KARACHI: 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, a statement said on Tuesday.
With the 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 said it would also be providing end-to-end managed services to enable Bank ABC to run its operations seamlessly on the cloud.
The first phase of the project is the implementation of Temenos retail core banking solution and origination on Infinity for ila Bank. It will replace current systems for the digital mobile-only offering in Bahrain and provide the agile core for planned greenfield expansion. Subsequently, Bank ABC will leverage Temenos’ cloud-native solutions and its open and API-first architecture for easy extensibility and open banking integration to enhance the experience and the services delivered to its customers.