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Forefront Of Leadership: HFC

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HFC Bank’s ranking will be en­hanced when it launches its fully integrated core systems.

Chief executive officer, Rakesh Ram, said with a total investment of $40 million, the core banking system project marked an in­credible leap for the bank.

“The transformation will put HFC Bank at the forefront of becoming a leading play­er in the banking arena,” he said.

The launch is scheduled for early 2024.“The project is a core strategy for the bank,” Mr Ram said.

 Prelude

As a prelude to the new Core Banking Sys­tem, the bank introduced a new nine-digit account number system, and requested customers to adapt to the new number sys­tem by June 30, 2023, to avoid any impact on banking transactions.

The change of a CBS in any bank is once in a lifetime event for any chief executive officer in a bank, which happens once in 15-20 years.

“This is clear confidence in the future of the bank and Fiji’s economy, which will of­fer return to shareholders who are all Fiji­ans,” Mr Ram said.

In March 2022, HFC Bank announced its engagement with TCS BaNCS (a division of Tata Group, India) for the Bank’s new Core Banking System (CBS) and digital en­hancements

 Story By:  Frederica Elbourne

 Feedback: frederica.elbourne@fijisun.com.fj


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