Sector: Retail Banking
MIDBANK
Laying the Foundations for a Digitally Driven Future
Giza, Egypt
At a Glance
• Established bank in Egypt undergoing full digital transformation.
• Went live in April 2025 with Temenos core, payments and data hub.
• Reduction in transaction processing times.
• Increasing in customer satisfaction.
• Faster time to market for new products.
MIDBANK is a 50-year-old financial institution based in Egypt. Originally founded in 1975 as a project finance and investment bank, it has evolved into a full-service commercial bank. With renewed leadership and a strategic vision launched in 2020, MIDBANK is repositioning itself as a progressive force in Egypt’s banking sector.
Turning point for transformation
For years, MIDBANK operated on a legacy core system written in-house. This outdated setup was inflexible and increasingly risky, with institutional knowledge tied to a shrinking number of staff. “We had a block on the way of really progressing our system,” said Amr El-Garhy, CEO & MD of MIDBANK. “It was clear we needed to move to a modern core.”
MIDBANK was also facing external pressures. “The technology landscape is changing very fast,” explained Amr. “We’ve seen a revolution in fintech companies covering consumer finance, microfinance, payments, and more. And now they’re being joined by telecom companies.”
That prompted a full-scale assessment, and subsequent overhaul, of the bank’s technology systems. MIDBANK brought in Ernst & Young to define a five-year IT strategy and lead the vendor selection. Temenos emerged as the winner after a structured technical and financial evaluation amongst multiple contenders.
There were vendors pitching very aggressively, but with no track record in our market. And you can’t risk that. For a massive project like this, you need someone you can trust.”
Amr El-Garhy, CEO & MD, MIDBANK
The ‘Big Bang’ approach
In April 2025, MIDBANK went live with Temenos Core, Payments Hub (TPH), Financial Crime Mitigation (FCM), Arrangement architecture (AA), and Temenos Data Hub (TDH), all deployed on-premises. The bank opted for a ‘big bang’ go-live, switching off the legacy system entirely and migrating to Temenos in a single move.
“We turned off the light on one system, and turned on the light on another,” Amr said. “It was a bold decision, but we were well prepared.” The launch of digital channels is now in advanced testing, with Temenos Digital set to go live following regulatory approvals.
Key partners included ITSS for implementation and DXC for testing. While early phases brought challenges, the collaboration quickly aligned. “We made sure we had a proper PMO empowered to pull the strings across all teams. That made the difference,” Amr explained.
Measurable impact
The results have been swift and significant. MIDBANK has the ability to work on reducing transaction processing times and annual saving in operational cost, and improving in customer satisfaction. Customers will benefit in the coming period from faster services, better product availability, and a more modern digital experience.
It is an artistic expression of how digital transformation reshapes end users’ financial lives—through cutting-edge technological innovations, accelerated service delivery, and enhanced user experience. It reflects the dual mission of driving operational efficiency and reinforcing regulatory compliance, as pivotal forces for sustainable economic growth and inclusive development, in alignment with Egypt Vision 2030 and the Central Bank of Egypt. Internally, automation has decreased the reliance on manual operations, freeing staff to focus on higher-value tasks. “The capacity in the system is so strong and robust that it helps us resolve things much more quickly,” Amr said.
Close ties
Temenos offered MIDBANK more than just software. Its local presence, proven track record in Egypt, and strong ecosystem of partners brought credibility and confidence to a high-stakes transformation.
Temenos was attentive at the moments that really mattered. They brought in more resources when needed, stayed close to the project, and showed genuine commitment to our success.”
Amr El-Garhy, CEO & MD, MIDBANK
That collaboration extended across stakeholders, from internal teams to third-party vendors. “With a project of this complexity, if one stakeholder fails, the whole thing can suffer. Temenos ensured we all stayed committed and aligned.” That ethos remains. “We have access to a 24/7 support service from Temenos. If we have any questions, we know we can go straight to the chat and there’ll be someone there to help us immediately,” Amr said.
Moving to AI
With core systems now live and digital channels on the brink of launch, MIDBANK is already planning for what comes next. A major focus is the integration of AI into its retail and SME operations. Inspired by discussions at the Temenos Community Forum, Amr is preparing to deploy a dedicated team to explore how tools such as Temenos Product Manager Copilot can help bring new offerings to market faster.
With Temenos as a strategic partner, MIDBANK is well-positioned to shape the future of digital banking in Egypt.
We’re seeing the benefits, and now we’re thinking about how to lead the next wave of innovation. Now is the time to push forward.”
Amr El-Garhy, CEO & MD, MIDBANK
We partnered successfully with:
ITSS provides high-quality services for banks with Temenos Transact in parts of Africa, Middle East, Asia and Latin America.
Banking solutions for all segments
Empowering banks across segments with scalable, innovative, and efficient solutions.
Customer Success Stories
Real stories of transformation with Temenos solutions.
Hamilton Reserve Bank
Becoming the largest global bank headquartered in the Caribbean through end-to-end digital transformation
Nevis, Saint Kitts and Nevis
At a Glance
- US$2 billion+ in total assets, after deploying Temenos solutions in only 9 months
- Record time in launching Temenos LEAP and Temenos Digital Banking in 7 months
- 800% growth in total deposit, custodian assets, a pristine BSA/AML compliance history
- 140% growth in client base in the first six months since deploying the Temenos solutions
- 620% growth in revenues and net income, robust AI-powered compliance programs
- Cuts fully compliant new client onboarding 100% online via STP from 5 days to 20 minutes for individuals and 1 day for businesses
- Real time bank SWIFT wires, including 3rd party wires executed in 5 seconds in 126 currencies
- 250% lift in operational efficiency and staff productivity
Hamilton Reserve Bank combines the investment and commercial banking expertise of Wall Street financial strength and execution efficiency with a strong British heritage. Since 1994, the bank or its affiliates have offered a wide range of integrated services to a worldwide clientele from more than 150 countries, including private and business banking, asset protection, custodian banking, wealth management, trust and escrow services, family offices, investment banking, and new business formation. Accepting deposits in multiple global currencies and digital assets, Hamilton Reserve Bank is a truly global bank with offices and representatives located around the world.
Akinnia Glasgow, Senior Manager, Business and Private Banking of Hamilton Reserve Bank, explains: “With a global workforce, we are headquartered on a sprawling 12-acre bank campus in Saint Kitts and Nevis, the birthplace of America’s founding father Alexander Hamilton. Our staff comes from 13 countries, speaking 15 different languages, and 80% of our colleagues are female. We serve clients from more than 150 countries, communicate in 13 languages and accept deposits and payments in 126 different currencies. Our client mix is 65% businesses and 35% individuals. We are always looking to expand through advanced financial technology. For example, we have presence in Asia, Panama, Dubai, other MENA regions, EU, North and South America, and Africa. Across our 24/7 operations around the globe, we pursue a client-first philosophy, working tirelessly to improve the prosperity of the individual and business customers that rely on us daily for their banking needs.”
Hamilton Reserve Bank strives to create products tailored to meet the unique requirements of its global clients that value speed, safety, and privacy. Similarly, the bank aims to make every client interaction an easy, fast, secure, and frictionless experience — from new account onboarding 100% online to fast payments executed in seconds and 24/7 digital access allowing multiple signers and controls in omnibus accounts; all backed up with robust security, privacy, and top compliance measures. The bank chose Temenos for its highly reputable and dependable core banking system with exceptional transaction and real-time monitoring capabilities demanded by large global correspondent banks.
“Our previous core banking tools had limited integration capabilities,” adds Akinnia Glasgow. “Key processes such as manual client onboarding could take 5 days for staff to approve account applications. As customer onboarding exploded with many new account applications waiting to be processed, we had to scale our global operations through a fresh approach. The flexible Temenos modules became our solution after we had rejected many others. We signed an 11-year agreement with Temenos as a key partner and devoted a US$30 million IT budget to build a large bank well positioned to serve a worldwide client base. We are very pleased and have not looked back since.”
Implemented full-scale systems modernization through facial recognition technology
Hamilton Reserve Bank planned a comprehensive overhaul of its core and client-facing solutions. From an internal perspective, the bank decided to implement Straight-Through Processing (STP) to improve the speed, accuracy, and efficiency of back-office workflows. Through Temenos STP, the bank has seen growth up to 800% in total deposit and custodian assets. Similarly, the bank knew that sophisticated authentication tools would ensure accurate KYC and real time transaction monitoring, meeting stringent compliance targets while mitigating operational risk.
“For new clients, we target a streamlined and fully compliant application journey that has enabled seamless onboarding within minutes,” continues Prabhakar Kaza, the London-based CEO of Hamilton Reserve Bank who has 40 years of banking experience. “And we wanted to enrich our service portfolio, adding advanced functionality such as processing 126 different customer deposit currencies and digital assets in real time, as well as 24/7 digital account access verified through government-grade facial recognition solutions.”
“Since adopting Temenos, Hamilton Reserve Bank has not had a single incident of wire payment loss of any sort due to mistaken identities. Our customers initiate wire transfers online via facial recognition that automatically matches their valid passports already on file. All wire details must be entered directly by our customers. The bank only processes wires submitted in the highly secure and identity verified Temenos environment.”
– Sebastian Ambrose, Senior Regulatory and AML Counsel at Hamilton Reserve Bank
Deployed fully integrated Temenos solutions in record time of 9 months
To support a rapidly expanding global clientele, Hamilton Reserve Bank looked for a technology partner with the latest market-leading core and digital banking solutions. After evaluating many vendors, the bank selected Temenos to concurrently deploy Temenos Core, Temenos Digital, Temenos Payments, and Temenos Financial Crime Mitigation, and has since also installed the latest Temenos Digital and Temenos LEAP modules (2024 version) to automate business customer onboarding, reducing 24/7 client onboarding time from one day to one hour — providing end-to-end capabilities covering product development, client acquisition, compliance, risk management, and more. This has positioned Hamilton Reserve Bank as one of the first in the world to offer a full range of the latest Temenos solutions to its clientele.
Adrian Joseph, an IT manager at Hamilton Reserve Bank comments: “Temenos offers an outstanding breadth of functionality that has helped improve our operations and grow our client base. It allows Hamilton Reserve Bank to integrate with many other solution partners such as Mastercard Cross-Border Services, our direct correspondent banks including Banco Santander, The Bank of New York Mellon (BNY), among others, giving our bank flexibility and agility to drive both financial and compliance KPIs. We also love that Temenos is continuously updating its solutions which has enabled Hamilton Reserve Bank’s core banking software and other modules to operate on the latest Temenos solutions.”
Launching Temenos, Hamilton Reserve Bank dedicated a large IT budget and went live in just nine months. The bank’s operational level has considerably increased the asset base and employee productivity that has also translated into greater margins while achieving stellar regulatory compliance. These efforts have significantly enhanced the bank’s revenue growth. The bank harnessed resources from the Temenos Learning Community (TLC) to concurrently train employees, as Adrian Joseph explains: “The TLC provided excellent learning tools that enabled us to build a thorough knowledge of the solutions quickly and has facilitated adoption among our worldwide staff.”
Delivered ultra-secure, tailored banking services in record speed of 9 months
Powered by Temenos, Hamilton Reserve Bank has achieved new milestones including its recent entry into new markets, expanded many correspondent banking relationships, and winning several prestigious awards recognizing the bank’s advanced fintech advantage.
“Temenos has made it possible for us to process multicurrency wires in real time via SWIFT gpi while we fully comply with regulations from around the world.”
– Merkisha Desir, Senior private banking manager at Hamilton Reserve Bank.
Using Temenos Core and Temenos Digital, Hamilton Reserve Bank has consolidated its back-office operations and digital banking services into a highly efficient ticketing system shared among its colleagues located on several continents. The solutions enable the bank to automate many processes and offer clients instant, round-the-clock anytime banking access, as well as a wider range of customized products. For example, the bank is developing new wealth management solutions using Temenos Enterprise Wealth in collaboration with The Bank of New York Mellon (BNY), the world’s largest bank by custodian assets and Rosenblatt Securities, the largest floor trading firm on the New York Stock Exchange.
With Temenos Payments, Hamilton Reserve Bank now has the capabilities to offer lightning speed cross-border payments to its global clientele. “We can process millions in client transactions every year. Temenos Payments gives us the scalability and sophisticated functionality that we need to provide real-time multicurrency payment options and handle large volumes of transactions quickly, efficiently, and securely,” adds Ghassan Nasr, CEO of International Markets at Hamilton Reserve Bank.
Temenos Financial Crime Mitigation (“FCM”) enables Hamilton Reserve Bank to scan all account applications and transactions in real time, assigning risk scores to all customer accounts to detect suspicious activities, and timely filing regulatory reports as needed. The risk-based FCM solution has allowed the bank to pinpoint specific compliance risks while significantly reducing costs and human errors. Thanks to the Temenos FCM, Hamilton Reserve Bank successfully passes annual BSA/AML/KYC independent compliance audits.
Albert Rodriguez, the Chief Operating Officer of Hamilton Reserve Bank notes: “With the fully installed FCM product family operating at great speed, the bank has automated all client screening processes, helping us to detect potential compliance issues in real time. As we continue to innovate through artificial intelligence, the new Temenos FCM AI agent will come in handy. As we frequently fine-tune our BSA/AML/KYC/KYCC rules within FCM, Hamilton Reserve Bank has maintained a solid compliance record since inception.”
Fast, secure, and privacy – enhancing customer experience throughout
Thanks to Temenos Digital, Hamilton Reserve Bank has accelerated new customer onboarding 24/7 which is now 100% online and self-directed by an account applicant. Back-office automation has improved onboarding speed by 400 percent. Business account applications that previously took five days are now completed in one day. Personal account applications are processed even faster: applicants can finish the entire self-directed onboarding journey 100% online in as short as 20 minutes, fast, safe, and compliant.
“Our enhanced services and online experience have led to excellent client feedback. We have seen a 100% increase in our customer satisfaction ratings since Temenos was installed, with clients valuing the service speed, deposit safety, and asset protection features that we offer. While banking online in a secure and private environment, self-directed customer transactions including internal account balance transfers among related accounts can be completed in seconds, including third party payments.”
– Sir Tony Baldry, Chairman of Hamilton Reserve Bank
The partnership with Temenos has also enabled Hamilton Reserve Bank to accomplish its growth objectives, with a 140 percent increase in client growth within six months after the initial implementation in 2020. The move to a modern, scalable suite of core and digital banking tools provides a robust foundation for rapid international market expansion as the bank is currently experiencing.
“Working with Temenos makes us a highly competitive bank in the global financial markets, with a strong value proposition and high quality of service for our personal and business banking clients,” confirms Howard Anthony Lewis, an enterprise risk specialist and a board member of Hamilton Reserve Bank. “Harnessing the Temenos solutions has positioned Hamilton Reserve Bank as a leading innovator bank, helping us to become the largest global bank headquartered in the Caribbean powered by advanced fintech maintaining a spotless regulatory compliance history.”
Streamlined back-office workflows achieved record financial results
The adoption of Temenos solutions has unlocked major efficiency and productivity gains for Hamilton Reserve Bank. Product teams now build and launch tailored services faster, while automating screening and compliance tasks has freed employees from repetitive manual work—saving time while eliminating human errors. Overall, the bank believes the Temenos system has improved internal efficiency by more than 250%, helping to reduce operational costs significantly. Strategic expansion now centers on Temenos Wealth and Temenos AI, as Hamilton Reserve Bank deepens its collaboration with its correspondent banking partners, The Bank of New York Mellon (BNY), Banco Santander and others to expand global asset custody and deliver sophisticated banking solutions.
“Temenos is an excellent core banking product. The solutions provide a fully integrated digital ecosystem that enables us to accurately deliver client-centric services to our rapidly expanding global customer base, enabling the bank to deliver record financial results year after year. Temenos is now integrated into our marketing programs for client origination and customer satisfaction. As we undertake additional Temenos module enhancements, we are looking forward to working with Temenos for many years to come. Successful banking is all about competent technology. Hamilton Reserve Bank is very pleased to have Temenos on our side.”
– Antonio Kenyatta, the Chief Financial Officer at Hamilton Reserve Bank
Raiffeisen Bank International
Centralizing Skills to Scale Core Banking
Vienna, Austria
At a Glance
- Temenos Core Banking deployed across 5 markets.
- ‘T24 Hub’ established in Poland to centralize expertise, accelerate upgrades, and reduce reliance on external vendors.
- Temenos Customer Success enabled faster implementation, cloud readiness, and group-wide capability building.
Raiffeisen Bank International (RBI) is one of Central and Eastern Europe’s leading banking groups, serving 18 million customers through a network of subsidiary banks in 11 countries. With a mission to become the region’s most recommended financial services provider, RBI has consistently invested in digital transformation to improve speed, cost-efficiency, and increase customer experience.
RBI has deployed Temenos Core Banking in Kosovo, Slovakia, Bosnia and Herzegovina, and in its branches in Poland and China. The group’s relationship with Temenos began in 1999 and continues to evolve with a clear focus on modernization and innovation
Strengthening across borders
Like many European institutions, the group faces the challenge to deliver consistent, seamless digital services, both through branches and online channels. This requires a modern IT landscape that supports agility, shorter time-to-market, scale, and cost efficiency.
Temenos Core Banking plays an important role in RBI’s transformation. Different group entities run various versions of Temenos Core, with the most recent deployment in Bosnia and Herzegovina. RBI is now evaluating upgrades modernization and further deployments, including a broader future shift toward cloud-native banking. This is now a key milestone on its technology roadmap.
Temenos is a reliable partner in one of the most critical areas of our IT landscape. Our joint planning through vendor bodies with Temenos on operational and strategic level and roadmap alignment has allowed us to manage complex implementations across multiple regions.”
– Dr. Chadi Suleiman, Lead for International Core Banking Systems at RBI.
Competence at the core
To support long-term modernization and reduce dependence on external expertise, RBI established a dedicated ‘Competence Centre’ (internally branded as the T24 Hub) based within Raiffeisen Tech in Poland. Raiffeisen Tech is a platform uniting IT talents, providing technical excellence to Raiffeisen Bank International Group. This centralized unit consolidates core banking expertise across the group, helping RBI execute implementations and upgrades with greater speed, consistency, and control. The idea stemmed from the bank’s desire to control core banking capabilities and ensure readiness for future transformation projects
The core banking system is the heart of our IT landscape. So, we wanted to centralize expertise to ensure quality and speed across the group.”
– Dr. Chadi Suleiman, Lead for International Core Banking Systems at RBI.
Piotr Kiryluk, Head of T24 Hub at the bank, added: “The main challenges were to identify what skills we wanted to develop, and at what scale of investment. Operating in multiple regions, each with distinct needs, it was important to take a considered approach, so we could ensure the Centre has relevance.”
The T24 Hub has already played a pivotal role in ongoing implementations, including Temenos Payment Hub at Tatra banka in Slovakia. Lessons learned from pilot projects are now being fed into future rollouts, supporting better planning, execution, and cost optimization across markets.
We’ve been able to embed expertise in local project teams, so there is consistency in how we evaluate, select and implement technologies across the group.”
– Piotr Kiryluk, Head of T24 Hub at RBI
Customer success as a catalyst
A key accelerator in RBI’s transformation has been the dedicated support from Temenos’ Customer Success team. From early planning of the T24 Hub to its certification, Temenos provided proactive support across training, stakeholder engagement, and governance.
“Having a dedicated Customer Success Manager was critical,” said Chadi. “They helped us connect with the right people across Temenos and kept the momentum going. The certification wouldn’t have happened without that level of partnership.”
Building the future
RBI is now working closely with Temenos to assess a group-wide cloud migration strategy for its Temenos Core installations. The T24 Hub will be instrumental in defining and executing this shift, helping RBI move from fragmented deployments to a harmonized, scalable, cloud-native core banking environment.
RBI’s long-standing partnership with Temenos, and the development of the T24 Hub in particular, reflects a shared commitment to transformation and scale. By investing in internal capabilities, the group is well-positioned to modernize further, whether that is with cloud, AI in Core Banking, or other innovations that emerge.
That extends the influence of the partnership beyond modernizing its systems, to shaping the future of banking across Central and Eastern Europe.
Temenos gives us the personal attention and collaboration we need to succeed.”
– Dr. Chadi Suleiman, Lead for International Core Banking Systems at RBI
Banking solutions for all segments
Empowering banks across segments with scalable, innovative, and efficient solutions.
STC Bank
Pioneering Composable Digital Banking in Saudi Arabia
Riyadh, Saudi Arabia
At a Glance
● Live with Temenos Core since February 2022.
● One of the first banks to run Temenos Core on PostgreSQL.
● Scaled from 3 million to 5 million transactions per day.
STC Bank is a pioneering digital bank in Saudi Arabia. It was born from the transformation of STC Pay, a wallet service launched by Saudi Telecom Company (STC). Today, it stands as one of the region’s most prominent fintech success stories, with a growing portfolio of digital financial services. Backed by STC Group and fully licensed by the Saudi Central Bank, STC Bank operates on a mission to deliver simple, accessible, and secure banking to both individuals and businesses across the Kingdom.
Scaling to meet success
STC Bank’s journey began with a simple wallet offering. Success brought scale, and scale brought complexity. As customer expectations rose, STC Pay needed to evolve into a full-fledged digital bank without losing the ease of use and rapid service that had made it successful. The team faced a critical question: how to maintain seamless, user-centric services while meeting growing regulatory demands and building the infrastructure for future growth?
“The main challenge was continuing to offer simple, user-friendly services—without compromising on compliance,” said Mansour Al-Zharani, Chief Technology Officer, STC Bank.
Their existing in-house system needed to support a high-volume digital banking operation. A new core platform was essential—one that could support composable services, automation, and regulatory compliance at scale.
A deployment first
Following a rigorous evaluation process, STC Bank selected Temenos Core as its new core banking system, implemented with support from Temenos Services and regional partner Seedz (formerly BankerWay). The solution included modules for accounts, lending, deposits, and Temenos Advanced Collection.
It became one of the first companies in the world to deploy Temenos Core on PostgreSQL, an advanced open-source database.
We were impressed by Temenos’ long-term roadmap and clear strategy for composable banking. They showed us a path from monolithic systems to modular services.
– Mansour Al-Zharani, Chief Technology Officer at STC Bank
The decision to go with PostgreSQL, combined with a microservice-driven architecture, reinforced the bank’s commitment to agility and composability. This modern tech stack has allowed STC Bank to introduce new digital services rapidly, and support anticipated increases in transaction volumes, while minimizing customizations and maximizing out-of-the-box capabilities.
Engine of growth
STC Bank went live with Temenos Core on 14 February 2022. The platform has proven its ability to scale. And now handles 5 million daily transactions with ease.
Driving these numbers are operational improvements. New products can now be brought to market faster, supported by automated deployment and CI/CD pipelines. The bank’s use of out-of-the-box capabilities and minimal customization has supported agility and reduced complexity. The launch of microservice-based lending services has laid the groundwork for a modular, data-driven banking model. Above all, the bank has achieved high service reliability, with very few issues arising after go-live.
Every product we’ve launched since go-live has moved from development to testing to production smoothly and on time.
– Mansour Al-Zharani, Chief Technology Officer at STC Bank
Mansour explains that the balance of out-of-the-box capabilities with customizations has been crucial to this. “Builds and releases are now fully automated throughout all the environments, while the ease with which we can add customizations keeps us agile.”
Deep partnership
STC Bank chose Temenos for its vision, track record, and composable architecture. The decision was rooted in a long-term view: avoiding legacy limitations and investing in a platform that evolves with innovation.
Temenos stood out for its experience in the Saudi market, strong regional partnerships, and the ability to support open technologies such as PostgreSQL.
Equally important was the partnership ethos. Temenos’ engagement was deep and broad, with product owners, technical specialists, and support all involved. STC Bank also benefits from Temenos First Level Support, including an onsite engineer for immediate issue resolution, helping preserve development speed and service continuity.
Looking ahead
STC Bank continues to expand its product set using Temenos Core, with new lending and deposit offerings in development. It is also exploring how AI capabilities from Temenos can further improve operational efficiency, development workflows, and delivery timelines.
We’re on a journey to reach more customers by offering more services—and Temenos is helping us get there. This partnership isn’t just for a year or two. It’s about long-term growth.
– Mansour Al-Zharani, Chief Technology Officer at STC Bank
With a modern, scalable core in place, STC Bank is well positioned to lead the future of digital banking in Saudi Arabia—setting the standard for what a composable, cloud-native bank can achieve.
President's Choice Financial
Enhancing operational efficiency and delivering more innovative products on Temenos SaaS
Toronto, Canada
President's Choice Financial
Enhancing operational efficiency and delivering more innovative products on Temenos SaaS
Toronto, Canada
President's Choice Financial
Enhancing operational efficiency and delivering more innovative products on Temenos SaaS
Toronto, Canada
President's Choice Financial
Enhancing operational efficiency and delivering more innovative products on Temenos SaaS
Toronto, Canada
President's Choice Financial
Enhancing operational efficiency and delivering more innovative products on Temenos SaaS
Toronto, Canada
President’s Choice Financial® (PC Financial®), part of Loblaw Companies Limited – Canada’s leading food and pharmacy retailer, aims to make everyday banking more rewarding for its customers. With the introduction of a savings feature to its PC Money™, Account holders already save on banking fees and earn points linked to PC Optimum™, a popular loyalty reward program with more than 16 million active members. PC Financial recently deployed Temenos core banking on SaaS in just 6 months to achieve fast time to market for its first interest-bearing offering.
Our partnership with Temenos aligns perfectly with our ongoing commitment to providing Canadians innovative and simplified financial products with exceptional value. This partnership gives us access to world-class banking capabilities and allows us to streamline efficiencies, while enabling continued focus on delivering best-in-class products that help Canadians Live Life Well.”
Daksa Mody, SVP Central Operations at PC Financial
President's Choice Financial
Enhancing operational efficiency and delivering more innovative products on Temenos SaaS
Toronto, Canada
At a Glance
• Digital account openings have more than doubled, with mobile accounting for two-thirds
• Online contributing 8% of the bank’s account portfolio (increasing from the peer average of 5.75% pre-Temenos)
• 90% of applications have been decided automatically
• Over 60 hours of manual work saved through automations
• Application to decision journey cut from 15 mins to 2 mins
• Time to new account funding cut from 2-3 days to 4.5 mins
Founded in 1934, MidWestOne Bank is headquartered in Iowa City and operates over 50 branches in Iowa, Minnesota, Wisconsin, and Colorado. MidWestOne provides a range of services in the retail, small business, and commercial sectors. These include banking, credit, mortgages, and wealth management. It has 140,000 customers and $6.6bn in assets, making it the third-largest bank in Iowa.
Its aim is to be the preeminent relationship-driven community bank, where its expertise and proactive approach generate meaningful impact for its customers and stakeholders.
Details matter
For Heather DeStefano, the bank’s SVP and Director of Digital Innovation, trust is the vehicle for that growth. “We don’t want to be a transactional institution. We really want to help and guide people. How we get potential customers to understand that is a challenge for us.”
She explains it’s about a carefully balanced approach. “We really want to differentiate ourselves in the fact that we’re small enough to really care, but big enough to deliver all of your needs.”
In practical terms, it’s about “reaching our customers where they want us to, when they want us to,” she says. Technology can deliver convenience, but what’s key is to do that better than the competition.
It’s not just about having a pretty user interface anymore, innovation is really about looking at every aspect of the customer experience, from start to finish, and finding automations that make everything more seamless.”
Heather DeStefano, SVP and Director of Digital Innovation at MidWestOne Bank
This approach was evident when the bank recently launched its digital account opening platform. “We really looked at every detail—the experiences of our customers and our back office employees—to make everybody’s lives easier.”
One aspect of the new platform is to create profiles of valuable customers upfront and enable auto-decisioning for suitable applicants. “We’ve got the process down to just four minutes from application to funding,” says Heather. The technology is also applied to ‘unqualified’ applicants, so they don’t waste time online but can instead go into the branch.
100% Digital
MidWestOne’s new account opening solution has been built with Temenos’ Digital Onboarding product. Heather recalls: “When we started thinking about the customer experience, it became clear that our incumbent vendor was not the right partner for us.” Despite the ‘digital’ name tag, their solution required all applications to be individually reviewed, which meant lots of manual data inputting and checking. Decisions were then messaged to customers manually by a bank employee.
In contrast, Temenos’ proposal demonstrated the automation capabilities that MidWestOne was looking for: the flexibility to deploy an out-of-the-box solution with the controls to customize it; API connectivity with the bank’s existing core system; ease of use; and a team of people it trusted to deliver.
Usability was particularly important, explains Heather, because MidWestOne did not have an in-house development team to call on.
We had to have a system that our back office and operations teams could use. It’s been extremely easy for them to manage the applications and decisioning processes.”
Heather DeStefano, SVP and Director of Digital Innovation at MidWestOne Bank
No problem too small
The bank’s choice of Temenos has also been vindicated by the commitment of its support team. “I have direct lines of communication with their key people, who have encouraged me to reach out with questions. Or I can create a service ticket, and usually get a response back from them within an hour or two, even on low-priority tickets. They are very responsive.”
Fast improvement
The bank went live with Temenos Digital Onboarding as SaaS (running on AWS) in November 2023, with the support of RCG Global Services for the implementation. The returns have come quickly. Online account openings have almost tripled compared to pre-Temenos rates (without any marketing spend), and online account opening rates have surpassed their peer median groups. Two-thirds of these are performed on a mobile device, and over 90% of applications have been decided automatically. Heather estimates that automating Qualifile denials alone has saved the bank over 60 manhours since launch.
Speed is another benefit. On average, it takes applicants under two minutes to complete an application and receive a decision. Previously, applications would take closer to 20 minutes, with decisions coming one to two business days later. For approved customers, funding is now completed in just four and a half minutes, whereas in the past customers would have had to wait two to three days to complete the micro deposit verification process.
MidWestOne has also taken advantage of the platform’s vendor ecosystem by connecting to a third-party ID verification solution and integrating it into its onboarding experience.
Increased customer satisfaction has followed, both for those who open accounts online and in-store.
Open up the throttle
The bank is understandably keen to keep up this momentum. It has just started a project – with its implementation partner RCG – to incorporate banker referrals into the platform, which will help drive more customers online. And it plans to expand the range of products it offers, including high yield savings accounts and private wealth products.
Heather says they plan to add more products from different business lines as they mature with the platform.
Year one has proved what Temenos can help us deliver. We like it, our employees like it, and most importantly of all, our customers like it.”
Heather DeStefano, SVP and Director of Digital Innovation at MidWestOne Bank
We partnered successfully with
Amazon Web Services
Temenos is an AWS Partner. Amazon Web Services (AWS) is the world’s most comprehensive and broadly adopted cloud platform, offering over 200 fully featured services from data centers globally.
RCG Global Services
CG Global Services leverages over 40 years of digital transformation expertise. Their highly skilled team empowers financial institutions by creating custom solutions and integrating fintechs
President's Choice Financial
Enhancing operational efficiency and delivering more innovative products on Temenos SaaS
Toronto, Canada
At a Glance
• Needed to upgrade 10yr old Temenos platform to support expansion
• Moving platform from on-premises to AWS cloud
• Agnostic architecture makes migration to new platform easier
• Expected operational efficiencies from automation of new platform
Ualá is an Argentine fintech, with a mission to improve financial inclusion across Latin America. Through a mobile application linked to an international Mastercard card, users can carry out a wide variety of financial transactions in an easy, secure, and transparent way. This includes money transfers, payments, credit and investment options, and access to a loyalty program. It also offers a range of solutions for businesses, such as payment terminals, payment links, and payment integration with online stores.
Ualá has more than seven million users in Argentina, Colombia and Mexico. In 2021 it was valued at $2.45 billion, following the largest investment round ever secured by an Argentine company. It followed this up in 2023 by securing a full banking licence. Consequently, it wants to move away from a partnership model (where it licensed third-party products) to develop and launch its own banking services.
Plan for growth
For Ezequiel Mina, Chief Technology Officer at Ualá’s Mexican business, this progress mirrors the marketing strategy they are now employing. “A large portion of the Mexican population still can’t access a bank account or credit products. Our aim is to introduce these people to modern finance through a debit card or investment product first. They will then be able to build a credit history, and so unlock credit options.”
Innovation at the heart
While innovation is key to this vision, it does not represent a challenge in the way it would for traditional banks.
Ualá was born digitally and in the cloud, because from the start we wanted to do things better, faster, differently. So innovation is in our DNA. We are constantly trying to understand what our clients are looking for and solve it.”
Ezequiel Mina, Chief Technology Officer at Ualá’s Mexican business
Ualá’s track record speaks for itself. It was one of the first financial companies in Latin America to offer fully automated onboarding and a digital debit card, and to understand the benefits of building native mobile applications. “It’s all about simplicity,” says Ezequiel. “How can we make things as easy as possible for people? There are always improvements to be made. That’s why we are always innovating.”
Time to move
In May 2023, Ualá signalled its ambition to grow by acquiring ABC Capital, at the time one of Mexico’s prominent retail banks. The opportunity also presented a challenge, recalls Ezequiel. “ABC had been running a 10-year version of Temenos Core (R13), which wasn’t going to handle the transaction volume that we expect to see in the next five years.”
Hence Ualá is now in the process of upgrading to the R24 version of Temenos core banking, and also extending the platform to its established business in Mexico. It is also moving from on-premises to a cloud deployment, with AWS providing the infrastructure. Go-live is expected in 2025. Key to that decision was the agnostic architecture of the Temenos platform.
It makes it much easier to go from one deployment option to another. We don’t have to rewrite any code or manage complex data transfers.”
Ezequiel Mina, Chief Technology Officer at Ualá’s Mexican business
Unleashing the new
As well as improving transactional volumes, the upgraded platform provides a range of features that are not available from the legacy version. Automation is also a key stepchange that Ezequiel is looking forward to embracing.
We are going to use these capabilities to improve the usability of our app, and also deliver efficiencies in the operational side. It will be much easier for our engineering team to develop and deploy new features and updates. This will make us much more efficient in our use of resources.”
Ezequiel Mina, Chief Technology Officer at Ualá’s Mexican business
A shared future
For all the excitement around the potential of the platform upgrade, Ezequiel equals Temenos’ people just as much. “At Ualá, we say we don’t have vendors, just strategic partners. And with the core platform at the heart of our bank, Temenos is and will be one of our most important partners for the foreseeable future. They are already proving this in their support of the upgrade project.”
With Temenos people and technology and a shared appetite for innovation, we are building a bright future together for Latin Americans.”
Ezequiel Mina, Chief Technology Officer at Ualá’s Mexican business
President's Choice Financial
Enhancing operational efficiency and delivering more innovative products on Temenos SaaS
Toronto, Canada
At a Glance
• Enabled Bank Albilad to get up and running in 6 months
• Launch new products in 3 days
• Reduced COB activities from 4-6 hours to 1 hour
• New subsidiaries can be up and running in a day
• 71% of retail customers now join via digital channels
Established in 2005, Bank Albilad was the first bank in the Kingdom of Saudi Arabia to offer Shari’ah-compliant products. The bank provides services to retail, corporate, and SME clients with a vision to be the preferred choice for innovative Islamic banking solutions. Operating in a rapidly changing sector, Bank Albilad is embracing innovation to shape Saudi Arabia’s future banking landscape. Its strategy is built on a culture of proactively leading, collaborating, and – through its dedicated innovation center – co-creating innovative solutions tailored to meet the needs of customers and stakeholders. This commitment to driving change has propelled its success: It was one of the first banks to establish an open banking platform and has aligned itself with Saudi Arabia’s Vision 2030 to create the best future for the country’s inhabitants.
Built on success
When it opened its doors back in 2005, Bank Albilad wanted to be at the forefront of Saudi Arabia’s digital transformation.
“There was a large proportion of people in the Kingdom with unmet banking needs,” says Ahmed AlZikan, Bank Albilad’s Chief Information Officer. “They were looking for Shari’ah-compliant products but couldn’t easily access a bank branch. We wanted to foster inclusivity and create a range of products that anyone in the country could access, no matter where they were located.”
To this end, the bank began looking for software that would enable it to establish a digital business from the outset. It sought a provider that would help it get up and running as quickly as possible and allow it to take Shari’ah compliant products to market easily.
Temenos emerged as the ideal partner.
We liked that Temenos offered a complete set of front-to-back capabilities that would support our end-to-end operations. Using its software, we would be able to launch new customer-facing products and services rapidly and also quickly adapt existing products to meet evolving customer needs.”
Ahmed AlZikan, Chief IT Governance Officer at Bank Albilad
Speed matters
Within just six months of selecting Temenos, Bank Albilad’s retail business was up and running. “It was incredibly fast,” Ahmed said. “We started with an earlier iteration of Temenos core banking and have since upgraded to a new version. We also added Temenos digital banking , which we believe has given us an edge in Islamic banking.”
Bank Albilad’s corporate arm is also built on Temenos core banking. “All of the product configuration for our business banking happens within the Temenos solution,” Ahmed explains. “Even though access management is carried out in the platform itself – it is easy to establish a hierarchy of accounting authorization.”
Bank Albilad felt the benefits of leveraging Temenos core banking right away. “Everything is low-code,” Ahmed says. “IT can now build a product in three days. It takes far longer for our other teams to develop their products using Java or .NET, for example.”
The bank’s teams can then configure these products directly within the platform, accelerating product innovation. “The beauty of Temenos core banking is that our teams can configure products without actually talking to IT,” Ahmed explains.
This isn’t the only way that Temenos core banking is helping Bank Albilad to work quickly. It has also dramatically reduced close of business (COB) time.
When we started our business, it would take around four to six hours for us to process the various events of the day. With the latest version of Temenos core banking, we can now do this in an hour.”
Ahmed AlZikan, Chief IT Governance Officer at Bank Albilad
A fast track for growth
These productivity benefits have scaled as Bank Albilad has diversified. “Temenos is helping us reduce the cost of IT and expedite our growth at the same time,” Ahmed says. “Today, all of the various subsidiaries within the bank are using Temenos. As we add more companies, we can get them onto the same system and have them up and running the next day. All it takes is a small configuration in accounting.”
These multiple companies leverage two data centers. “Because of our architecture, we have high availability,” Ahmed says. “We can switch from one data center to another in just a click, with zero issues and zero downtime.”
By operating so efficiently, Bank Albilad has grown from a three billion Saudi Arabian Riyal (SAR) business at its inception into the 17 billion SAR organization that it is today. In fact, today it is one of the top five banks in the country in terms of its product offerings across its corporate and retail businesses. Its commitment to digital is paying off, too: in 2023, it achieved a 14% year-on-year increase in mobile app users, with 71% of new retail customers joining digitally*.
We couldn’t have achieved this success and scalability without the stability and flexibility of the Temenos banking platform. It’s certainly a long-term relationship. Over the years, we’ve had so much support and commitment from the Temenos team. They have been so open to our requests; we cannot fault anything about the company.”
Ahmed AlZikan, Chief IT Governance Officer at Bank Albilad
A foundation for the future
Bank Albilad will continue to expand its use of Temenos solutions in the months and years to come. “We are aware that, to remain at the forefront of product innovation, we must continue to invest in our systems and processes,” Ahmed says. “That’s why we have renewed our contract with Temenos for 15 years.”
Overall, Ahmed wouldn’t hesitate to recommend Temenos to other banks like his: “In our opinion, it’s the easiest way to generate, deploy, and maintain products.”
Our investments in Temenos products have allowed us to transition into a modern, digital bank with improved speed, reliability, and flexibility. These performance benefits are key enablers of our success.”
Ahmed AlZikan, Chief IT Governance Officer at Bank Albilad
President's Choice Financial
Enhancing operational efficiency and delivering more innovative products on Temenos SaaS
Toronto, Canada
At a Glance
• Successful front-to-back ‘big bang’ implementation in Cyprus
• New product launch cycles halved to under one week
• 90% STP increased payment volumes to 120,000 per month
• False positives down to 6-8%
• 99.96% platform availability
Eurobank Group is a Greek banking group, based in Athens, Greece, with an international presence in Cyprus, Luxembourg, UK, and Bulgaria. It has 540 branches, around 10,500 employees, and total assets of $79.8bn. It is the 3rd largest bank in Greece and also in Cyprus, measured by assets, deposits, and loans. Its main strategic pillars are wealth asset management, international business banking, corporate investment banking, and bespoke banking for high-net worth individuals. These pillars vary from country to country.
Dual challenges, one solution
Chief among the bank’s challenges are regulation and digital innovation. On the former, an ever-changing, more demanding regulatory climate needs to be monitored and complied with. On the latter, the aim is to improve the customer experience by creating more self-service products and features, at a time when fintechs and neobanks are redefining customer-centric banking.
For Spyros Loizou, Group Head of International IT at Eurobank Cyprus, these are complimentary challenges. “Customers don’t just want convenience. They also need to feel that their funds, their investments, and their money, are safe and secure. So digital modernization is not just about how we create more convenient banking experiences, but also how we maintain responsible standards.”
Underpinning these dual challenges is technology, which the bank sees as both an enabler of innovation and a means to deliver its ESG commitments, explains Spyros. “Whatever we design and implement in the future has to be ESG compliant; but also, within the ESG spirit, meaning you design a process that has to be simple, and not burden the environment. That could mean going paperless with processes or minimizing the footprint of our IT operations. So we really approach ESG from a technology perspective.”
Time to change
Faced with these ambitions, Eurobank in Cyprus decided to evaluate its IT landscape. A closed architecture meant the bank relied heavily on the vendor to manage configurations and integrations, hampering innovation. This was compounded by the news that the vendor had stopped future investments in the product. “We were running legacy applications and systems that didn’t match the aspirations of the business. It wasn’t scalable, agile, flexible, or futureproof.”
That prompted the bank to search for a new core banking solution. From the outset, scale was an important selection criteria.
We wanted a technology partner with global reach, and market maturity, so we could leverage all the knowledge and best practice lessons from implementations that have been completed around the world. This is what led us to Temenos.”
Spyros Loizou, Group Head of International IT at Eurobank Cyprus
End-to-end advantage
Regulatory know-how was considered a key benefit of this scale. So too the breadth of the Temenos platform. “It has allowed us to continually enable new banking capabilities, without the complexities and costs from working with too many vendors.”
Eurobank Cyprus has made the most of this end-to-end platform, implementing core, digital, wealth management, Temenos Payments Hub (TPH), Financial Crime and Mitigation (FCM), trade finance, and analytics. The impact has been impressive, says Spyros. “Take TPH, for example. It has allowed us to simplify a previously complex operation of handling payments from different client types, whilst maintaining the flexibility to satisfy all the different nuances of each business line.”
Spyros also calls out the wealth management solution, from which the bank has launched a new digital offering.
We can now offer a full digital spectrum of order execution, and discretionary asset management advisory services, completely through the platform, with compliance checks built-in. Transactions that were previously being done manually, or semi-manually, are now automated and can be performed by our clients and relationship managers. That has created a strong competitive advantage for the bank.”
Spyros Loizou, Group Head of International IT at Eurobank Cyprus
This new digital wealth management service illustrates the speed with which Eurobank Cyprus can develop and launch new products. It has applied this capability across its portfolio, including investments, deposits, and lending products. “We can really go as fast as we want in a matter of days, we can launch a new product to the market, and be able to share with all our customer bases. That’s more than twice as fast as before.”
Big bang
Eurobank Cyprus has been live with the Temenos platform in its Cyprus business since April 2023; and for a “big bang implementation,” Spyros says it has been a smooth transition. “All the modules were new for all employees, but we’ve found them easy to learn and use. That empowers our people to create new products and proactively find new ways to do things more efficiently.”
The scope of the implementation – covering 85% of the bank’s IT in its Cyprus operation – felt like “waking up the next day with a brand new bank,” says Spyros. It was made more complex by starting three months prior to Covid and the workplace restrictions that ensued, which continued for 80% of the project.
Partnered by Temenos Implementation Services, the project involved not only migrating data from the old systems but also adapting the back-end procedures and operations so that they were aligned. This was a crucial aspect, recalls Spyros.
Today, our competitive advantage really comes from having a digital front end unified with a new state of the art infrastructure and working practices.”
Spyros Loizou, Group Head of International IT at Eurobank Cyprus
The big lesson he takes away from the implementation is the need for discipline, which points to having the right partner. “You need a lot of good governance. With a large-scale migration such as we did, it can be easy for the scope to creep even broader. It’s very important to stick to the plan, and only then allow yourself the appetite to add incrementally.”
First year returns
Just over a year after go-live, Eurobank Cyprus has already seen significant returns on its investment in Temenos. In payments it has been able to introduce STP (straight through processing), and now nine out of ten payments are fully automated, including compliance checks. Today it processes approximately 120,000 monthly payments in and out, across its product range, with the majority in their corporate, commercial, and international sectors. There has been good news too on false positives, which has come down to 6-8% as a result of the FCM module.
Spyros adds that it is also now much easier for the bank to implement new payment methods (e.g. SEPA and SWIFT) and configure these differently for its separate business lines and customer profiles, such as adjusting pricing rules and fee structures. “In combination with FCM, we can pretty much do whatever we want in order to balance operational efficiency, while ensuring compliance.”
Wealth management is another area where the bank has seen efficiencies. Prior to Temenos, every aspect – from order capture through to execution and settlement – was manual or semi-manual. STP has also been applied here, “which allows us to focus more on what really matters for the customer, such as providing good advice and investing in the manager relationship.”
Digital banking is a third area of improvement that Spyros calls out.
We have introduced new functionality in card management for individual and business customers, such as self-servicing. So now, our customers can activate a new card, block or unblock, and access various certificates of balance and interest, all online. Previously, all those tasks were manual.”
Spyros Loizou, Group Head of International IT at Eurobank Cyprus
Eurobank Cyprus has also taken advantage of the trade finance module from Temenos. “It marries really well with our corporate business because a lot of our clients that are trading across the globe need to guarantee their shipments with letters of credit.” Again, automation has been a big benefit and applied to tasks such as calculating commissions, and managing messages across the SWIFT network. “It is another example of how we have taken fully manual processes and achieved significant efficiencies with automation.”
An ambitious future
Going forward, the bank’s priority is to grow its retail business. “With the Temenos platform, we have the capabilities we need to achieve this.” As well as scalability, composability of services, and automation, it includes availability. Since going live, the bank has seen 99.96% availability from the platform, which is even more impressive when you consider the ‘big bang’ approach it took. This robustness is complemented by a support team from Temenos that “are knowledgeable, proactive, and solve issues fast”, says Spyros.
And compliance automations make the bank better placed to manage the rollout of a new raft of upcoming international regulations and standards, such as the introduction of the Swift MX ISO format in 2025.
With the successful implementation in its Cyprus business serving as a blueprint, Eurobank Cyprus has since enabled Temenos Wealth in Greece, and is now implementing it in Luxembourg.
Having Temenos as one of our most important strategic partners means we can plan ambitiously for the future. We will keep investing in the platform, because we know that it is the way to unlock more efficiencies and be even more competitive in all our markets.”
Spyros Loizou, Group Head of International IT at Eurobank Cyprus
President's Choice Financial
Enhancing operational efficiency and delivering more innovative products on Temenos SaaS
Toronto, Canada
At a Glance
• Cut product time to market by 50%
• Reduced operational costs by 25%
• 20% faster customer onboarding experience
• 20 years+ Temenos customer
Nova Ljubljanska Banka (NLB) is a conglomerate of banks servicing South-Eastern Europe, with operations in Slovenia, Serbia, Bosnia, Croatia, North Macedonia, Kosovo and Montenegro. It offers universal banking services to the retail and corporate sectors, as well as running an investment banking arm. In six of its markets, NLB accounts for at least 10% of the market share, measured by balance sheet total. That figure currently stands at just over 16bn Euros, with reported profits of 514m Euros. It has 2.7 million customers, including 700,000 retail clients in Slovenia and a further 50,000 SME and large business clients. It manages 68 branches across the region.
Its objective is to be the leading bank in South-Eastern Europe by the end of 2030. To that end it is developing a digital-first operating model, supported by a scalable IT suite.
Two sides to scaling
For Franci Drnovšek, NLB’s IT Delivery Deputy General Manager, this goal consists of a dual strategy; on the one hand to innovate, while maintaining the highest security standards. “With open banking and the arrival of fintechs, customer expectations have never been higher. Today, everyone expects pre-approved investments, transactions to take seconds, and loan applications to take just minutes. So we must adapt to this new reality, by leveraging AI and cloud to innovate faster, but also be very strict about security.”
Always adapting
This journey was made easier thanks to the agility of Temenos core banking, that was first deployed in 2002 for its corporate customers. NLB keeps upgrading to the latest version.
The platform has proved to be very adaptable from the start. Recent examples of this were the incorporation of the new PDS2 regulations that came into force in 2019, and integrating N Banka (previously Sberbank), a newly acquired bank, in 2023. For the latter, go-live was executed over a weekend, following a year of planning and testing. “There was no interruption for our customers, the migration was successful and went smoothly. We were very proud of that.”
Following the success of N Banka retail customers migration to Temenos core, NLB who initially had deployed the core for its corporate clients only, will start migrating its retail customers too.
It’s the obvious move to make. For more than 20 years, Temenos proved very robust, reliable and scalable. That’s a journey we want to carry on with.”
Franci Drnovšek, IT Delivery Deputy General Manager at NLB
Customer-centricity in everything
Key to this is ‘Arrangement Architecture’ (AA), a powerful module within the core banking platform that allows banks to design and manage financial products in a more flexible and efficient way. “It means we can be much more customer-centric in everything from our product development to how customers engage with us.” He points to the multi-currency accounts feature and a 20% faster onboarding experience as examples of the step-change that the platform upgrade has delivered.
The bank is also seeing operational benefits.
Since we have implemented the latest version of Temenos core, we have cut our product time to market by 50%, and reduced costs by 25%.”
Franci Drnovšek, IT Delivery Deputy General Manager at NLB
Pushing on
The bank aims to migrate all its retail customers to the new platform version within 18 months, as well as leverage new capabilities such as Temenos Trade Finance to modernize and automate.
Temenos remains a key strategic partner. It has enabled us to build one of the leading banks in the region, and this history gives us confidence that we can keep innovating, adapting and growing.”
Franci Drnovšek, IT Delivery Deputy General Manager at NLB