Financial technology company, Sopra Banking Software (SBS), has announced that TAJ Bank Limited, will be starting-up a non-interest Banking Institution with Head Office in Abuja, which will be powered by its Sopra Banking Platform.
The API-first Cloud-agnostic solution has been implemented following Sopra Banking Software model bank approach, in line with the Nigerian regulations and the non-interest Banking requirements.
Taj Bank, which was recently given full banking license by the Central Bank of Nigeria (CBN) went live within 6 months of implementating the project in collaboration with Sopra Banking Software.
According to Hamid Joda, founder of TAJ Bank, the bank aims to be number one in the non-interest banking market in Africa.
On the other hand, Dennis Omoroseghe, the Chief Operating Officer of Pn Consulting Limited, Sopra Banking Softwares local partner in Nigeria, is of the opinion that “IT System modernization and legacy system replacement remain a high priority for most Nigerian banks as they look to bridge the widening gap between front-office and back-office operations and services.
“Taj Bank in its deliberate effort to avoid this challenge in the near future has selected and successfully implemented Sopra Banking Amplitude as its mission critical application,” he said.