Bank ABC, a Bahrain-based bank, has signed an agreement to replace its core banking systems with Temenos’s cloud platform, with NdcTech handling implementation.
Temenos’s core banking platform will also be used for Bank ABC’s subsidiary, ila Bank, a digital mobile-only bank.
NdcTech will provide end-to-end managed services to enable Bank ABC to run its operations in the cloud.
Consolidating multiple back-end systems on the Temenos platform will enable Bank ABC to “drive scalable efficiency, enhance customer experience and lower operational costs”.
During the signing ceremony, Sael Al Waary, acting group chief executive officer at Bank ABC, commented: “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 at Bank ABC, added: “Achieving operational agility is crucial for the future success of Bank ABC.
“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.”
William Moroney, managing director of Middle East and Africa at Temenos, said: “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.”
Ammara Masood, chief executive officer and president at 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.”