The system integrator will be Tech Mahindra. Ithala SOC is focused on the unbanked sector in the KwaZulu-Natal (KZN) province and is seeking a full banking licence.
The new system will span Ithala’s existing retail and business banking services and will also support expansion into new sectors. The system is meant to enhance the bank’s digital banking as well as its offerings for niche developmental customer segments. The new system will support the rapid launch of customised products such as student, SME and agriculture loans, debit cards, rural savings/loans and specialised offerings.
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