Baiduri Bank is one of the largest providers of financial products and services in Brunei, and serves diverse customer segments ranging from retail, MSMEs to corporate and institutional clients. The Bank offers a comprehensive suite of digital solutions including an award-winning mobile banking app and dedicated business digital banking service. The bank will adopt Temenos banking services for core banking, data analytics and financial crime mitigation (FCM) to support its retail and corporate banking, finance and wealth management operations. With this move, Baiduri Bank will be the first bank in Brunei to operate its core banking platform in the cloud under the SaaS model.
Since 2020, we have embarked on a digital transformation journey with the aim of leveraging technology to elevate operational efficiency, analytical capabilities and ultimately, customer experience. Our core banking project, a strategic investment will be the next, and most significant milestone in this journey.”
Ti Eng Hui, Chief Executive Officer, Baiduri Bank
Replacing legacy systems with Temenos modern SaaS on Microsoft Azure will enable Baiduri Bank to offer superior customer propositions with personalized offerings at a fraction of the time and cost. The move to Temenos Banking Cloud will commence in 2023, led by Temenos implementation partner Tech Mahindra. Temenos Banking Cloud allows Baiduri Bank to progressively renovate its IT landscape using a composable banking approach to deploy new services faster, more cost-effectively, and at scale.
To succeed in the fast-evolving digital landscape, we need flexible, scalable solutions that are both responsive and efficient. Temenos Banking Cloud opens up new opportunities for Baiduri Bank by providing instant access to world-class banking capabilities and the flexibility to consume what we need as we need it. Moving to SaaS for core banking is a first for a Brunei bank and a major step forward for Baiduri Bank. We engaged IDC to undertake a thorough market evaluation and Temenos was selected for its composable architecture and breadth of banking services to meet our current and future needs.”
Ti Eng Hui, Chief Executive Officer, Baiduri Bank
