equity Group Holdings Plc have signed an agreement which will...

View More
Equity Group Holdings Plans Trans-Africa Expansion with USD $100 Million (Ksh 11 Billion) Loan from the African Development Bank (AfDB)

Equity Group Holdings (EGH) has signed a USD $100 million loan (Ksh 11 Billion) facility to support...

View More
Service finder
Equity Bank is Regulated by Central Bank