Jordan Ahli Bank chooses T24 to extend its operations in Jordan and across the Middle East
Temenos Community Forum, Barcelona – 24th May 2012 – Temenos, the global provider of banking software, today announces that Jordan Ahli Bank, a leading Jordanian institution, has chosen to deploy Temenos’ market leading core banking solution, T24, to support its ambitious growth strategy in Jordan and across the Middle East. The selection of T24 supports a wider initiative by Jordan Ahli Bank to strategically transform the institution, focused on five major pillars of change: enhanced segmentation, human resource management, intensified sales and marketing, advanced risk management, and a state of the art enterprise architecture.
Jordan Ahli Bank is launching an enterprise-wide transformation program codenamed ’DNA’ – the new IT platform will in essence become the DNA of the bank, fundamental to the way that the bank operates. The DNA program maximises shareholder and stakeholder value by restructuring the bank’s organisational structure, operating model and core technology.
The agreement was signed today at the Temenos Community Forum in Barcelona, where His Excellence Mr. Marwan Awad, CEO of Jordan Ahli Bank, commented: “In addition to its leading solutions and innovative model bank approach, Temenos has shown a deep understanding of the Jordanian and Middle East markets’ local requirements and how to fulfil these using its strong business and product configuration tools. We will work progressively with partners like Temenos to build a strong foundation for execution, based on productised solutions which incorporate the latest standards and best practices in the banking industry. This is a hugely significant program of transformation for Jordan Ahli Bank, and we believe Temenos is the partner to deliver us our vision.”
Guy Dubois, CEO of Temenos, added: “We are honoured to have been chosen by Jordan Ahli Bank as a partner for this ambitious core banking transformation project. We share a common mindset to maximise the use of standard capabilities and processes of solutions. Open, integrated, componentised and upgradable solutions are in our DNA at Temenos, with our aims supported by a dedicated professional services organisation and a strong partner ecosystem. I am confident that this partnership will help Jordan Ahli Bank to expand its operations across the Middle East seamlessly through a componentised approach, and deliver success at a local level which will help the wider aims and strategy of the bank.”
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About Temenos Founded in 1993 and listed on the Swiss Stock Exchange (SIX: TEMN), Temenos Group AG is the market leading provider of banking software systems to retail, corporate, universal, private, Islamic, microfinance and community banks, wealth managers, and financial institutions. Headquartered in Geneva with more than 60 offices worldwide, Temenos is proven in over 1,500 customer deployments in more than 125 countries across the world. Temenos’ software products provide advanced technology and rich functionality, incorporating best practice processes that leverage Temenos’ expertise around the globe. Temenos customers are proven to be more profitable than their peers: as of April 2012 – over the last 3 years Temenos customers have enjoyed on average a 30% higher return on assets, a 46% higher return on capital and a cost/income ratio that is 8.5 points lower than non-Temenos customers.
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About Jordan
Ahli Bank Jordan Ahli Bank (previously Jordan National Bank) is a leading Jordanian institution, with a steeped national history & heritage. Established in 1955, Jordan Ahli Bank was the first national bank to be established in East Jordan. For 50 years, the bank has been a leading player in the financial services industry in Jordan and beyond. Today, its regional presence extends across in Lebanon, Palestine and Cyprus
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