March 22, 2023
In pursuit of building the ‘Bank of the future’, Bank ABC will consolidate its legacy systems across 15 countries on the Cloud-native Temenos platform, in collaboration with NdcTech, a subsidiary of Systems Limited, to accelerate pace of growth and innovation.
Bank ABC, one of MENA’s leading international banks, has entered a partnership with Temenos and NdcTech to replace its core banking systems for its retail, corporate and wholesale businesses and drive innovation for its subsidiary, ila Bank, MENA region’s fastest growing digital mobile-only bank, with Temenos’ core banking platform on the Cloud.
By consolidating multiple back-end systems on the Temenos platform in the Cloud, Bank ABC will be able to drive scalable efficiency, with a single dashboard and complete 360- degree customer view across business lines and geographies. During the first phase of the project implementation of Temenos retail core banking solution and origination on Infinity for ila Bank will be carried out. This will replace the current system for the digital mobile-only offering in Bahrain and offer an agile core for planned greenfield expansion. Subsequently, Bank ABC will utilize Temenos' cloud-native solutions and its open, API-first architecture to facilitate seamless extensibility and integration of open banking. This will lead to improved customer experiences and enhanced services offered by Bank ABC.
A gradual transformation of the Group-wide core banking infrastructure will enable Bank ABC to benefit from Temenos’ broad set of banking functionality and operational efficiencies across its retail and wholesale banking operations. NdcTech will provide its country model bank accelerators combined with a in-depth knowledge and experience to drive value as a part of Bank ABC’s transformation journey. As the banking industry undergoes constant evolution, banks are increasingly recognizing the advantages of cloud adoption to maintain agility. NdcTech's comprehensive Managed Service on the cloud effectively fulfills this promise.
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.
SAEL AL WAARY
ACTING GROUP CEO, BANK ABC
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. In addition, hosting our core banking system on the Cloud will significantly increase our levels of security and resilience. We look forward to working with Temenos and NdcTech teams during the implementation phase and reaping the benefits of this investment.
GROUP CHIEF OPERATING OFFICER, BANK ABC
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. Temenos gives customers freedom to implement on the public Cloud of their choice and is the trusted platform for thousands of banks worldwide. Our proven expertise taking banks live on the Cloud, including many in the Middle East region, gave Bank ABC full confidence in Temenos to successfully deliver this complex project with NdcTech.William MoroneyManaging Director - Middle East & Africa, Temenos
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. What sets NdcTech apart is our accelerators, hands-on experience within global markets and how we keep the end-user experience in mind while driving digital transformations. NdcTech services and country model on the Cloud platform paves the way for banks to deliver mission-driven products and services that delight their customers.
Global Industries GM Banking and Financial Services, Systems Limited