Steward Bank CEO sheds light on latest system upgrade

Steward Bank, system upgrade, CEO, Money Transfer Senditoo Thunes

Steward Bank earlier this week announced that it is undertaking a core system upgrade. This latest system upgrade follows in a long line of efforts to get the bank back up to snuff. Many have been wondering what Steward is actually doing and we have speculated but to save from our own internal musings, the CEO of Steward Bank, Courage Mashavave, has in a press release said that the bank is migrating to a new banking platform.

The work on this migration has been going on for months according to the release. Currently, Steward is on the Temenos T24 core banking system and the bank is now upgrading to the latest R19 version of the software.

What is Temenos?

Temenos is an integrated core banking system solution which is sometimes referred to as the “all in one” technology resource. With this software financial institutions are equipped with tool to manage the entire workflow of banking operations both from the front end and the back end.

The Temenos system is used by over 1000 financial institutions worldwide including retail and corporate banks, treasuries, wealth management and payments services.

“We are excited to be finally cutting over to our new system this weekend. We are confident the new system, which is the latest version on the market, will vastly improve the customer experience in that it is significantly faster and a lot more robust and stable than the old version. because the new system is scalable and flexible, it will enable us to offer more products and services to more customers on a very secure and modern banking platform”

Courage Mashavave, Steward Bank CEO

The upgrade took nearly a year to complete

According to Steward Bank, this is the largest technology investment that Cassava Smartech Zimbabwe has made. The whole migration process is said to have taken close to a year to complete and the bank says that, when the system is active, customers will reap the benefits of the new platform.

The upgrade also follows Steward Bank upgrading its Square banking app, as well as relaunching the Visa Globetrotter mobile application.

3 comments

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  1. Anonymous

    Throwing software at a CULTURAL problem does not work. The culture of steward and indeed most of econet/ liquids stable needs to change to be actually customer orientated and not the “current couldn’t care less” or “let me pass the buck” culture there now

  2. T24_legend

    Just a correction R19 is NOT the latest version of the T24 banking software. The latest is T24 R20. Asante.

    1. Moses Mareya

      ….guess it’s was the latest commercially stable release at start of the one-year long migration/upgrade project. It’s wiser lest you become a guinea-pig and carry all the risks by taking on the very latest release before it settles.

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