The Infrastructure Development Bank of Zimbabwe Selects Rubikon Banking System

London - 3 June 2010

The Infrastructure Development Bank of Zimbabwe (IDBZ) has signed a contract with Neptune Software for the implementation of their Rubikon Banking System.

IDBZ was launched by the Government of Zimbabwe in August 2005 as a development finance institution (DFI) focusing on infrastructure development in Zimbabwe. The Bank’s mandate is to mobilise financial and technical resources of appropriate duration and cost for public and private institutions involved in infrastructure development and to facilitate investment in infrastructure.

Rubikon Banking System was selected after an extensive evaluation by the Bank and will fully automate all the banking operations of IDBZ. In addition, it will provide clients with direct online services through the use of the Rubikon Internet Banking System. A rapid implementation is planned thanks to the system’s modern web-based architecture, rules-based integrated business process management capabilities, model-based products and services factory, combined with continuous 24x7 operations thanks to the virtualisation of the end-of-day processes.

Speaking at the signing ceremony at the IDBZ offices in Harare, Mr Charles Chikaura, the Chief Executive Officer stated ‘we are very pleased to be working with Neptune on this project. IDBZ is now well positioned to provide the services needed to address the infrastructure requirements of the country, and we require a modern IT system to enable us to do this effectively. We are confident that Neptune will provide us with the systems necessary to achieve our objectives.’

The acting Head of IT, Bianca Pasipanodya, commented ‘we are excited at the prospect of implementing a world class solution at IDBZ. Neptune have a good track record of supporting their clients in Harare and we look forward to a rewarding and effective partnership in the future.’

Neptune’s Executive Director, Stephen Roberts remarked ‘we are delighted to have IDBZ as a client, particularly as they will play such an important role in the future development of Zimbabwe and we would like to be part of this challenge. Rubikon has continued to gain market acceptance faster than any other core banking system in recent time. We are particularly focused on the Zimbabwe market and its neighboring countries and with this commitment from IDBZ we intend to grow our client support operation in Harare.’

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