Bank ABC collaborates with Temenos and Systems Limited to deploy Next-Generation Core Banking System

In pursuit of building the ‘Bank of the future’, Bank ABC will consolidate its legacy systems across 15 countries on the Cloud-native Temenos platform, in collaboration with Systems Limited to accelerate pace of growth and innovation.  

Bank ABC, one of MENA’s leading international banks, has entered a partnership with Temenos and Systems Limited to replace its core banking systems for its retail, corporate and wholesale businesses and drive innovation for its subsidiary, ila Bank, MENA region’s fastest-growing digital mobile-only bank, with Temenos’ core banking platform on the Cloud. 

By consolidating multiple back-end systems on the Temenos platform in the Cloud, Bank ABC will be able to drive scalable efficiency, with a single dashboard and complete 360-degree customer view across business lines and geographies. During the first phase of the project implementation of Temenos retail core banking solution and origination on Infinity for ila Bank will be carried out. This will replace the current system for the digital mobile-only offering in Bahrain and offer an agile core for planned greenfield expansion. Subsequently, Bank ABC will utilize Temenos' cloud-native solutions and its open, API-first architecture to facilitate seamless extensibility and integration of open banking. This will lead to improved customer experiences and enhanced services offered by Bank ABC.  

A gradual transformation of the Group-wide core banking infrastructure will enable Bank ABC to benefit from Temenos’ broad set of banking functionality and operational efficiencies across its retail and wholesale banking operations. Systems Limited will provide its country model bank accelerators combined with in-depth knowledge and experience to drive value as a part of Bank ABC’s transformation journey. As the banking industry undergoes constant evolution, banks are increasingly recognizing the advantages of cloud adoption to maintain agility. Systems Limited's comprehensive Managed Service on the cloud effectively fulfils this promise.