SomBank Is Live on Temenos Transact R20

London, United Kingdom – 18 June 2021 – JETHRO Limited, the certified technical partner for Temenos across Sub-Sahara African countries, today announced that SomBank is Live on Temenos Transact R20. The implementation supports the financial institution’s strong growth ambitions.

Headquartered in Mogadishu, SomBank is a fully-fledged Shari’ah compliant bank offering banking services in Somalia. It was using a legacy system but needed to expand into Retail Banking and required a new core banking system that is agile and competitive to support the new functionality. After an evaluation and selection process, Temenos Transact was chosen to replace the legacy system. JETHRO was awarded the contract after a highly competitive tender process.

Despite COVID-19 pandemic across the world, the whole project was delivered remotely and SomBank went live on Temenos Transact version R20 on Saturday 29th May 2021, which further shows the commitment and professionalism of team JETHRO. In spite of the prolonged timeframe, all parties continued to work together with determination to achieve the goal. Some of the milestones that were realized include:

• Implementation and configuration of Temenos Transact for Retail and Corporate Banking.
• Migration and reconciliation of all legacy system data to Temenos Transact.
• Implementation of Temenos Internet and Mobile Banking channels and Identity Access Management system for enhanced security management.
• Training and knowledge transfer to the SomBank team, who had no prior knowledge of Temenos Transact.

SomBank now has the best Retail Banking system in the world – Temenos Transact. As their business expands, SomBank will phase in the Temenos Transact modules that were not included in the Phase 1 implementation.

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