CAIRO, Egypt – March 7, 2018 – Temenos (SIX: TEMN), the banking software company, today announces that Banque du Caire has selected Temenos Transact Core Banking as part of its vision in becoming the region’s leading bank. Banque du Caire has chosen Temenos’ leading T24 Core Banking solution to replace its current solution. T24 will be deployed along with Temenos solutions for Channels, Financial Crime Mitigation, Front Office, Payments, and Risk & Compliance. With this comprehensive technology upgrade, Banque du Caire will be empowered to not only realise its growth strategy in a cost effective way, but also to bring cutting-edge banking services to its 2.7 million customers in Egypt.
With accelerated time to market for new products and an enhanced user experience across channels and devices, this signing cements Banque Du Caire’s commitment to providing the products and services that the Egyptian public needs. Banque du Caire is a multi-award winning, full-service bank that provides a complete array of products and services to the retail and corporate markets. The bank plays an effective role in financing vital sectors of the national economy through participating in the syndicated loans serving different sectors, as well as in financing SMEs and Microfinance projects. By implementing Temenos proven and upgradeable software, Banque du Caire continues to ensure that the 10,000,000 million transactions processed monthly are fast, secure, and compliant, as well as providing world-class products and services to consumers and small business owners across Egypt.
Tarek Fayed, Chairman and CEO, Banque du Caire, commented:
“Banque du Caire is capitalizing on its strong positioning in the market to accelerate its growth levels in the coming years. The partnership with Temenos will help the bank in achieving its objectives by upgrading its technological platform in attempt to introduce up-to-date digital financial services. Collaborating with Fintech solutions through open banking that goes in line with the CBE endeavors to develop and support the country’s financial inclusion strategy providing the latest global standards in such field. BDC digital financial solutions will bring to our customers a highly responsive service, tailored products and a truly customer-centric experience.”
Jean-Paul Mergeai, Regional Director – MEA, Temenos, stated:
“Temenos is excited to have been chosen by Banque du Caire as one of their primary technology partners to expand through innovation and operational excellence, and to transform the bank from a product-centric to a customer-centric model. This strategy aligns perfectly with Temenos’ vision which has enabled us to develop a packaged, upgradable and innovative core banking platform which is used by more than 1000 financial institutions globally.”