June 14, 2024

Stanbic Bank Kenya Partners with Orion Innovation for Digital Transformation

Stanbic Bank Kenya Partners with Orion Innovation for Digital Transformation

Stanbic Bank Kenya has announced a significant partnership with Orion Innovation, a leading global firm in digital transformation and product development services, to upgrade their core banking system. This is in an effort to provide an unparalleled banking experience for Stanbic Bank’s valued clients.

Upon completion, clients can expect a faster, simpler, and more robust platform equipped with the latest technologies. This translates to a seamless and efficient experience across Stanbic Bank’s digital banking system.

Orion is a leading firm in digital transformation and product development services headquartered in Edison, NJ. The firm brings a wealth of experience to the table and are well-positioned to empower Stanbic Bank with cutting-edge solutions. Orion has over 30 years of solving complex business problems and a global team of approximately 6,400 associates, with engineers located in 14 major delivery centers across North America, EMEA, APAC, and LATAM.

The firm works with a wide range of clients across various industries, including hi-tech, telecom and media, professional services, financial services, healthcare and life sciences, sports and entertainment, and education. Their expertise spans across various areas, including Data Analytics & Business Intelligence, Cloud Computing, and Digital Product Development – all crucial for building a future-proof digital banking infrastructure.

Over the past three years, Orion’s business has more than tripled. The firm has achieved this remarkable growth through both organic and inorganic means, acquiring new clients, enhancing complementary skills, expanding domain expertise, and strengthening its global presence. Earlier this month, Orion Innovation partnered with BNI Madagascar, the leading banking network in the country, to revolutionize digital banking experiences for customers.

This partnership echoes Stanbic Bank’s unwavering commitment to providing a transformed client experience. Technology is a key enabler in achieving this goal, and Stanbic Bank continues to make strategic investments to drive growth for both their clients and the Bank itself.

Stanbic Bank Kenya has had a good start to the year, posting a modest net profit increase of 2.7% to Sh3.9 billion for Q1 2024 compared to the same period last year. This was achieved despite a decline in operating income during the quarter. Stanbic’s net interest income also grew by a significant 18.5%, reaching Sh6.4 billion, driven by higher loan earnings.

This increase stemmed from a rise in interest rates, including the implementation of risk-based pricing, and a surge in interest from loans and advances, which jumped to Sh9.2 billion from Sh6 billion in the previous year.

For any inquiries, you can reach stanbic bank customer care via email at customercare@stanbic.com or call them through the stanbic bank contacts at 0711068888/020 3268888. You can also use the stanbic bank paybill number 600100 to make payments. Visit their website to learn more about stanbic bank mobile banking and stanbic bank internet banking.