Why Temenos Leap can be transformational for our clients in MEA

Lee Allcorn – Managing Director, Middle East & Africa

This year, Temenos has embarked on Temenos Leap. This is an accelerated modernization program that enables existing clients to move to the latest version of our software that is ready for the Cloud and SaaS.

I’m particularly excited about the opportunities Leap presents in the Middle East and Africa (MEA), and we’ve made the program a key strategic priority for us in the region this year. But why?

Let’s start by looking at the evolution of banking in MEA. The global shift from conventional to digital banking methods has been accelerated by the COVID-19 pandemic, and that’s been particularly pronounced in the Middle East and Africa. This fits with the wider boom in digital transformation in the region, given further momentum by campaigns like the UAE’s Financial Infrastructure Transformation program and Saudi Arabia’s Financial Sector Development program. The same can be said in North Africa, where banks like ATIB are using our cloud-native platform as they strive to become the leading digital bank in the region.

With this shift to digital comes increasing customer expectations for seamless, embedded banking experiences. To deliver on these expectations, banks need the agility to innovate and scale new products and services, with fast time to market, all while delivering greater cost efficiency.

Leap is all about ensuring our clients have these capabilities through the latest version of our modern, cloud platform. This can be achieved in just 3-6 months, by combining the power of our 30 years’ implementation experience, highly focused project scopes and AI tooling. The streamlined process also reduces project costs and lowers risk, meaning total Return on Investment is increased and business benefits can be realized sooner.

We have a lot of clients in MEA on older instances of our technology. Frankly, that doesn’t allow them to benefit from the full potential of our platform, and it means Temenos can’t demonstrate the true impact we can have on banking in the region.

With Leap, this is changing, as banks gain the business agility to operate more efficiently and stay at the forefront of technological changes. We’re already seeing MEA success stories like Qatar’s Lesha Bank, a long-standing Temenos customer that moved to the latest banking platform to streamline its processes and offer innovative products.

We have many more clients who will be following Lesha’s example, both in the Middle East and in Africa. I’m really excited to see the benefits this Leap will have for our clients, as they thrive in today’s banking world, expand into new sectors and markets, and stay ahead of their competitors. As we continue to deepen our relationship with these clients, this collective impact will show the true power of Temenos and our Partners to make banking better in MEA.

To learn more about what Temenos Leap can do for you, reach out to me or click here

Filed under:

Lee Allcorn – Managing Director, Middle East & Africa