UAE commercial bank Invest Bank has selected Swiss banktech company Temenos to take its digital and core banking services to the cloud, in partnership with IT service provider NdcTech.
Invest Bank will adopt an end-to-end retail and wholesale banking solution on Temenos Banking Cloud for elasticity to meet growing customer demand, especially among Gen Z and millennials.
Planned enhancements include instant onboarding and origination with automated approvals based on AI-based rules, as well as improved operational efficiency, automation and digitised workflows.
Invest Bank says that it also intends to leverage Temenos’ open-API architecture and extensibility framework to go beyond banking and create a lifestyle services platform.
Other Temenos clients in the Middle East include Pakistan’s digital bank UBL, Egypt’s Arab Investment Bank, and Saudi Arabia’s digital wallet startup STC Pay.
Ahmad Mohamed Abu Eideh
“We strive to be a pioneer when it comes to customer experience and digital services and with Temenos, the future is today,”
said Ahmad Mohamed Abu Eideh, CEO, Invest Bank.
William Moroney
“In choosing Temenos, Invest Bank is preparing for the future, opening opportunities for new growth and new possibilities for its customers,”
said William Moroney, Managing Director – MEA, Temenos.
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