Oceanic Bank International (OBI) expanded its service offerings by adding on new subsidiary companies in areas like life and general insurance, capital markets, securities and custodian services. The bank has continuously upgraded its systems, processes and staff competency to improve service delivery and increase efficiency using world-class institutions, such as SAP. This will integrate seamlessly with the group’s existing core banking application and handle back-office activities in human resources, administration and services and accounts. The result will be the electronic execution of these processes, and easier handling to provide a rich pool of information for decision making.
The adoption of the Mckinsey-Lead Strategic Transformation Project signifies a robust business transformation programme for OBI to create what it expects to be the leading financial services group in west and central Africa. It allows the group to fully capitalise on its current performance and positioning, and ensures that Oceanic Bank captures the next wave of growth opportunities.
The bank achieved branch efficiency through expansion strategies, and alternative delivery channels through increased ATM deployment in strategic locations. It also developed value-added services, and innovative, technology-based products and solutions for high-value institutional customers.
Oceanic has engaged in economic empowerment and poverty alleviation, enfranchising the unbanked through simple retail products. This has had a positive impact on the development of small businesses in the country, and has been lauded by the National Co-ordinator of the National Poverty Eradication Programme as a contributor to economic growth.
