Temenos has announced that First Abu Dhabi Bank (FAB) is expanding its existing collaboration with the banking technology provider through a new initiative in Saudi Arabia.

The project focuses on modernising FAB’s core banking and payments platform for its Islamic banking operations.

The initiative supports FAB’s alignment with local regulatory requirements in Saudi Arabia and strengthens governance across its operations in the country.

As part of the deployment, FAB will implement Temenos Core Banking, Payments Hub and Data Hub on cloud infrastructure within Saudi Arabia.

The new setup is expected to support FAB in delivering Shari’ah-compliant banking services across retail, SME and corporate segments. It also enables compliance with applicable regulatory standards.

FAB said the decision to extend its engagement with Temenos reflects the provider’s track record in banking systems, cloud-native architecture, and experience in the region.

Temenos’ presence in Saudi Arabia and its work with other Islamic banks were also factors in the decision to expand the partnership.

FAB has worked with Temenos for over a decade and currently runs multi-entity instances of Temenos Core Banking across 12 countries.

The Saudi Arabia deployment builds on this long-standing relationship.

Fahad Aljuwaidi, CEO, FAB Saudi Arabia, said:

“In alignment with Saudi Vision 2030, we are actively contributing to the transformation of the financial sector by strengthening governance, enhancing regulatory standards and introducing innovative banking solutions.

Santhosh Rao, Managing Director – Middle East and Africa, Temenos, said:

“We are proud to extend our collaboration with FAB in Saudi Arabia, one of the region’s most dynamic banking markets. Our core banking technology will empower FAB to accelerate its digital transformation and drive operational excellence.

Featured image credit: Edited by Fintech News UAE, based on image by darcraft via Magnific