Financial Technology

Financial Technology

February 22, 2013

Fiorano ESB Drives Roll Out of CBA's Innovative Mobile-banking and Loan Service Solution

Fiorano Software recently announced that Commercial Bank of Africa (CBA) has successfully managed the roll out of M-Shwari, an advanced mobile banking and loan service product which is being powered by Fiorano’s ESB, Enterprise Service Bus.  

In a statement, Dennis Volemi, CBA’s Head of Technology, New Business Ventures, said that, “Fiorano’s SOA platform built on the Fiorano ESB, Enterprise Service Bus and backed by Fiorano’s solid JMS messaging product, FioranoMQ has been critical in enabling the speed and efficiency with which we have been able to roll out this innovative product and handle the unexpectedly large volume of transactions and data. M-Shwari has exceeded all the performance KPIs that we set out to achieve in the first 90 days.”

CBA is offering M-Shwari to 17 million users of M-PESA, Kenyan mobile operator Safaricom’s mobile payment system. The end result being that a customer is saved a trip to the bank as he/she can easily access full banking services over his/her phone.

Fiorano ESB, Enterprise Service Bus which has been incorporated into CBA’s Core banking Integration Framework, works by converting the one-to-one approach to integration into multiple integration hubs making third-party application integrations seamless and easy.

CBA’s CEO Jeremy Ngunze said that, “We are overwhelmed at the show of confidence from our customers. This product will clearly change the game in the local financial sector.”

Both Safaricom and CBA jointly confirmed that M-Shwari has already generated 40,000 sign-ups by users on a daily basis and has proved to be one of the most popular and successful financial services products to be introduced within the African market.  

Fiorano has focused on a code-free integration approach through point and click tools which has helped in cutting down implementation time which in turn allows banks to introduce new offerings much faster. M-Shwari’s mobile banking transactions are directed to a Web service hosted on CBA server. By leveraging Fiorano SOA platform, CBA has created Web service flows to bring forward these Core Banking transactions.

Edited by Brooke Neuman

blog comments powered by Disqus