Islamic Banking Solution
Deliver an outstanding Shari’ah compliant experience to your customers using a combination of digital and human interaction, leveraging advanced graphical product building capabilities and modern technology to create offerings that are compliant and personalized while reducing your operational costs and risks.
Temenos Islamic Banking is fully compliant to Shari’ah requirements, processes and accounting entries. It is parameter-driven, enabling banks to adapt it to their own specific compliance requirements.
Temenos Islamic Banking covers all areas of banking, from retail to corporate, private wealth and inclusive banking with rich functionality across all verticals.
With its flexible product builder, Temenos Islamic Banking allows financial institutions to create a wide range of products while facilitating innovation and a fast time to market.
Built on the best digital platform as selected by Ovum, enabling banks to face digital challenges and competition.
Temenos Islamic Banking serves small financial intuitions and the largest banks in the industry using the same software. It benefits from significant investment in banking technology, ensuring it is up to date and future proof.
6 month implementations
2x the bank capital
80+ Islamic Banking installations
#2 Islamic Banking IBS Intelligence Sales League Table 2019
Read Success Story
“We are delighted to appoint Temenos as our strategic technology partner for our digital transformation. Temenos digital banking platform will enable us to transform faster, drive out complexity and lower our overall total cost of ownership. Temenos has a worldwide reputation for robust, innovative banking software and an extensive presence and commitment in Saudi Arabia. With Temenos we will be able to introduce new and innovative products more quickly and help reduce operational costs, as well as offer a cutting-edge digital experience to our customers.”Mr. Waleed Al Mogbel, DCEO – Al Rajhi Bank
Customer Success Stories
In early 2018, Al Rajhi Bank began investigating breakthrough technologies like Blockchain, and was poised to introduce fingerprint identification and electronic signatures.
With Temenos underpinning its operations, Alawwal Bank has almost doubled in size with new branches and customers, ensuring it maintains its position as a key player in the Saudi market.
With Temenos software, Alejma’a Alarabi Bank will be able to bring new retail and corporate offerings to market faster than ever, and provide a digital service that sets it apart from the competition.
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“Temenos Transact has had a positive impact on our business. It has enabled the bank to automate and streamline processes and improved the bank’s overall operations’ flow. We are delighted with the latest release of Temenos Transact, which will continue advancing the bank’s productivity with its functional and technological enhancements. With the new Temenos Transact release, our plan is to further enhance the bank’s investment management and profit management capabilities for Mudaraba and Wakala accounts. In addition, we plan to expand our Islamic derivatives products, and progress our Islamic mortgage financing.”Mr. Saif Al Dhaheri, COO – Al Hilal Bank
You’re in Good Company
Islamic banking is growing faster than its conventional counterparts. To maintain this growth, Islamic banks must reinvent their business models by focusing on enhanced efficiency, ongoing compliance, and differentiated customer service and solutions. This is essential to acquire and retain their customer base whilst scaling up operations to meet global competition.
Ahmed Anwar, Strategic Projects Advisor, Al Rajhi Bank talking about how Temenos offers the most comprehensive set of Islamic finance capabilities.
We now live in a digital world. According to a report by emarketer, smartphone penetration is 83% and 73% of the UAE and Saudi populations respectively.
Assaray Trade and Investment Bank (ATIB) selects cloud-native, cloud-agnostic Temenos Infinity and Temenos Transact to replace legacy IT and launch new digital products.
We have seen a huge transformation in banking customer experience as banks attempt to differentiate themselves from their banking competitors.