ICS (London) Ltd. acquires 16% of the Nigerian Banking Market

May, 2007

(London, UK) – International Computer Systems (London) Ltd. announces the successful completion of its full automation of the newly established Unity Bank, a merger of nine different Nigerian Banks. The merger of the bank was concluded in March 2006, thereafter the commencement of the automation project with ICS, which led to the gaining of 16% of the Nigerian Banking market in only a matter of 8 months.

ICSF’ BANKS solution is now launched in 215 branches of Unity Bank across Nigeria, with the ability to adopt and expand both regionally and globally using ICS’ Web-enabled Banking solution – a complete integrated banking system for its various banking environments running on oracle 10g platform.

The advanced technologies that ICS has now established at the heart of Unity Bank represent an important part in the consolidation and strengthening of the Nigerian Banking industry, and reflect the Central Bank of Nigeria’s (CBN) strategy to empower Nigeria as a pre-eminent financial hub in Africa, the CBN recently also automated their banking supervision and financial surveillance operations. Unity Bank is now at the forefront of the push to build technical capacity, leading the way in advanced services within Nigeria itself and even providing the ability to manage external reserves for other African countries.

The ICS solution utilizes the world’s leading technologies to deliver extraordinary value, through unifying financial charts of account, balance sheets, chain management and redefining internal banking processes, while using the Oracle 10g database on a LINUX operating system along with multi-Lingual features. Unity Bank chose the BANKS application after a detailed review of leading vendors and global competitors.

According to the bank’s Executive Director in charge of Operations and I.T services;
“As a bank after a rigorous review and selection exercise that covered all the banking applications within Nigeria as well as few applications overseas, we decided to choose BANKS because of its amazing set of functionalities, user-friendliness the synergy between its modules and the robust MIS it comes with. We were also comforted by ICS’ record of successful implementations and support services”….. Dr Evans Woherem (Phd. Artificial intelligence)

ICS’ BANKS integrated its systems within 8 months into its development with Unity Bank, including the training of over 1,400 employees ensuring record speed and Total Solution automation in the Banking and Financial industry. Dozens of other top tier banks have been successfully automated across the Middle East, Africa and Europe including other leading Nigerian banks in West Africa such as GT Bank, and Sterling Bank, as well as banks in Gambia and Sierra Leone.

About International Computer Systems (London) Ltd.- founded in 1978 as a Systems Integrator and Turn-Key solutions provider, enjoys an unbroken record of successful banking solutions implementation throughout a quarter of a century of successful banking automation projects with over 40 banks across 3 continents.

Share this Article