Nedbank Malawi has unveiled a new core banking system, Flexicube, to be rolled out on June 12.
The development follows the successful implementation of Flexicubeat Nedbank Namibia, Swaziland and Lesotho.
Nedbank Malawi Managing Director Paul Guta said the acquisition of the new banking system forms part of Nedbank’s overall strategic intent to optimise and invest across Africa.
“The new banking system will allow Nedbank Malawi to introduce innovative product and service offerings such as, mobile banking, payments and money transfer capabilities.
“It will also enable us to offer simpler and more transparent pricing, meaning that bank charges will appear in real time reflecting as an individual item per transaction. With this, our clients will also be offered bundled options,” Guta said.
He noted that the launch follows months of meticulous planning and extensive work behind the scenes to ensure a seamless transition.
Guta also hinted that the transition will be seamless as customers account numbers will not change. He said there will be no need for the bank’s customers to change their ATM cards and cheque books.
The implementation of the new system was the collaborative effort of Nedbank teams from South Africa and Malawi.
As part of the transition, Nedbank internet banking system will not be available from the afternoon of Friday June 9 to Monday morning on June 12.
“Our branches will be closed this coming Saturday as the bank makes final touches before the switch on Monday,” Guta said.