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IBL chooses innovative Internet banking solution in partnership with Software Group to increase self-service capabilities for customers in Liberia

Johannesburg, 30 Jun 2020
Read time 2min 00sec

In May 2020, the International Bank of Liberia (IBL), one of the strongest and most reputable banks in the country, started a project to replace its existing Internet banking system with a new cutting-edge solution based on Software Group’s DigiWave Digital Banking platform.

The technology will help IBL expand its client base and increase the self-service capabilities offered to both retail and corporate customers, supporting the social distancing call during the pandemics, and ensuring the bank’s leading position after the crisis. It will also improve branch productivity by reducing front-desk customer operations.

By enabling easy, convenient and secure 24/7 access to banking services, the new Internet banking channel will significantly enhance customer experience. IBL individual customers will be able to manage their finances from anywhere, empowered by a rich set of functionalities, such as self-service onboarding, balance and transaction enquiries, digital loan origination and repayment, card management, various transactions, smart alerts and more. One of the key newly available functionalities for corporate clients will be the ability to make quick bulk payments such as salaries, government intervention programmes, etc.

“Following our vision to invest in better and smarter customer-centric technology, we are delighted to have Software Group as a long-term partner in our digital transformation journey. The Internet banking channel will allow our customers a better and safer banking experience during the COVID-19 pandemic and will help us maintain strong positions after the crisis is over,“ commented Henry Saamoi, CEO of International Bank of Liberia.

“In the current unprecedented situation, customers are relying more than ever on their trusted financial institutions for convenient and secure remote ways of banking. We are proud to partner with IBL under the leadership of Mr Saamoi, who strongly believes in investing in their customers and partners in times of challenge and beyond,” commented Craig Albertson, Business Development Director – Anglophone Africa.

IBL started its digital transformation journey in partnership with Software Group in 2017. The bank has already launched a set of solutions, including ATM, anti-money laundering (AML), card management and POS management, and mobile banking, which have helped them offer more value to customers and bring their operations to the next level.

The International Bank (Liberia) Limited (IBL)

The International Bank (Liberia) Limited (IBL) is one of the strongest and oldest banks in Liberia with solid international standards. The company originated from the International

Trust Company (ITC) of Liberia, founded in 1948. In 1960, ITC opened a commercial banking department with a commitment to handling customer accounts, money transfers, loans, and letters of credit. The management team of the company consists of younglocal professionals with many years of experience in banking and with a strong commitment to excellence.

Software Group

Software Group is a global technology company specialized in digitalization and integration solutions for institutions that provide financial services. Founded in 2009 and headquartered in Sofia, Bulgaria, it currently serves a worldwide client base in more than 70 countries from 9 regional offices located in Australia, Bulgaria, Egypt, Ghana, India, Kenya, Mexico, the Philippines and the USA. Some of Software Group’s customers are organizations such as Bill & Melinda Gates Foundation, MasterCard & MasterCard Foundation, International Finance Corporation (IFC), World Bank, Asia Development Bank, 7 of the 10 biggest Microfinance networks, Asia Confederation of Credit Unions (ACCU), Allianz Bank Bulgaria, Atlantic Bank, Bank South Pacific, Commercial International Bank Egypt, and others.

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