April 15, 2015
The Chinese bank in Saudi Arabia has successfully implemented the latest Temenos Transact and Financial Crime Management solution with seamless assistance from Systems Limited.
The largest bank in terms of total assets has established a branch in Riyadh, the capital city, marking its status as the first Chinese bank with both retail and corporate operations in the kingdom. This expansion represents the bank's fifth location in the Arab world. The primary challenge was to swiftly integrate multiple products and local interfaces to ensure system readiness for going live, contingent on approval from the Saudi Monetary Authority. Furthermore, the project incorporated the implementation of the Temenos Saudi Model Bank, significantly expediting the deployment process.
Saudi Arabia stands as China's foremost partner in the Arab region, representing a crucial investment destination and a significant market for project contracting. This relationship has yielded rapid growth and substantial bilateral trade. The bank anticipates benefiting greatly from the extensive functionality offered by the Temenos platform.