Instrumented Interconnecteds Intelligent

Ademola Adewale,  Executive Director, Operations & Technology,  Keystone Bank Limited

Ademola Adewale,
Executive Director, Operations & Technology,
Keystone Bank Limited

By Ademola Adewale

The next phase of banking sector reforms and consolidations in Africa’s most populous nation will be driven, not by the industry regulator or by industry or market forces but, by technology, technology and technology.

Computing technology has become a key business driver for Keystone Bank as we embark on a comprehensive overhaul of our systems, processes and human resource assets and capabilities.

Like financial services institutions all over the world, Nigerian banks are increasingly realizing the transformative powers that technology can inject into their products/service delivery offerings and by extension, their reputations and expanding balance sheets.

Technology has become a must-have tool. Previously perceived as a good-to-have box of machines used to automate back-end operational processes, computing technology has now permeated all the facets of banking operations from the back office IT and computational functions, to the banking halls, right through to the fingers of customers at the ATM or Point-Of-Sales (PoS) terminals.

Beyond their roles as financial intermediaries and corporate entities helping to drive and support government’s nation-wide economic growth and development agenda through their investment, trade financing and deposit mobilization activities, Nigerian banks are also beginning to see tangible benefits in-house as they experience increased efficiencies and a revamp of their corporate cultures. This is the silent experience of technology utilization at Keystone Bank, a mid-sized Nigerian financial institution licensed in August 2011.

At Keystone Bank, a new dawn beckons. Thanks to our investments in the latest, best-in-class server technology, end-to-end implementation and excellent partnership and support from IBM, old ways of “functioning” have given way to new IT systems, a fresh and innovative service delivery culture, and a customer-centric operational attitude.

Our vision of setting the pace in financial services delivery predicated on robust technology platform has become a reality.

Based on the implementation of the IBM Power Systems and other top rated banking solutions, Keystone Bank has been positioned as one of the leading banks in the use of technology for delivery of excellent services and innovative solutions in the industry.

As a technology driven bank, the IBM Power Systems Enterprise Servers have improved the up-time of the Bank’s Automated Teller Machines, PoS machine, and the speed of e-banking transactions; we are, thus, well positioned to deliver excellent services in support of the Central Bank of Nigeria, Cash-less policy.

We are now in the era of Big Data. Industry statistics estimate that banks in emerging markets spend between 7-10 percent of their operating income on managing data.

Big Data imposes a fresh set of challenges for banks – the integrity and security of customers transactional information and data, data mining and analytics, business growth and exponential growth of data volumes, just to list a few. Our extant working relationship with IBM has proven to be timely tonic for the Bank.

Keystone Bank’s IBM Power Systems have enhanced the bank’s computing capabilities. Our back-end operational processes have significantly improved to higher efficiency levels hitherto unseen in the history of the bank and our ability to service internal and external stakeholders of the bank has been strengthened.

Keystone Bank’s history reflects an enduring tradition of embracing change. As the Bank’s management team prepares for its next phase of business transformation and growth, technology will no doubt enable it deploy Smarter Banking concepts and principles.

Bookmark and Share

Previous post

Next post

5 Comments
 
July 29, 2013
4:00 pm

I was very happy to seek out this net-site.I needed to thanks in your time for this excellent read!! I undoubtedly enjoying every little bit of it and I have you bookmarked to check out new stuff you blog post.


Posted by: Vicki Gudmundsson
 
July 25, 2013
4:50 pm
May 31, 2013
4:15 am

this is not a comment, its an inquiry.. i learnt that if i open an account with N17,000, in key stone bank i automatically get an ipad.. is it true?


Posted by: vincent
 
May 23, 2013
8:16 am

Your key word has been… Tech, Tech, Tech..for sure a must have tool if you are going to stay competitive…as in second to none in the industry. I have no doubt you’ll deliver given the make up of your management. Its pretty tight. Given that machines are as good as the users your investment in staff overhaul and in capacity building alongside the acquisition of the ‘new’ IBM machines should no doubt enhance your banking capabilities by way of the integrity and security of customers transactional information and data, data mining and analytics, business growth resulting in exponential growth of data volumes under your care,etc. This is quite commendable because with improved computing tech, delivery tech,..and a comprehensive overhaul of systems processes and human resources ..to reflect from the back office effects to EFTs, ATMs and POS..etc..end to end wrap around, plus location, location, location(because in addition, business and service delivery is all about location)…keystone customers can only expect nothing but the best in innovative service delivery centered ops. As you prepare to clock 2yrs in August 2013 I can only wish you more elbow grease..as in continued success in all of your endeavors. Kudos


Posted by: Duncan V. Idokogi
 
May 8, 2013
6:46 pm

Thank you for these insights. Banks that effectively leverage technology to improve service to customers, to really understand and know them, and to significantly reduce costs, will be the winners in the market.


Posted by: Chris Yaldezian
 
Post a Comment