TAJ Bank Limited has adopted Sopra Banking Software (SBS) for a start-up of a non-interest Banking Institution in Abuja, to improve services in a fast-changing banking environment in Nigeria and ensure financial inclusion of the people.
Taj Bank was given a full banking license by the Central Bank of Nigeria (CBN) in 2019 and went live in a record 6-month implementation project under the leadership of Sopra Banking Software, allowing for a smooth take-off of business by the bank.
Founder and chief operating officer of the Bank, Hamid Joda, in a statement made available to BusinessDay, expressed delight over the support of
Sopra Banking Software helped TAJ to start banking activities.
According to Joda, Sopra Banking Software has demonstrated its commitment to making TAJ’s ambition of becoming number one in the non-interest Banking market in Africa a reality.
He said the target of the new Bank is to pursue global branch expansion to achieve at least 40 branches across state capitals and major commercial centres in Nigeria by 2025.
“The strategic intent of the Bank is to be recognized as the dominant non-interest bank operating in Nigeria with 75% market share and comprehensive non-interest banking products and service coverage; achieve top 10 Deposit Money Bank (DMB) in Nigeria.
“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 TAJ COO stated.
Managing Director, Sopra Banking Software, Raouf Mhenni said the firm is delighted to support Taj Bank in its opening as the project has enabled it to demonstrate that Sopra Software and Services banking capabilities are truly the solution of choice for banks in Nigeria.
Dennis Omoroseghe, COO of Pn Consulting Limited, Sopra Banking Softwares local partner in Nigeria, stated that IT System 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 Sopra Banking Amplitude as its mission-critical application. Sopra Banking Software is the partner of choice for more than 1,500 financial institutions worldwide.
“The rich variety of our solutions, the strength of our conviction and our passion for innovation enable us to support our clients on a daily basis and in their future projects, as well as in their goals regarding financial inclusion” he added.