Central banks in southern and eastern Africa are to implement a "watchdog" solution to help them monitor the activities of commercial banks.
T-Systems SA designed the solution for the Eastern and Southern Africa Banking Supervision Group, whose function is to monitor and regulate the activities of commercial banks.
The pilot project, sponsored by Mozambique`s central bank, Banco de Mocambique, with an initial outlay of R6.9 million for solution development, is to go live in the last quarter of this year.
The rest of Africa will see the roll-out between the beginning of next year and the end of 2004.
"This solution will create centralised information for analysts and supervisors to capture any problems that may arise for a particular supervised institution," says Banco De Mocambique IT director Paulo Maculuve.
"The problem can then be communicated, in time, through the approval cycle for the necessary procedures to prevent systemic risk. The solution is a combination of Web and client server-based technology."
Andre Harington, project manager at T-Systems SA, says the solution, Banking Supervision Application, will help central bank supervisors manage the approval of applications for commercial banks, consolidate information relating to institutions and capture shareholder details, which will support decisions regarding new applications.
"This provides the entire region with a tool that will create a standardised approach to dealing with and regulating the commercial banks."
Harington says the application brought together the worlds of Microsoft .Net and IBM Lotus` Domino 6 (Beta Software).
He says the deal has provided T-Systems SA with good exposure in Africa, as it is dealing with 14 countries in the region.
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