Company Profile
South Atlantic Solutions > Company Profile
1. Our Journey

South Atlantic Solutions was formally incorporated in the year 2001 as a corporation designed to provide banking related software products and services. The company has been operating from Cape Town South Africa since its incorporation.

Strategically from inception it has focused on the African market as its main region of operation. For reach outside of South Africa, it continues to engage in partnerships with acceptable companies in chosen regions outside of South Africa.

The executive team of the company largely come from careers that have been groomed predominantly from “IT” and “Banking. At inception, the path of the company leveraged this  and became successfully tailored to provide complementary solutions and services to global/international banking software solutions across Africa.

In this the company increasingly and consistently generated laudable  goodwill and history amongst T24 running banks in the Southern African region.

Within two years, the company had established a name in countries within the Southern African region. It had succeeded in providing T24 related services in countries like Botswana, Malawi and Zimbabwe.

Over the few years to follow, this reach  spread to other countries like Namibia, Mozambique, Swaziland and Nigeria.

Prior to its growth in self owned solutions, the company successfully engaged  in all aspects of the useful life T24 system in the regional banks it dealt with. This included :

  • Full Implementations
  • Part Implementations
  • Upgrades
  • Upgrade with re-implementations
  • Training programs
  • Operational support (Service Level Agreements)
  • Operational outsourcing

As history and success stories increasingly stood on the side of the company, the company successfully lunched the first wave of its own products designed for its existing clientele sphere. This included the following :

  • Complete Loan Origination Module for the T24 banking system
  • Complete Loan Management System for the T24 banking system
  • Complete Collections and Arrears Management Module for T24
  • Complete Deposits and Investments Module for the T24 banking system

All of these products successfully replaced similar modules already existing within the T24 suit of products. With such successes the company reviewed its strategy with a medium as well as long term goals strategy.

In the medium term, the company invested in and successfully released two electronic banking solutions and an MIS/BI solution as well. The electronic banking solution covered internet banking and mobile banking. These have been successful with some live deployments as well.

The long term goal of the company was to liberate its product offerings into a complete retail banking solution that is fully owned by the company. This has given rise to the release of “MoneyLine” which is a very impressive retail banking solution with experience and history well invested into it. This included the re-wiring of all its previous products into the future of banking systems.

The MoneyLine core banking system already covers full suit of offerings including the following :

  • Core System Engine
  • Browser Interface
  • Accounting, Finance and reporting
  • Interest and Charges
  • Credit Limits and Collaterals
  • Loan Originations
  • Loan Management
  • Loan Collection and Arrears Management
  • Deposit and Investment Contracts
  • Current Accounts
  • Savings Accounts
  • Teller Processing
  • Transaction Processing Applications
  • Tax and Commissions
  • External Transaction Interface Engine
  • Online Banking
  • Mobile Banking
  • MIS/Business Intelligence
  • Forex
  • Money Market
  • Treasury Bills, Bonds etc
  • Islamic Banking
  • SME Banking
  • Others…
2. Our Purpose and Destination

Our Purpose for everything we do always includes the following :

  • To provide software related services with attractive cost/benefit ratios to our partners (banks)
  • To create services and software brands that outlives its builders
  • To server financial institutions as a technology partner and not a vendor
  • To give back to all communities we are part of
  • To work hard, be compliant with the law and elevate all through profitability

Our committed destination is a reputable place in the banking community in which we are embraced as a premium products and services brand. A brand that is truly useful and  largely indispensable to banks in the regions we focus on. A place that by default generates and sustains  mutually beneficial relationships with financial institutions across our regions of focus.

The company has been founded on the principle that “you can be more than a client”. The company believes that a client vendor relationship is founded upon  the principle of separate responsibilities. SATSO believes in (and strongly) promotes and practices the principle of “Joint Responsibilities.

South Atlantic Solutions rather believes in the view that a bank should be a joint venture operative in all projects and services. This trains both our consultants and the bank’s “IT” staff to realize that jointly they fail or succeed.

3. Our Advantage

South Atlantic Solutions has full resident skills and knowledge required continue to grow its product suit and remains committed to meeting the needs of the banks in the Africa, Asia, middle east  and other emerging economic regions.

Due to SATSO’s implementation experience and methodology, the company is able to offer very reasonably priced projects to banks. If conditions are satisfactory, fixed cost projects are applicable.

SATSO is able offers an African client  support system largely run from South Africa thus being within acceptable time difference to all African time zones. This guarantees a fully supported post implementation life cycle of their solutions.

The company has a very attractive cost/benefit ratio factored into the pricing model of its products. This ensures best solutions at the most suitable costs.

SATSO’s products within the MoneyLine Core banking solution have been tried and tested and proved to be far better than notable international banking systems.

4. Our Other Experiences

In Banco Terra Bank Of Mozambique, South Atlantic Solutions replaced initial vendors  as the T24 implementation company for the purpose of implementing a full range T24  set of modules and core.

South Atlantic Solutions began a re-implementation and completed the implementation to the satisfaction of the bank within promised time frames.

South Atlantic Solutions has successfully implemented some of its T24 business modules in several T24 banks upgrading them successfully through all releases of T24 for the banks.

South Atlantic Solutions has performed T24 upgrade services for T24 banks and is still a preferred partner to do so in many cases.

South Atlantic Solutions has provided several T24 services and solutions over the years to several T24 banks across Southern Africa. As a result the company has significant in house experence for all facets of the T24 life of a bank.

South Atlantic Solutions has developed several systems that interface externally to T24 developing interface engines in many such cases. These include electronic banking interfaces, batched data tools interfaces and many more.

As  such the company has full skills and resources for the development of interfaces were ever required.

South Atlantic Solutions in providing solutions for T24 banks within the region has contributed immensely to the satisfaction levels of banks across the region.

Included in its success stories are the following :

  • Successful implementation of T24 at Banco Terra Bank – Mozambique
  • Successful Provision of complete outsourcing of “IT” to Nampost Bank of Namibia
  • Implementation of South Atlantic Solutions T24 modules for Loans in NBS Bank of Malawi, BBS Bank of Botswana, Banco Unico Bank of Mozambique, Banco Terra Bank Of Mozambique
  • Provision of T24 Training for several T24 Banks including Bank Of Botswana and many more
  • Development of interface engines for electronic banking into T24, Data Warehouse systems, Financial Accounting Systems, e.t.c
  • Provision of full T24 support services to several banks in the region for all releases of T24. These include Banco Uninico Bank of Mozambique, BBS Bank of Botswana, NBS Bank Of Malawi, e.t.c
  • Provision of Ad-Hoc support T24 services to several banks in the region including Central Bank Of Swaziland, Bank Of Botswana, Reserve Bank Of Zimbabwe, e.t.c
  • Provision of onsite support services for T24 banks such as NedBank’s Off shore operations (Ned-Core out of South Africa Banks).
  • Full End-to-end T24 treasury implementation for Bank Of Athens – South Africa
  • Many More