By Gabriel Ewepu – Abuja
A commercial bank, Taj Bank Limited, weekend, commended global leader in financial technologies, Sopra Banking Software, SBS, for enabling its banking activity.
The commendation was made by the Founder/COO of TAJBank, Hamid Joda, while speaking on the impact made by Sopra Banking Software on helping the bank to realise its ambitions.
Meanwhile, Sopra Banking Software, SBS, announced that TAJ Bank Limited has a start-up non-interest BankingInstitution with Head Office in Abuja, which is now live with Sopra BankingPlatform Core Amplitude Up, the CoreBanking System from Sopra Banking Software.
The API-first Cloud-agnostic solution has been implemented following Sopra Banking Software model bank approach, in line with the Nigerian regulations and the non-interest Banking requirements.
Taj Bank was recently given full banking license by the Central Bank of Nigeria, CBN, and went live in a record 6-month implementation project, led by Sopra Banking Software allowing for a smooth take-off of business by the bank.
TAJBank’s final Banking license was issued to the bank on 3rd July 2019, while the operations of the Bank began on 2nd December 2019 with two pilot branches, one in Abuja and the other one in Kano.
As a licensed non-interest bank with the intent of providing excellent service through technology and digital banking, the Bank focuses on building a powerful brand as a deposit money bank with solutions and competencies in non-interest banking, ethical conventional banking products, and services by leveraging on mainstream and social media.
The Banks vision is to be the leading African financial institution with a reputation for excellent customer experience and innovative solutions; and its mission is to build a sustainable ethical brand through exceptional service, innovation, and professionalism whilst enhancing stakeholders’ value.
The strategic intent of the Bank is to be recognizedas the dominant non-interest bank operating in Nigeria with 75 per cent market share and comprehensive non-interest banking products and service coverage; achieve top 10 Deposit Money Bank (DMB) in Nigeria, and pursue global branch expansion to achieve at least 40 branches across state capitals/major commercial centers in Nigeria by 2025.
Joda said: “We are pleased that Sopra BankingSoftware has helped us to start our banking activity. Sopra Banking Software has demonstrated its commitment to make our ambitions a reality. Taj Bank aims to be number one in the non-interest banking market in Africa.”
Also the MEA Managing Director, Sopra BankingSoftware. Raouf Mhenni, explained that “SopraBanking Software is delighted to support Taj Bank in its opening and we are proud to have earned their trust during this tight deadline project.
“This project has enabled us to demonstrate that our software and Services banking capabilities are truly the solution of choice for banks in Nigeria looking at operating in a fast-changing banking environment, aimed, amongst other things, at facilitating financial inclusion.”
In another remark, COO of Pn Consulting Limited, DennisOmoroseghe, said that “Sopra Banking Softwares local partner in Nigeria, ITSystem modernization and legacy system replacement remain a high priority for most Nigerian banks as they look to bridge the widening gap between front-office and back-office operations and services.
“Taj Bank in its deliberate effort to avoid this challenge in the near future has selected and successfully implemented SopraBanking Amplitude as its mission-critical application.”
Sopra Banking Software is a subsidiary of the Sopra Steria Group, a European leader in consulting, digital services, and software development. With more than 46,000 employees, the Sopra Steria Group generated a turnover of €4.3 billion in 2020.
Sopra Banking Software is the partner of choice for more than 1,500 financial institutions worldwide, with offices in over 80countries, which benefit every day from its technologies and software, with expertise from 5,000 employees.
The rich variety of its solutions, the strength of its conviction, and passion for innovation enable it to support clients on a daily basis and in their future projects, as well as in their goals regarding financial inclusion.