CASE STUDY
between 9am and 3pm, which really isn’t
convenient for your average customer with
a nine to five job.
“Similarly, many people still live in small
villages, which are often miles away from
the nearest bank, so coming into a physical
branch is not always feasible.”
Yoma Bank recognized that if it could
offer customers a more convenient way to
access banking services, it had a chance to
capture a significant portion of the emerging
banking market, where many people are
opening bank accounts for the first time.
Bosher continues: “As this might be the very
first time that many customers interact
with a bank, we want to give them the
most positive experience possible. Taking
an outside-in approach to transforming our
services would help us to achieve this.
“We saw that technology could give us an
opportunity to reach out to our customer
base more quickly, more efficiently and in a
more customer-friendly way.”
The implementation
To enable complete restructuring of the bank
around the customer experience and support
the launch of digital banking services, Yoma
Bank selected Fusion Essence – the front-toback
core banking solution with integrated
digital channels.
Bosher comments: “Our Fusion Essence
implementation goes far beyond a core
banking upgrade – it has been a catalyst for
much broader changes across the bank.
and obtain much faster time-to-value from
our core banking implementation.”
Unifying and extending operations
Integrating banking operations on a single
platform will allow Yoma Bank to bring its
branch network closer together than ever
before. “In the past, we didn’t have a very
joined-up way of governing all our different
branches, which meant that they operated
largely as independent units,” said Bosher.
“Fusion Essence will allow Yoma Bank to
truly operate as one and manage our
branch network in a more connected and
efficient way.”
Importantly, the introduction of new digital
channels will provide a valuable complement
to the bank’s extensive branch network,
helping it reach out to a wider customer
base more rapidly and cost-effectively.
Bosher notes: “While branch expansion is
part of our strategy, it’s quite costly and
time-consuming. We see Fusion Essence as a
key enabler for growth. New digital banking
offerings will allow us to reach out to more
customers, increasing our market share to
make Yoma Bank a truly nationwide bank.”
Not only will next-generation online and
mobile banking services help to set Yoma
Bank apart from the competition, they will
bring a new dimension to customer service.
Bosher states: “Customers will be able
to engage with the bank anytime and
anywhere, and receive offerings that are
personalized for their needs, boosting
satisfaction and loyalty.”
to keep pace with the demands of growth
without sacrificing quality of service.
Bosher notes: “By taking advantage of
straight-through processing, we can handle
higher volumes of transactions much more
effectively, all while tightening operational
control and improving risk management.”
With the ability to process a much
larger volume of transactions in a faster,
more granular way, Yoma Bank can drive
more personalized, higher-quality
customer service.
Bosher comments: “We can rely on Fusion
Essence to do the heavy lifting when it
comes to processing transactions and
managing risk. This takes a significant
burden off our operations teams, helping
them adopt a more customer-facing role.”
Forward-looking partnership
At every point along its banking
transformation journey so far, Yoma Bank
has been able to count on strong support
from Finastra.
Bosher concludes: “The restructuring
program is one of the biggest projects we
have ever undertaken, and it has public
consequences, in terms of our brand equity
and reputation in the local market. All along
the way, Finastra has been committed to
ensuring that we obtain a positive return on
our investment.
“Our partnership with Finastra demonstrates
to our customers that the bank is investing
in technology and improving the way we
“The ‘outside-in’ approach that Finastra is
taking to transformation resonates well in
our region. We want to put the bank at the
center of our customers’ lives, and we believe
that the seamless, end-to-end coverage that
Fusion Essence delivers is absolutely vital to
achieving this.”
Yoma Bank will implement Fusion Essence
following the Finastra Application & Process
Solutions approach. This ensures that the
bank will go live in the quickest timeframe
possible, in a tried and tested, low-risk model.
Bosher adds: “Using this approach allows us
to take advantage of proven best practices
TRADITIONALLY, THE BANKING
SECTOR HAS BEEN VERY PROCESS-
DRIVEN, AND HAS NOT TAKEN THE
CUSTOMER INTO ACCOUNT.
Better customer service
Streamlined operations and greater
automation will enable Yoma Bank to
increase processing efficiency, helping it
do business. I think it gives our customers a
great deal of confidence to know that Yoma
Bank is not simply standing still but moving
forward to address their needs and building
a bank for their future.” •
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