Credit Union introduces new core banking software


A communiqué from the bank says this development comes at the right time now that the Central Bank of Seychelles is in the process of introducing new IT systems aim at modernising the banking sector in Seychelles.

The newly acquired ABACUS software will enable members of the SCU to negotiate overdraft facilities and operate other accounts.

The system will also pave the way for the introduction of a number of other products such as ATM, internet banking etc., in the near future as well as meeting the reporting requirements of the Central Bank of Seychelles.

It is to be noted that members of the SCU already enjoy products such as interest-bearing savings account using cheque books, acquisition of shares which earn dividends on an annual basis and fixed deposits apart from its main activity which is granting loans to its members at competitive rates of interest.

The management of the SCU has expressed its appreciation to all members who have shown patience and understanding during the pasts months when the new software was being tested.