In August 2017, Software Group and International Bank of Liberia (IBL) launched a new project to make the service to their customers fast, effective and efficient by implementing the latest state of the art technology.
The project with IBL is separated in two phases. The first phase includes implementation of ATM, Anti-Money Laundering (AML), Card Management and POS Management solutions. IBL took a strategic decision to have their own Switch Platform which to enable them to transform their digital banking services in Liberia. The bank seeks to deploy a card management system for about 5,000 cards and a switch platform that will allow a minimum of 200,000 transactions per annum.
In the second phase, IBL will implement agency banking and mobile banking. By launching their Agency Banking solution planned for the middle of the next year, IBL will be the first bank of Liberia to reach the unbanked population across all the provinces in the country.
IBL is planning to use the existing mobile Money Agents, Petrol Stations and Post Offices to drive the agency banking services across the country. Regarding the Mobile Banking, the company will use the USSD platform to compliment the android application for the agency banking platform. This will enable also customers from each part of the country to use the platform to apply for E-loans at the comfort of their homes without the need to walk into the branch.
About International Bank of Liberia
The International Bank (Liberia) Limited (IBL) is one of the strongest and oldest banks in Liberia with solid international standards. The company originated from the International Trust Company (ITC) of Liberia, founded in 1948. In 1960, ITC opened a commercial banking department with a commitment to handling customer’s accounts, money transfer, loans and letters of credits. The management team of the company consists of foreign and local professionals with many years of experience in banking.