UNITED BANK FOR AFRICA TRANSFORMS IT S TECHNOLOGY PLATFORM

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1 UNITED BANK FOR AFRICA TRANSFORMS IT S TECHNOLOGY PLATFORM

2 Profile United Bank for Africa Plc is a leading financial services group in sub-saharan Africa, with presence in 20 African countries, as well as the United Kingdom, the United States of America and France. From a single country operation founded in 1949 in Nigeria, Africa s largest economy, UBA has emerged as a pan-african provider of banking and other financial services, to over 15 million customers globally, through one of the most diverse service channels in sub-sahara Africa; over 1000 branches and customer touch points, 2400 ATMs, 13,500 PoS, and a robust online and mobile banking platform. UBA was the first Nigerian bank to make an Initial Public Offering (IPO), following its listing on the NSE in1970. It was also the first Nigerian bank to issue Global Depository Receipts (GDRs). The shares of UBA are publicly traded on the Nigerian Stock Exchange (NSE) and the bank has a well-diversified shareholder base, including foreign and local institutional investors as well as individual shareholders. Overview In April 2014, UBA embarked on a major systems upgrade to the latest version of Finacle to simplify its processes and significantly improve customer experience across all channels. The ambitious project envisaged a big bang implementation in phases across UBA s operations in 19 countries. The project involved a lot of complexities, such as: migrating a data of 14TB for Nigeria alone, migrating customizations, multilingual deployments (English, French and Portuguese), and training more than 11,000 users spread over the African continent. The first country went live on Finacle within a year of project commencement. The remaining 18 rollouts in as many countries were completed in the next 14 months. The extremely quick implementation was a result of meticulous planning, enabling simultaneous roll outs across 4 countries. Key Business Drivers UBA realized it needed a state-of-theart banking platform to support its transformation plans, which would enable it to consolidate its strategic positioning and capitalize on the extensive opportunities in the African market. The chosen platform would not only have to provide the desired functionality but do so in several languages. The multilingual, multi-entity features of Finacle made it an ideal choice. Implementation Highlights The project scope covered implementation of core banking, online banking and treasury systems for the bank s 19 country operations. UBA was keen on a short timeline, especially for the core banking and online banking implementations. The 19 implementations 10 French, 1 Portuguese and 8 English were grouped into 5 multi-entity deployments. The bank was recommended to leverage a data replication tool to replicate data to ensure that they didn t have to go through an intermediate migration cycle. The latter allowed UBA to undertake a big bang migration to the latest version of Finacle. Standardization of migration, porting and testing activities enabled optimum $12.4 billion in assets Operates in 23 countries One of the largest banks in sub- Saharan Africa Serves over 15 million customers globally Objective Consolidate its strategic advantage across 19 countries Build a strong technology foundation to capitalize on the impending opportunity in Africa Deliver delightful digital experiences to the new generation of customers Achieve extensive automation to be agile in the digital world Comply with continuously evolving regulatory and compliance requirements 2 I External Document 2018 EdgeVerve Systems Limited

3 utilization of human and other resources. Everything was meticulously planned, and particular attention was paid to predicting major risks, their mitigation, and backup plans. A secure, shared portal was used for tracking all requirements and issues online helped to keep the rollout on track, despite problems such as fuel shortages. The bank s internal team comprised a crossfunctional permanent core of 48 staff and another 65 members from key departments such as, Operations, Information Technology, Audit, Internal Control, Finance, Trade, Risk Management, E-banking, and Treasury, who pitched in when required. There were also representatives from other African countries (besides Nigeria) on the core team. The Finacle team comprised of 20 members along with the 10 members from the alliance partner Computer Warehouse Group. The fact that all three teams UBA, Finacle and CWG worked as one was instrumental in the project being delivered in a record time of 26 months. The Finacle Core Banking and Online Banking implementations at UBA were a huge success. Finacle Treasury was implemented in Nigeria and other subsidiaries even before Finacle Core Banking. Business Benefits The speedy rollout in about 26 months saved UBA considerable time and money. Continuous delivery and testing of customization, porting line items by the bank ensured smooth SIT/UAT/Rollout phases. The implementation allowed UBA to discontinue many old systems and thereby save USD 350,000 per annum. The project automated processes and integrated information to significantly lower the transaction processing time by over 30%. The time to open a new account is now just two minutes. With a single view of customer information, the bank has improved the turnaround time and customer sales and sales capability. The system also enables document capture to digital images reducing paper dependence. There were also several qualitative benefits, such as the closing of regulatory and compliance gaps, avoidance of regulatory sanctions, as well as addressing Approach To set up a strong foundation with core banking and online banking platform The platform based on functionality, flexibility and multi-lingual support Clustered roll outs to achieve multi country, multi lingual implementations in shortest span of time Extensive transformation across 19 countries within 26 months Leverage comprehensive unified view on customer for deeper engagement Integrated multiple disparate systems for increased automation 3 I External Document 2018 EdgeVerve Systems Limited

4 technological obsolescence. Quantitative Benefits Increase in customer base: UBA experienced a quantum leap in its customer base with an increase of over 28%. There was an increase in the number of new products that were introduced into the market Faster time to market for new products: Launching a new product and rolling it to the market takes just one week whereas it used to take a month earlier. In addition, social media integration has contributed to faster roll out of products with fewer resources employed. Increased revenues: UBA has seen an increase in revenue with the bank introducing contemporary value adding products and service offerings Faster customer service: With the advantage of 360-degree view of the customer, the customer service time has dropped drastically by 67%. Greater operational efficiency: The bank has witnessed immense operational benefits due to process optimization. For instance, the time to open a new account has decreased by over 67%, while the cost of transaction across channels has reduced by 80%, post core transformation. Greater agility: United Bank for Africa is now able to launch new branch in a single day vis-à-vis four days it used to take earlier. Achieving greater scalability: The transaction peak load capacity has now increased by over 25%. The average number of transactions processed in a day has also more than doubled since go live. Optimization of cost across channels The unification of various touch points with a digital engagement platform has helped UBA better understand customer behavior across segments, as well as their product and channel preferences. The upgraded Finacle solution helped them optimize channel usage and migrate low cost transactions to low cost channels. Outcome UBA witnessed a 28% leap in its customer base Time to market for new products reduced by 77% Increase in revenue by introducing contemporary value added products and services With 360-degree view of the customer, the service time has reduced by 67% Time to open a new account has decreased by 67% Cost of transaction across channels has reduced by 80% Time to launch new branch decreased by 75% Transaction peak load capacity increased by 25% Average number of transactions processed in a day has more than doubled Kennedy Uzoka Group Managing Director, UBA Group Transaction processing time has reduced by 30% At UBA, we have always looked to drive greater financial inclusion across Africa. It has become vital for banks to have a strong technology architecture in place to provide a customer experience at par with digital disruptors across channels while accelerating innovations across new business models. With Infosys Finacle, we now have a strong digital suite that enables the bank to drive growth while providing a exceptional banking experience to our growing retail, SME, institutional, and corporate customers. 4 I External Document 2018 EdgeVerve Systems Limited

5 About Infosys Finacle Finacle is the industry-leading digital banking solution suite from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. Finacle helps traditional and emerging financial institutions drive truly digital transformation to achieve frictionless customer experiences, larger ecosystem play, insights driven interactions and ubiquitous automation. Today, banks in over 100 countries rely on Finacle to service more than a billion consumers and 1.3 billion accounts. Finacle solutions address the core banking, omnichannel banking, payments, treasury, origination, liquidity management, Islamic banking, wealth management, analytics, artificial intelligence, and blockchain requirements of financial institutions to drive business excellence. An assessment of the top 1250 banks in the world reveals that institutions powered by the Finacle Core Banking solution, on average, enjoy 7.2% points lower costs-to-income ratio than others. For more information, contact finacle@edgeverve.com EdgeVerve Systems Limited, a wholly owned subsidiary of Infosys, Bangalore, India. All Rights Reserved. This documentation is the sole property of EdgeVerve Systems Limited ( EdgeVerve ). EdgeVerve believes the information in this document or page is accurate as of its publication date; such information is subject to change without notice. EdgeVerve acknowledges the proprietary rights of other companies to the trademarks, product names and such other intellectual property rights mentioned in this document. This document is not for general distribution and is meant for use solely by the person or entity that it has been specifically issued to and can be used for the sole purpose it is intended to be used for as communicated by EdgeVerve in writing. Except as expressly permitted by EdgeVerve in writing, neither this documentation nor any part of it may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, printing, photocopying, recording or otherwise, without the prior written permission of EdgeVerve and/ or any named intellectual property rights holders under this document.