Banking software company Temenos announced that it will be granting license rights to NdcTech, a wholly owned subsidiary of Systems Limited and one of its largest regional system integrators partners.

This will allow NdcTech to further develop and market the Temenos Country Model Banks on top of the latter’s open platform for financial institutions in seven Middle Eastern countries; Bahrain, Kuwait, Oman, Pakistan, Qatar, Saudi Arabia and the United Arab Emirates.

NdcTech will become a trusted partner for upgrade services in those countries to enable customers to seamlessly upgrade their technology stack.

Additionally, all Temenos clients will be able to work with NdcTech and Temenos to enhance the Model Banks and contribute to the product roadmap.

NdcTech and Temenos will open up new business opportunities and drive revenue growth among existing clients through cross-selling by incorporating regulatory requirements and innovations relevant to local market practices.

William Moroney, Managing Director, Middle East and Africa at Temenos said,

“We are excited to announce this agreement with NdcTech, which expands our addressable market and opens new opportunities for growth in these seven counties in the Middle East.

 

NdcTech will invest in the Country Model Banks to accelerate our competitiveness in the region by delivering local IP such as market specific products. With these partnerships we bring additional investment in our platform and scale in specific countries which ultimately delivers incremental growth.”

Ammara Masood, CEO, NdcTech said,

“We are delighted to be granted this license by Temenos to develop Country Model Banks in Pakistan and in the Gulf Cooperation Council (GCC) region.

 

Our deep knowledge of global market practices and regulations coupled with expertise in modern architectures has enabled us to be the trusted partner for the region’s pioneering banks.”

Featured image credit: Edited from Freepik