Almost 18 Months after the takeover from Odyssey Financial Technologies, Temenos announced to be considering “strategic combination with Misys plc to be effected by way of an all share merger”.

Nib International Bank (NIB) has become the latest bank in Ethiopia to sign for Temenos' T24 core banking system. According to the bank's announcement, Temenos won over Oracle FSS, Delta Informatique, Misys, Neptune Software and Infrasoft Technologies. The latter vendor, however, is believed to have recently bagged a core banking system modernisation contract with NIB's rival, Bunna International Bank.

The Swiss-based software developer and vendor, Temenos Group AG, appears to be marching undeterred towards dominating the market of the Ethiopian banking industry. It now has Nib International Bank (NIB), one of the last remaining banks not interfaced with the central bank’s National Payment System (NPS), as its latest client, the fourth bank to select Temenos for its installation of upgraded centralised, online, real-time, electronic (CORE) banking solutions.

K-Rep Bank, a Kenyan commercial bank focused on providing services to poor people, has spent an estimated KES 50 million (USD 582,000) to upgrade to a software system from Switzerland’s Temenos called “T24 for Microfinance and Community Banking” [1].  The upgraded system integrates all K-Rep branches, whereas each branch operated as a separate entity previously. In addition, the bank will be able to offer customers improved loan statements, transaction records and mobile banking services, such as integration of customer accounts with customer mobile phones [1].  Details on the upgrade of mobile services are unavailable.  According to the US-based NGO Microfinance Information Exchange, K-Rep Bank had a gross loan portfolio of USD 74.2 million, USD 95.0 million in assets, 0.68% ROA, 4.42% ROE, and 65,073 active borrowers in 2010.