Century Bank introduces e-banking

Century Bank, the innovative In-Store commercial bank, which is the latest entrant to the Zimbabwean banking market, is proving itself to be a distinctively IT-driven, customer-focused commercial bank. This is borne out by Century Bank`s proactive decision to enter the e-banking arena, and reinforced by the bank`s licensing of the Fontis Corporate Banking system.

The bank, which commenced operation on the 1^st of January 2001, operates 3 main business divisions, Corporate Banking, Treasury and In-Store banking through the OK and Bon March'e Supermarket retail chain. The Microsoft Windows NT-based Fontis Corporate Banking solution from Misys International Banking Systems (Misys) will serve the e-banking needs of Century`s growing corporate client base.

Through Fontis Corporate, Century Bank`s clients will have 24-hour access to a range of secure banking services. Using their own desktop PCs, clients will be able to view account balances, consolidated balances, and recent transaction history. In addition, they will be able to transfer funds between accounts and make third party payments as required. Other features of the solution include access to treasury information, including market commentary, and e-mail facilities.

Century Bank will also be able to take advantage of the seamless integration between Fontis and Equation, one of Misys` core banking systems, which resides in the bank`s back office. The powerful interfaces between the two solutions will assist the bank to set up its electronic banking system, launch and bring it to market within a significantly reduced time frame. In the future Century Bank will also have the option to provide its clients with Internet banking facilities based on the highly flexible and scalable Fontis architectural platform.

According to Ashbel Ndewere, Managing Director of Century Bank, "New as we are to the banking market in Zimbabwe, Century Bank wants to make sure that current and prospective corporate clients get the very best of service. The Fontis e-banking system benefits us in that we are very confident that we can offer the highest quality service, giving clients direct access to their accounts and various banking services via their own desktop PCs."

David Haggett, Misys` Branch Manager in Johannesburg says, "We are delighted to have been chosen as a technology partner to such a progressive, forward looking financial institution as Century Bank. We are confident that by utilising Fontis as well as other solutions in the Misys` suite of products, namely Equation and Cashier System, Century Bank will continue to pioneer the use of technology in the Zimbabwean banking market."