Forefront Of Leadership: HFC
HFC Bank’s ranking will be enhanced when it launches its fully integrated core systems.
Chief executive officer, Rakesh Ram, said with a total investment of $40 million, the core banking system project marked an incredible leap for the bank.
“The transformation will put HFC Bank at the forefront of becoming a leading player in the banking arena,” he said.
The launch is scheduled for early 2024.“The project is a core strategy for the bank,” Mr Ram said.
Prelude
As a prelude to the new Core Banking System, the bank introduced a new nine-digit account number system, and requested customers to adapt to the new number system by June 30, 2023, to avoid any impact on banking transactions.
The change of a CBS in any bank is once in a lifetime event for any chief executive officer in a bank, which happens once in 15-20 years.
“This is clear confidence in the future of the bank and Fiji’s economy, which will offer return to shareholders who are all Fijians,” Mr Ram said.
In March 2022, HFC Bank announced its engagement with TCS BaNCS (a division of Tata Group, India) for the Bank’s new Core Banking System (CBS) and digital enhancements
Story By: Frederica Elbourne
Feedback: frederica.elbourne@fijisun.com.fj
