Chase Bank Kenya switches card portfolio to OpenWay's Way4 platform
Chase Bank Kenya has switched its full card portfolio to a new payment software platform, known as Way4, from Electra Card System.
Developed by OpenWay, a provider of software solutions for bank card issuing and acquiring, payment processing and omni-channel services, the new platform will support the issuance of prepaid and credit cards – under the MasterCard and Visa brands.
Following the migration, Way4 will allow the bank to grow its cards business giving full control over its new product development process, decrease time-to-market and integrate omni-channel capabilities to enhance fraud management.
The lender has also introduced a various card products that combine payment functionality and mobile wallet features, including supermarket loyalty cards, University ID cards with wallet features, and traveller cards.
Chase group director of information technology and operations Raj Singh said: “Chase Bank Kenya chose the WAY4 platform because of its security, flexibility, cost-effectiveness, scalability, and high availability. OpenWay also has a long term experience in migrating data from the Electra Card System platform and is well known for its commitment to clients.
“The partnership with OpenWay is in line with Chase Bank’s strategy of developing innovative opportunities of digital banking and omni-payments, which provide the best possible quality of service and financial solutions for clients across the African region.”
OpenWay group head of pre-sales EMEA Serge Robyns said: “Delivering within the strict project timeframes was really important for Chase Bank Kenya and OpenWay was able to meet these timeframes due to the excellent cooperation between the Chase Bank and OpenWay teams. We believe the platform will help Chase Bank achieve its ambitious goals within a short term.”