STANBIC BANK KENYA PARTNERS WITH ORION INNOVATION FOR STRATEGIC MODERNISATION

Chennai, India | May 24, 2024: Orion Innovation ("Orion"), a leading digital transformation and product development services firm, today announced it has signed a deal with Stanbic Bank Kenya to facilitate a core banking upgrade and modernization effort. As part of the agreement, Orion will implement Temenos' cloud-based digital banking platform within Stanbic Bank Kenya's operations, enabling enhanced customer experiences and delivering innovative digital solutions.

The entire servicing and delivery for the partnership will happen from Orion’s Chennai centre in India. As the Financial Services delivery hub in India, Orion's Chennai centre features a state-of-the-art Innovation Lab that has developed bespoke solutions which seamlessly integrate with Temenos’ suite. Orion’s team of experts will manage massive amounts of data and ensure consistency and accuracy for Stanbic Bank Kenya from India.

Orion, a globally certified & trusted Temenos partner, was selected as Stanbic Bank Kenya's partner to upgrade its Transact application from R17 to R23 and migrate from TAFC to the new TAFJ standard. The ambitious project involves 90+ integrations and 6000+ local code conversions. To accelerate the project timeline, Stanbic Bank Kenya will use Orion's industry-leading Test Automation tools and services.

The strategic alliance with Stanbic Bank highlights Orion's leadership role in transforming the Financial Services industry across the MEA region. "We are excited to partner with Stanbic Bank Kenya on the bank modernization initiative," said Anoop Gala, Orion's Global Head of Financial Services. "Our team is committed to fueling digital innovation in the African Financial Services market by securing our banking partners in deploying advanced implementation tools which ensure compliance and advance their project timelines."    

Suchen Janjale, Orion's Head of Financial Services in Europe, said, "Our comprehensive offerings around Temenos, coupled with our proven track record in efficient and successful upgrades and integrations, were instrumental in Stanbic Bank Kenya's decision to choose Orion as its trusted partner."

Dr. Joshua Oigara, Stanbic Bank Kenya and South Sudan Chief Executive said, "Technology and innovation are central to our continued growth in a highly digitized and complex banking environment. This upgrade adds to our technological capabilities and enables us to better serve our clients both on a local and global scale. We are proud to partner with Orion and to leverage its strong background and expertise in driving system modernization."

Alex Siboe, Stanbic Bank Kenya Head of Technology, said, "Transforming customer experience through technology is at the cornerstone of the bank's strategy. Aligned with our objective of delivering exceptional client experiences and superior value, we consistently work towards adopting the right technologies to drive efficiency and satisfaction for our clients. This upgrade fits into our digital transformation journey and will help us provide a seamless and superior banking experience to our customers. Furthermore, through this upgrade, we will not only enhance our operational efficiency but also offer innovative services to our customers, meeting their evolving needs in today's digital era."

About Stanbic Holdings Plc

Stanbic Bank Kenya is a member of the Standard Bank Group, Kenya's seventh-largest commercial bank by assets. Founded on a solid legacy that spans over 100 years, Stanbic Bank Kenya continues to move forward with its purposeful strategy to drive Kenya's growth and to be the leading financial services organization in Kenya, delivering exceptional client experiences and superior value. Stanbic Bank is licensed and regulated by Central Bank of Kenya and provides the full spectrum of financial and banking services for Corporates, SMEs and Individuals. For more information, visit www.stanbicbank.co.ke.

About Orion Innovation

Orion Innovation ("Orion") is a leading digital transformation and product development services firm. Rooted in engineering and design thinking, along with a unique combination of agility, scale and maturity, its team of approximately 6,400 associates helps Fortune 1,000 companies improve efficiencies, enhance customer experiences, and develop new digital offerings. Through its delivery centers in North America, EMEA, India and Latin America, Orion serves clients across Financial Services, Hi-Tech, Telecom & Media, Sports & Entertainment, Professional Services, and Healthcare industries. For more information, visit www.orioninc.com.