Bank ABC, Temenos & NdcTech join hands
Islamabad: Bank ABC, one of MENA’s leading international banks, has signed agreements with Temenos and NdcTech to replace its core banking systems for its retail, corporate and wholesale businesses and power its subsidiary, ila Bank, the MENA region’s fast growing digital mobile-only bank, with Temenos’ core banking platform on the Cloud.
With this transformation project, to be implemented by NdcTech (a Systems Limited Company), Bank ABC will replace its legacy core banking systems for its network of operations serving customers in twenty-five markets from fifteen countries worldwide with a single instance of the Temenos platform. NdcTech will also be providing end-to-end managed services to enable Bank ABC to run its operations seamlessly on the cloud.
Consolidating multiple back-end systems on the Temenos platform in the Cloud will enable Bank ABC to drive scalable efficiency, with a single dashboard and complete 360- degree customer view across business lines and geographies.
Sael Al Waary, Acting Group CEO, Bank ABC, commented: Today, marks a momentous milestone in our journey to build our bank of the future. Consolidating our banking systems on a single platform will give us a robust foundation to accelerate growth and create significant value for our stakeholders. Temenos offers an ideal Cloud-native solution with the breadth of banking functionality needed to support all spectrums of our wholesale and retail businesses. I am confident that this next-generation core banking system will drive further operational efficiencies for the Group, enabling us to become even more responsive and adaptive to our clients’ ever-evolving needs.”
Ismail Mokhtar, Group Chief Operating Officer, Bank ABC added: “Achieving operational agility is crucial for the future success of Bank ABC. We are continuously exploring leading-edge technologies to enable our ambitious expansion and digital transformation aspirations. Temenos’ platform will enable us to efficiently scale our services.
William Moroney, Managing Director – Middle East & Africa, Temenos, said: “We are delighted to have been selected by Bank ABC to transform its core banking systems and power the MENA region’s fast growing digital mobile-only ila Bank on a single platform in the Cloud.
Ammara Masood, CEO and President, NdcTech, said: “We are pleased to be putting our combined strengths to work, allowing Bank ABC to innovate faster using Cloud capabilities to grow their business while meeting sustainability commitments.