By a Staff Reporter

Construction and Business Bank S.C. (CBB) Monday signed a Core Banking Software Solution Provision and Implementation Contract with Temenos Group, a Geneva-based IT Company.

The bank concluded selection of Core Banking Software Solution after a series of evaluations on bidders that responded to its international bid invitation which was floated from September 18 to Nov. 20, over a year ago now. Formal proposal evaluation according to the criteria and requirements on the request for proposals (RFP) had been done.

Twenty-seven vendors had bought the tender documents at first and ten responded to the bank’s RFP. But on the opening of proposals, one of the vendors was rejected for failing to incorporate a financial proposal since the tender was a two-envelope system. Four bidders were selected for the initial short list based on document level technical evaluation result and conducted a live demonstration of their software products at the bank. One bidder was excluded from the short list after the demonstration. The financial evaluation and site visits carried out on the remaining three bidders proved Temenos a winner.

The Core Banking Software Implementation Project is expected to be completed next September interconnecting all branches, head office and disaster recovery site of the bank. This enables the bank to employ state-of-the-art technologies with facilities for new service delivery channels like Internet Banking and Card Payment Systems and thereby meet the interest of all stakeholders.

Temenos is the world’s leading supplier of packaged banking software by working with over 700 clients in 120 countries across the world. According to IBS Intelligence, which maintains an annual sales league table, Temenos T24 has been first or second best selling core banking software for the last 12 years and in 2009 was the best selling solution for the third year in a row. The vendor is also working with the other two state-owned banks, the Commercial Bank of Ethiopia and the Development of Bank of Ethiopia, and the private Bank of Abyssinia in Ethiopia.

EthiopianReporter