Indo-Zambia Bank implemented Techurate’s digital banking solution offering retail and corporate banking functionalities.
Founded in 1984, Indo-Zambia Bank (IZB), is a Commercial bank headquartered in Lusaka, Zambia. The bank has maintained an impeccable and consistent record of performance under all major financial parameters in the last 36 years. Moreover, the bank has a unique shareholding pattern with the participation of two governments: the government of the Republic of Zambia through industrial development corporation and the Government of India. The bank has a presence across retail banking, corporate banking, international banking, and digital banking. IZB has a presence across 21 cities along with national branch network coverage of 34 outlets and 60 ATMS.
According to Jyothinath Sinha, Chief IT Manager at IZB, the bank was facing issues with the earlier version especially with mobile and internet banking services concerning updating, core system, and integration issues. Moreover, some of the functionalities required were not available due to the COVID-19 pandemic. Hence, the bank decided to move with a new digital banking solution. This was not an upgrade but a new implementation process. The bank initially evaluated six vendors and finalized Techurate as its digital banking solution complemented the bank’s requirement. The bank replaced the existing digital banking solution and implemented Techurate’s digital banking solution consisting of retail and corporate banking functionalities.