Nigeria: Guaranty Trust Bank Teams Up with Infosys Finacle for Multi-Country Digital Banking Transformation

Guaranty Trust Bank (GTBank), the banking subsidiary of Guaranty Trust Holding Company Plc in Nigeria, has announced its selection of the Finacle Digital Banking Suite, a product by Infosys Finacle, a subsidiary of Infosys, for its comprehensive digital transformation initiative spanning multiple countries.

GTBank’s decision was primarily influenced by Finacle’s strong track record and the suite’s comprehensive capabilities in retail, wealth, and corporate banking.

Key Highlights:

• GTBank will leverage Finacle’s suite of retail and corporate banking solutions to undergo a holistic transformation of its operations, not only in its home base of Nigeria but also in ten other markets across Africa and Europe.
• Finacle’s cloud-native and open API-driven platform will enhance GTBank’s agility and readiness to collaborate with ecosystem partners, thereby unlocking the potential of contemporary digital advancements.
• By implementing the Finacle solutions suite, GTBank will secure a resilient, composable, and scalable system. This will enable the bank to easily meet modernization and growth demands while simultaneously achieving significant cost reductions due to the bank-wide digitization and automation.

Segun Agbaje, Group Chief Executive Officer of Guaranty Trust Holding Company Plc, expressed enthusiasm about the partnership, highlighting their commitment to creating a more agile and scalable core banking system. Agbaje emphasized the importance of delivering seamless and connected experiences to customers, echoing the belief that the future of banking lies in digitalization.

Venkatramana Gosavi, Senior Vice President and Global Head of Sales at Infosys Finacle, commended the collaboration with Guaranty Trust Bank, affirming their dedication to assisting financial institutions in scaling their digital transformation journeys. Gosavi expressed confidence in the ability of the advanced solution suites to enhance the banking experience for millions of customers and businesses while reinforcing GTBank’s position as a leading bank in the region.

About Guaranty Trust Bank (GTBank):

Headquartered in Lagos, Nigeria, Guaranty Trust Bank Ltd has evolved to become the flagship subsidiary of Guaranty Trust Holding Company Plc (‘GTCO’ or the ‘Group’), a leading financial services company with banking and non-banking operations across eleven countries spanning West Africa, East Africa, and the United Kingdom.

Finacle, a unit of EdgeVerve Systems, a wholly-owned product subsidiary of Infosys, is a renowned leader in digital banking solutions. Collaborating with both emerging and established financial institutions, Finacle provides a comprehensive suite of cloud-native solutions and SaaS services to facilitate better engagement, innovation, and operations, enabling successful digital transformation. These solutions cover core banking, lending, digital engagement, payments, cash management, wealth management, treasury, analytics, AI, and blockchain services for financial institutions worldwide. Over 100 countries rely on Finacle to provide superior banking services to billions of individuals and millions of businesses. For more information, visit www.finacle.com.