Client: FirstBank of Nigeria Limited
Industry: Banking and Financial Services
Scope: Over 17 million customers across West Africa, the UK, and beyond
Project Goal: Transition from on-premises ERP to cloud-based Oracle Fusion Cloud ERP and HCM solutions for enhanced efficiency, cost savings, and innovation.
FirstBank is a Nigerian multinational Bank and Financial Services company, headquartered in Nigeria, with subsidiaries and operations across West Africa, the UK and elsewhere. Established in 1894, FirstBank offers a comprehensive range of retail and corporate financial services through more than 170,000 business outlets to over 17 million customer accounts.
Project Objectives
- ERP Transformation Goals:
- 24/7/365 availability of Oracle Fusion Cloud ERP.
Scalability for future business growth. - Automation of back-office processes and seamless financial consolidation.
- Integration with FirstBank’s digital banking solutions like ‘Finacle.’
- Reduction of Total Cost of Ownership (TCO) by up to 50%.
- 24/7/365 availability of Oracle Fusion Cloud ERP.
- HCM Transformation Goals:
- Optimize Oracle Fusion HCM Cloud for Human Capital Development (HCD).
- Enable self-service for employee engagement and productivity.
- Enhance reporting and analytics for better planning and decision-making.
Phased Implementation
- Phase 1: Oracle Fusion ERP Cloud
- Modules:
- General Ledger
- Accounts Payable/Receivable
- Asset and Cash Management Expense Management, among others.
- Outcomes:
- Standardized and automated financial processes.
- Improved regulatory compliance.
- Significant cost savings in IT infrastructure and support.
- Modules:
- Phase 2: Oracle Fusion HCM Cloud
- Modules:
- Core HR Cloud Services
- HR Help Desk
- Recruiting and Learning Cloud Services.
- Outcomes:
- Automated HCMD processes for better accountability.
- Real-time Talent Management and Succession Planning.
- Integration of performance and learning management.
- Modules:
The Results
- Enhanced employee career development processes.
- Seamless reporting and compliance integration.
- Reduced hardware and infrastructure expenses.
- Lower support costs with simplified maintenance and upgrades.
- Awards: Best Bank in Nigeria 2022 and Best Bank in Digital Transformation Nigeria 2022 (International Investor Awards).
Conclusion
The partnership between Bluechip Technologies and FirstBank successfully delivered a robust digital transformation solution. By adopting Oracle Fusion Cloud ERP and HCM, FirstBank is positioned to lead digital banking innovation across Africa.
