MC Systems, a local technology solutions provider, today launched the i2025 version of its flagship product for financial institutions, the Phoenix International Core Banking System. Recognising that banking is a critical utility akin to water and electricity, MC Systems has upgraded its technology stack to ensure continued robustness and support for future innovations.
“Banking is a utility, much like water or electricity,” stated Dmitri Dawkins, Commercial Director at MC Systems Ltd, and it must be available and accessible at all times. This upgrade reinforces the foundation of the Phoenix system, ensuring that financial institutions can continue to deliver unified and uninterrupted services to their customers.”
The i2025 version of the Phoenix system lays the groundwork for future enhancements, including the redevelopment of APIs, enabling cloud-native deployments, and ultimately supporting the evolving needs of open banking. These advancements will empower financial institutions to operate more efficiently, reduce overhead costs, and focus on their core business of serving their customers.
“We believe that technology should empower financial inclusion and drive fintech adoption in emerging markets. By modernizing the technology stack, we are enabling financial institutions of all sizes to increase their operational efficiency and reduce costs significantly,” said Dwayne Russell, Managing Director at the MCS Group. “This allows them to invest more in customer-centric initiatives and ultimately offer more competitive and affordable financial services.”
Launching the i2025 version of the Phoenix International Core Banking System marks a significant milestone for MC Systems and the financial institutions it serves. It underscores the company’s commitment to providing technological solutions that empower financial institutions to flourish in the ever-evolving digital landscape.