Luxembourg, October 12, 2015 – A joint venture of INTRASOFT International has signed a contract with Zambia Electronic Clearing House Limited (ZECHL) for the supply and installation of the National Financial Switch project. The project, which will run in total for 7 years (12-month implementation and 6-year maintenance), is the first of INTRASOFT International in Zambia and in alignment with the company's strategic plan to reinforce its presence and market share in Africa.

The project involves the development and installation of an open standard-based solution which will enable ZECHL to provide the financial industry in Zambia with a high-performance credit and debit processing system for all domestic transactions conducted on ATMs, POS, Internet and Mobile devices in Zambia. The provided solution will ensure the required stability, availability and performance, while providing world-leading payment infrastructure within Zambia. The joint venture also includes ENFIN Solutions Limited -a Lusaka, Zambia-based professional financial and project advisory company. 

The implementation of National Financial Switch emanates from Government policy. One of the key objectives of the National Vision and Strategy 2013 -2017 is the development of a retail payment system infrastructure that will promote interoperability of all retail, bank-led and non-bank-led payment systems. 

The solution is based on the IST/Switch System of FIS Global, the largest global provider of banking and payments technologies and a long-term INTRASOFT International partner. The system is used by over 150 customers globally, namely national switches and multi-institution processors, while it has been certified by all major payment networks both as an issuing and acquiring system.

Mr. Alexandros Manos, CEO of INTRASOFT International  commented: “We are very pleased to be selected to contribute to the transformation of the National Payment System of Zambia, thus promoting financial inclusion and economic development in the country. Additionally, we are very proud of this latest award, as it adds Zambia to the group of African countries, where INTRASOFT International is present, delivering high-quality services to its clients.”

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About Zambia Electronic Clearing House Limited (ZECHL):

ZECHL is a non-profit joint venture between the Bank of Zambia and  commercial banks, established in 1999 to provide  national inter-bank clearing facilities.  Its mission is to provide efficient, reliable, secure and cost-effective inter-bank electronic funds transfer and clearing services in Zambia. 

About INTRASOFT International

INTRASOFT International is a leading European IT Solutions and Services Group with strong international presence, offering innovative and added-value solutions of the highest quality to a wide range of international and national public and private organisations. The company employs more than 1,600 highly-skilled professionals, representing over 20 different nationalities and mastering more than 18 languages. With headquarters in Luxembourg, INTRASOFT International operates through its operational branches, subsidiaries and offices in 18 countries: Belgium, Bulgaria, Denmark, Cyprus, Greece, Iraq, Jordan, Moldova, Morocco, Romania, Palestine, Philippines, Saudi Arabia, UK, UAE, USA and Yemen. More than 500 organizations in over 70 countries worldwide (Institutions and Agencies of the European Union, National Government Organizations, Public Agencies, Financial Institutions, Telecommunication Organizations, and Private Enterprises) have chosen the company's services and solutions to fulfil their business needs. www.intrasoft-intl.com

Information for Press only

Kalliopi CHIOTI, Communications & CSR Manager, INTRASOFT International

Tel. +352 44 10 12 2178 & +30 6951 008800

E-mail: Kalliopi.Chioti@intrasoft-intl.com