Zambia National Commercial Bank Plc, commonly referred to by the name “Zanaco”, is a commercial bank that serves retail customers, large corporations, agri-business and public sector clients in Zambia. With the aid of Rabobank, a Dutch multinational banking and financial services company, providing management services and technical assistance, Zanaco is now one of the most solidly capitalised banks in Zambia. Zambia National Commercial Bank Plc was founded in 1969 and is headquartered in Lusaka, Zambia.
Techurate Systems Pvt. Ltd. provides robust technology solutions for banks and financial institutions that deliver greater agility, measurable business value, and improve overall customer experience. They offer products in the areas of internet banking, mobile banking, digital payments, analytics, reconciliation, and financial literacy. Techurate Systems Private was incorporated on 16 June 2015, and is headquartered in Bengaluru, India.
Prior to the implementation, Zanaco had manual processes in place for reconciliation, and was dedicating a significant amount of time and resources for the same. Manual reconciliation processes are time-consuming, require manual entry, are prone to errors resulting in low accuracy, require human intervention to resolve
errors, require manual generation of reports or transaction status checks, and lack of any real time visibility that can help organisations monitor and resolve issues.