Established in 1975 as a public shareholding company, Invest Bank offers a wide range of financial products and services for corporate as well as retail banking. Invest Bank intends to leverage Temenos’ event-driven open-API architecture and extensibility framework to go beyond banking and create a lifestyle services platform. The premier commercial bank in UAE, has selected Temenos to take its digital and core banking to the cloud in partnership with NdcTech.
Invest Bank will adopt an end-to-end retail and wholesale banking solution on the Temenos Banking Cloud, becoming one of the first in the UAE to adopt a full SaaS model for its digital and core banking platform. The front-to-back capabilities of Infinity and Transact delivered as SaaS on Temenos’ open platform for composable banking will enable Invest Bank to modernize legacy platforms, bring new products and services to market faster, as well as deliver more innovative customer experiences. Planned enhancements include instant onboarding and origination with automated approvals based on AI-based rules. The bank will also use the Temenos platform to improve operational efficiency with increased automation and digitized workflows.
“We are proud of this partnership with Temenos and NdcTech to transform our digital and core banking. We strive to be a pioneer when it comes to customer experience and digital services and with Temenos, the future is today. The bank’s core and digital banking services will be working seamlessly together on a single platform. This will help us to foster innovation, automate workflows, as well as deliver digital experiences to meet our customers’ evolving needs faster and at a lower cost.”Ahmad Mohamed Abu Eideh, CEO at Invest Bank