Sagicor Bank Reduces Wait Time with New Technologies

August 12, 2021

Via Jamaica Observer

SagicorGroup Jamaica (SGJ) has signed off on an agreement with US-based company IBM for the adoption of technologies aimed at increasing productivity, enhance security, and ultimately, aim to improve on service to its clients. The technologies to be used are the IBM LinuxONE, and IBM FlashSystem 7200, Red Hat OpenShift and Temenos Transact.

This is the first instance of IBM LinuxONE in the Caribbean and it will be incorporated in SGJ's banking segment, Sagicor Bank, over the next few months, before integration into the group's other business lines.

Mark Clarke, vice-president, Infrastructure and Technical Services at Sagicor Group Jamaica, explained that, “the technology, IBM LinuxONE, IBM FlashSystem 7200, Red Hat OpenShift and Temenos Transact, when combined will improve Sagicor Group's ability to manage large and complex data and applications from businesses across the group.”

The US$2-million investment in the cutting-edge technologies is expected to slash Sagicor's operational costs significantly as well as pay for themselves within three to four years. Sagicor anticipates savings of approximately US$4M, or just under US$1M annually from improved efficiencies.

Sagicor Bank clients can expect to experience reduced wait times and smoother service delivery upon full implementation in 2022.

According to Clarke, “All the banking services that you can think of… that data go into what we call the bank's core IT system. These technologies will monitor, administer and control the IT system.”

Chorvelle Johnson Cunningham, Sagicor Bank CEO, added that, “Whether it's deposits, issuance of a loan, debit or credit card transactions, Sagicor Bank always strives to ensure that when our clients do business with us it is easy, simple and personal.”

This new system will ensure that the user experience is significantly improved for our clients as we continue to transform our digital platforms and provide exceptional and quality service.”

Ross Mauri, general manager, IBM Z and LinuxONE, IBM, affirmed that implementation of the technologies is designed to facilitate higher staff productivity as a result of the technologies user-friendliness. “For banks of any size, IBM LinuxONE provides a highly secure platform for mission critical workloads. By leveraging Red Hat OpenShift on LinuxONE, Sagicor is well-positioned to transform its banking operation as the needs of the business change.”

Sagicor's adoption of technologies from IBM is in keeping with commitments made by the group to take steps to strengthen its business segments and improve on digital technologies during 2021.

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