The Saudi Export-Import Bank (Saudi EXIM Bank) has implemented Temenos’ cloud-native core banking platform, going live in just six months.
Temenos enabled Saudi EXIM Bank to drive operational and financial efficiency, making it faster and easier for businesses to access trade finance, promoting job creation and economic growth in the Kingdom of Saudi Arabia (KSA).
Saudi EXIM Bank worked closely with Temenos and its consultancy and implementation partners, which brought deep local market expertise.
Furthermore, Temenos KSA Model Bank approach offered pre-packaged functionality and best practices, which helped the bank meet its business and regulatory requirements in a timely and effective way.
Saudi EXIM Bank provides holistic financial services, catering specifically to the needs of businesses in KSA engaged in international trade.
The bank was established in 2020 to promote the export of Saudi non-oil products and boost their competency across economic sectors in the global markets. Saudi EXIM Bank provides financing services, guarantees, and credit insurance.
H.E. Eng. Saad Bin Abdulaziz AlKhalb, CEO of Saudi EXIM Bank said,
“Our core banking system implementation with Temenos is a step forward for Saudi EXIM Bank to better equipped for achieving the development goals of the Kingdom’s Vision 2030.
It will enable faster transaction processing times, improved customer experience, and a more efficient use of resources. It will also help us to better manage risks, with improved data analytics and real-time monitoring capabilities.”
William Moroney, Managing Director – Middle East and Africa, Temenos, said:
“I would like to extend my congratulations to the team at Saudi EXIM Bank on their go-live with the Temenos cloud-native core banking platform. Implementing a new core banking system in under six months is a fantastic achievement.
Temenos has a strong presence in the Middle East region with the experience of taking many of the region’s leading banks live on our platform.”
Featured image credit: edited from freepik