Standard Lesotho Bank Core Banking system upgrade

2017-02-24 00:00:00.0

In the Bank’s continuous pursuit to offer superior service to its clients, Standard Lesotho Bank will be upgrading its Core Banking system which will be launched on 20th March 2017. This upgrade is expected to have no adverse impact on the operations of the bank as it mainly involves improvements on the back end processing applications. 

For the customers, the upgrade will result in new account numbers that will however be used concurrently with the existing account numbers for up to eighteen (18) months to give customers enough time to acquire and also get used to using the new account number. There will be no change on the current debit cards, cheque books and Personal Identification Number (PIN) that the customers are already using. The upgrade will also come with new look and feel interface for Internet Banking. 
For businesses and corporate entities that use Business Online facilities, the upgrade requires that they use new account numbers immediately after go live, and to this end, Relationship Managers in Corporate and Investment banking (CIB) and Business Banking have already started engagements with customers to ensure that they get new account numbers. 

 “The upgrade is an advanced technology banking system and its implementation will allow Standard Lesotho Bank to provide its clients with a superior customer experience through continuous digital innovation.” Says Mr. Mpho Vumbukani, the Chief Executive of Standard Lesotho Bank. Mr. Vumbukani also encouraged customers to look forward to the new upgrade with enthusiasm and advised them to look out for further communication through most media channels in Lesotho. 

Meanwhile, in an effort to bring convenience and to facilitate the smooth issuance and change in customer account numbers, the bank has resolved to issue new bank account numbers for all its customers to their employer and all existing third parties that they are currently contracted to in order to avoid service disruptions. 

Standard Lesotho Bank will be the tenth country in the Standard Bank Group to upgrade its core banking system. The new system allows for straight through processing across a number of banking operations and will among others, improve efficiency and turnaround times. Most importantly, the new system will also provide a fully integrated 24/7 banking across most of its electronic banking channels such as internet banking and mobile banking.

For more information on the upgrade please click here to view our demo

Be sure to go through the troubleshooting checklist in order to experience the upgrade in the best possible way.