CBS’ new CORE Banking System goes live

The Central Bank of Seychelles (CBS) has successfully implemented its new CORE banking system, the Quantum CORE Banking System (QCBS). The system went live on Monday, 12th May 2025, the culmination of about two years of project planning, development, training, testing, and deployment to ensure a smooth transition from its previous CORE Banking System.

The QCBS is the new system that works in the back-end of CBS’ banking operations. It provides for the processing of daily banking transactions, reporting, and workflows across various divisions of CBS. It also integrates with the main payment systems operated by CBS, such as the Seychelles Electronic Funds Transfer (SEFT) and Electronic Cheque Clearing (ECC) systems. It is designed with improved technology and features to enhance operational efficiency and is a significant step in CBS’ broader strategy to modernise the national payment system, strengthen operational resilience, improve service delivery, and support the continued development of a sound and efficient financial system in Seychelles. It effectively
replaces CBS’s first CORE Banking System that had been in operation since its initial deployment in December 2010.

The project was awarded to Intellect Design Arena FZ LLC, formerly known as Polaris Software Lab Limited, following an open bidding procurement process initiated in October 2021, and the implementation began in March 2023.

The QCBS is expected to facilitate the introduction of other new payment platforms that CBS intends to introduce in the future.

As with all new initiatives, some temporary delays in payments processed through CBS may be encountered, over the coming weeks. CBS endeavours to maintain its high level of payment service delivery and counts on the collaboration of its stakeholders, as well as the understanding of the public, while the system stabilises.