Evaluation of operational efficiency of the Temenos T24 Core Banking Software on rural banks in Ghana: a case study of South Akim rural Bank Ltd, Eastern Region.

The Rural Bank Computerization Project was initiated by ARB Apex Bank to provide Information Communication Technologies (ICT) to Rural Banks in Ghana, to improve their service delivery and support local enterprise, the bulk of which is in Agricultural sector. It is the major Millennium Challenge Account (MCA) Ghana Project which covers all the ten administrative regions of the country. This research was aim at evaluating operational efficiency of the Temenos T24 Core Banking Software on the application of ICT solutions in rural banks in Ghana by using a case study of South Akim rural Bank Ltd. A core banking system is a banking solution with the art-of-technology driven approach. This is high tech IT supportive to the banking activities that covers all the functionalities of the bank and provides the concept of ‘anywhere banking’ to the customers. Customers are treated as ‘bank customer’ against ‘branch customer’. TEMENOS T24 is a fully integrated, modular core banking solution that covers a broad spectrum of functional requirements for the retail, private, corporate, universal, Islamic banking and microfinance sectors. It is built on an open architecture and uses established standards such as HTTP and XML. It is concluded that the implementation of the software benefited the operations of South Akim Rural Bank Ltd. These known benefits are increased quality and timely decision making, quality and accuracy of work, increased customer satisfaction, reduced cost of operations and improved effectiveness and efficiency. It is recommended that a scientific research should be conducted to find out whether the bank’s performance was as a result of the implementation of the Temenos T24 Core Banking Application Software in the operations of South Akim Rural Bank.