The Co-operative Bank of Kenya has selected Misys' BankFusion Universal Banking solution, as part of its strategic plans to increase product portfolio, enhance the quality of services, and expand bank's market share.

Misys said that the solution will cover retail banking, trade finance and treasury functions at the Co-operative Bank of Kenya.

According to the Misys, the Co-operative Bank of Kenya, which has been its client for the past 15 years, was looking for a solution to automate the majority of the bank’s consumer, corporate and treasury operations and drive efficiencies. The Misys technology will enable the bank to use new channels to reach more customers.

Co-operative Bank of Kenya group managing director & CEO Gideon Muriuki said that the bank will now be able to introduce new products rapidly and boost the capabilities in areas such as business intelligence and automation of trade finance and treasury operations.

"We will also be counting on Misys to provide the technological support needed to expand our presence across more market segments not just in Kenya, but across the region," Muriuki said.

Misys director Middle East & Africa Roy Froud said the new Misys solutions being implemented will be crucial in helping the bank in its plans to expand its product portfolio and widen its market share in the country and across other African markets.