FundBank

FundBank is an institutional bank focused on serving the asset management industry, including hedge funds, private equity, venture capital, and family offices. The bank prioritizes safety, liquidity, and speed, holding client funds in trust without engaging in lending or leveraging activities. FundBank offers a global footprint across the U.S., Europe, and the Cayman Islands, providing multi-currency banking, custody, payments, and trading services. Its digital-first platform enables fast onboarding, and a seamless user experience tailored to sophisticated asset managers. As the bank continues to scale, FundBank expects its digital operating model to drive measurable performance improvements across efficiency, growth, and customer experience.

A new kind of bank for the global asset management industry

When FundBank continued its recent global expansion into the US and Luxembourg, to further serve the asset management industry, it had a rare advantage: no legacy systems and no outdated technology. The goal was simple but powerful: create a fully digital, cross-border bank that could serve clients with speed, security, and simplicity. With the full Temenos SaaS offering FundBank turned that vision into reality driving its expansion in the United States. This foundation positions the bank to serve significantly more clients without increasing operational complexity.

FundBank isn’t a traditional bank. It is a global bank focused on serving the asset management sector, including fund managers, administrators, brokers, and family offices who need seamless service across jurisdictions. These clients value efficiency and expect their banking to move as fast as their investments. Using Temenos, FundBank is expected to serve significantly more customers per employee as automation and straight-through processing increase across operations.

“FundBank was built for a niche market that demands more than just banking,” said Diarmuid O’Donovan, Global Chief Information Officer. “They want a digital experience that feels effortless, wherever they do business.”

A clean slate and a clear vision

Having operated in the Cayman Islands for many years, FundBank launched operations in the U.S in 2024 and began with a clean slate. There were no legacy systems to migrate or old data to reconcile, just the opportunity to design a modern, cloud-native bank from the ground up. The first major milestone came when the bank secured its U.S. banking license from the Office of the Comptroller of the Currency (OCC). With regulatory approval in place, FundBank expanded to Luxembourg.

This scalability is expected to support rising transaction volumes and cross-sell activity as the bank expands into new markets.

Powered by the end-to end Temenos SaaS stack

To power its growth, FundBank adopted end-to-end banking on Temenos SaaS, deployed on Microsoft Azure. Temenos Core Banking is the foundation of the platform while Temenos Digital delivers an intuitive, frictionless online experience for corporate clients. Temenos Payments enables full centralization and real-time control over the processing of any type of payment from any channel or source, with cross-border and multi-currency payments flowing smoothly across multiple clearing systems, including ISO 20022. Financial Crime Mitigation ensures robust compliance, while Temenos Data Hub provides the insights and real-time analytics needed to drive smarter decisions. As adoption increases, FundBank expects cross-sell performance to rise exponentially, supported by deeper insights and more personalized client engagement.

100% digital from day one

From day one, FundBank set out to be fully digital. Every process, from onboarding to account management, happens online. Clients can open and manage accounts quickly and securely. While the U.S. and Luxembourg operations are entirely digital, the third phase in Cayman Islands will integrate shortly. Behind the scenes, Temenos’ open integration framework connects FundBank to critical third-party systems like Bloomberg and HID, giving the bank the flexibility to customize and extend services without building them from scratch. This digital-first approach is expected to revolutionize onboarding while improving overall customer satisfaction significantly.

One platform, multiple markets

All FundBank entities—U.S., Luxembourg, and the Cayman Islands—are running, or will soon run, on a single Temenos SaaS instance. This unified model simplifies operations, reduces costs, and ensures consistent client experience across markets. The rollout is happening in phases: the U.S. and Luxembourg are already live, and the Cayman Islands will follow in short order. The shared platform model is expected to further improve performance as volumes grow across regions.

“We’re not maintaining systems; we’re enhancing experiences,” Diarmuid said. “That’s the value of going all in on SaaS.”

Collaboration and partnership

FundBank worked closely with Temenos, leveraging their architecture alignment, support, and strategic guidance to ensure every component of the deployment worked seamlessly together. With proven success in countries like Luxembourg, Temenos offered both the technology and the track record FundBank needed, giving the bank confidence as it expanded its global footprint.

A future-ready platform

FundBank’s success consuming the end-to-end Temenos offering on SaaS has already drawn attention from across the industry. With its core and digital platforms live, the bank is now exploring the next wave of innovation, including AI-driven insights, deeper analytics, and new digital products designed to give clients smarter, faster, and simpler ways to manage their funds. This also includes adopting blockchain technology to enable secure, compliant crypto services for its institutional clients. Together, these initiatives are expected to drive continued gains in efficiency, performance, and client satisfaction as FundBank scales globally.

FundBank Building a Global Digital Bank At a Glance • Running the full Temenos SaaS stack, including Core, Digital, Payments Hub, Data Hub, and Financial Crime Mitigation • Cloud Based: Public cloud hyperscale infrastructure providing extensive resilience and security from Azure • Multi-jurisdictional: Temenos multi-bank model supports operations in the U.S., Luxembourg, and the Cayman Islands. • Fully digital client onboarding that is fast, secure, and completely paperless FundBank is an institutional bank focused on serving the asset management industry, including hedge funds, private equity, venture capital, and family offices. The bank prioritizes safety, liquidity, and speed, holding client funds in trust without engaging in lending or leveraging activities. FundBank offers a global footprint across the U.S., Europe, and the Cayman Islands, providing multi-currency banking, custody, payments, and trading services. Its digital-first platform enables fast onboarding, and a seamless user experience tailored to sophisticated asset managers. As the bank continues to scale, FundBank expects its digital operating model to drive measurable performance improvements across efficiency, growth, and customer experience. A new kind of bank for the global asset management industry https://vimeo.com/1094014151/8b8361059c PLACEHOLDER https://vimeo.com/1124259931/df78107869 bank Pioneering Composable Digital Banking in Saudi Arabia Riyadh, Saudi Arabia Watch video Fundbank logo A clean slate and a clear vision 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 To succeed, we needed a platform that could scale globally without adding complexity, which is why we selected the Temenos banking platform.” Diarmuid O’Donovan, Global Chief Information Officer at FundBank 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 Powered by the end-to end Temenos SaaS stack 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   With Temenos, we can offer our clients an enhanced digital experience and scale efficiently. This is key to our future growth.” Diarmuid O’Donovan, Global Chief Information Officer at FundBank The outcome of that exercise was the selection of Facilities Lending and Club Loan modules of Arrangement Architecture (AA), that are offered within Temenos Core. Temenos went on to lead the business requirements design phase, with Systems Arabia (formerly NDC) providing implementation support and integration expertise. Go-live was achieved in November 2024, with immediate results This scalability is expected to support rising transaction volumes and cross-sell activity as the bank expands into new markets. ITSS provides high-quality services for banks with Temenos Transact in parts of Africa, Middle East, Asia and Latin America. Learn more about ITSS To power its growth, FundBank adopted end-to-end banking on Temenos SaaS, deployed on Microsoft Azure. Temenos Core Banking is the foundation of the platform while Temenos Digital delivers an intuitive, frictionless online experience for corporate clients. Temenos Payments enables full centralization and real-time control over the processing of any type of payment from any channel or source, with cross-border and multi-currency payments flowing smoothly across multiple clearing systems, including ISO 20022. Financial Crime Mitigation ensures robust compliance, while Temenos Data Hub provides the insights and real-time analytics needed to drive smarter decisions. As adoption increases, FundBank expects cross-sell performance to rise exponentially, supported by deeper insights and more personalized client engagement. ITSS provides high-quality services for banks with Temenos Transact in parts of Africa, Middle East, Asia and Latin America. Learn more about ITSS 100% digital from day one ITSS provides high-quality services for banks with Temenos Transact in parts of Africa, Middle East, Asia and Latin America. Learn more about ITSS Woman on phone leaning against wall Banking solutions for all segments Empowering banks across segments with scalable, innovative, and efficient solutions. Explore our solutions Explore our solutions 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.” ITSS provides high-quality services for banks with Temenos Transact in parts of Africa, Middle East, Asia and Latin America. Learn more about ITSS Woman on phone leaning against wall Banking solutions for all segments Empowering banks across segments with scalable, innovative, and efficient solutions. Explore our solutions Woman on phone leaning against wall Banking solutions for all segments Empowering banks across segments with scalable, innovative, and efficient solutions. Explore our segments 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. Explore our segments Woman writing on clipboard at desk Customer Success Stories Real stories of transformation with Temenos solutions. Read more success stories Woman on phone leaning against wall Woman writing on clipboard at desk Customer Success Stories Real stories of transformation with Temenos solutions. Read more success stories Banking solutions for all segments Empowering banks across segments with scalable, innovative, and efficient solutions. Explore our segments Woman writing on clipboard at desk Customer Success Stories Real stories of transformation with Temenos solutions. Read more success stories From day one, FundBank set out to be fully digital. Every process, from onboarding to account management, happens online. Clients can open and manage accounts quickly and securely. While the U.S. and Luxembourg operations are entirely digital, the third phase in Cayman Islands will integrate shortly. Behind the scenes, Temenos’ open integration framework connects FundBank to critical third-party systems like Bloomberg and HID, giving the bank the flexibility to customize and extend services without building them from scratch. This digital-first approach is expected to revolutionize onboarding while improving overall customer satisfaction significantly. One platform, multiple markets ITSS provides high-quality services for banks with Temenos Transact in parts of Africa, Middle East, Asia and Latin America. Learn more about ITSS Woman on phone leaning against wall Banking solutions for all segments Empowering banks across segments with scalable, innovative, and efficient solutions. Explore our segments Woman writing on clipboard at desk Customer Success Stories Real stories of transformation with Temenos solutions. Read more success stories ITSS provides high-quality services for banks with Temenos Transact in parts of Africa, Middle East, Asia and Latin America. Learn more about ITSS Woman on phone leaning against wall Banking solutions for all segments Empowering banks across segments with scalable, innovative, and efficient solutions. Explore our segments Woman writing on clipboard at desk Customer Success Stories Real stories of transformation with Temenos solutions. Read more success stories Woman on phone leaning against wall Explore our segments Woman writing on clipboard at desk Customer Success Stories Real stories of transformation with Temenos solutions. Read more success stories Banking solutions for all segments Empowering banks across segments with scalable, innovative, and efficient solutions. Explore our segments Woman writing on clipboard at desk Customer Success Stories Real stories of transformation with Temenos solutions. Read more success stories Having operated in the Cayman Islands for many years, FundBank launched operations in the U.S in 2024 and began with a clean slate. There were no legacy systems to migrate or old data to reconcile, just the opportunity to design a modern, cloud-native bank from the ground up. The first major milestone came when the bank secured its U.S. banking license from the Office of the Comptroller of the Currency (OCC). With regulatory approval in place, FundBank expanded to Luxembourg. 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. Banking solutions for all segments Empowering banks across segments with scalable, innovative, and efficient solutions. b Customer Success Stories Real stories of transformation with Temenos solutions. Read more success stories All FundBank entities—U.S., Luxembourg, and the Cayman Islands—are running, or will soon run, on a single Temenos SaaS instance. This unified model simplifies operations, reduces costs, and ensures consistent client experience across markets. The rollout is happening in phases: the U.S. and Luxembourg are already live, and the Cayman Islands will follow in short order. The shared platform model is expected to further improve performance as volumes grow across regions. “We’re not maintaining systems; we’re enhancing experiences,” Diarmuid said. “That’s the value of going all in on SaaS.” Collaboration and partnership FundBank worked closely with Temenos, leveraging their architecture alignment, support, and strategic guidance to ensure every component of the deployment worked seamlessly together. With proven success in countries like Luxembourg, Temenos offered both the technology and the track record FundBank needed, giving the bank confidence as it expanded its global footprint. A future-ready platform FundBank’s success consuming the end-to-end Temenos offering on SaaS has already drawn attention from across the industry. With its core and digital platforms live, the bank is now exploring the next wave of innovation, including AI-driven insights, deeper analytics, and new digital products designed to give clients smarter, faster, and simpler ways to manage their funds. This also includes adopting blockchain technology to enable secure, compliant crypto services for its institutional clients. Together, these initiatives are expected to drive continued gains in efficiency, performance, and client satisfaction as FundBank scales globally. ITSS provides high-quality services for banks with Temenos Transact in parts of Africa, Middle East, Asia and Latin America. Learn more about ITSS Woman on phone leaning against wall Banking solutions for all segments Empowering banks across segments with scalable, innovative, and efficient solutions. Explore our segments Woman writing on clipboard at desk Customer Success Stories Real stories of transformation with Temenos solutions. Read more success stories Woman on phone leaning against wall Banking solutions for all segments Empowering banks across segments with scalable, innovative, and efficient solutions. Explore our segments Woman writing on clipboard at desk Customer Success Stories Real stories of transformation with Temenos solutions. Read more success stories Banking solutions for all segments Empowering banks across segments with scalable, innovative, and efficient solutions. Explore our segments Woman writing on clipboard at desk Customer Success Stories Real stories of transformation with Temenos solutions. Read more success stories Woman on phone leaning against wall Banking solutions for all segments Empowering banks across segments with scalable, innovative, and efficient solutions. Explore our segments Woman writing on clipboard at desk Customer Success Stories Real stories of transformation with Temenos solutions. Read more success stories Woman on phone leaning against wall Banking solutions for all segments Empowering banks across segments with scalable, innovative, and efficient solutions. Explore our segments Woman writing on clipboard at desk Customer Success Stories Real stories of transformation with Temenos solutions. Read more success stories Woman on phone leaning against wall Banking solutions for all segments Empowering banks across segments with scalable, innovative, and efficient solutions. Explore our segments Woman writing on clipboard at desk Customer Success Stories Real stories of transformation with Temenos solutions. Read more success stories Woman on phone leaning against wall Banking solutions for all segments Empowering banks across segments with scalable, innovative, and efficient solutions. Explore our segments Woman writing on clipboard at desk Customer Success Stories Real stories of transformation with Temenos solutions. Read more success stories Woman on phone leaning against wall Banking solutions for all segments Empowering banks across segments with scalable, innovative, and efficient solutions. Explore our segments Woman writing on clipboard at desk Customer Success Stories Real stories of transformation with Temenos solutions. Read more success stories When FundBank continued its recent global expansion into the US and Luxembourg, to further serve the asset management industry, it had a rare advantage: no legacy systems and no outdated technology. The goal was simple but powerful: create a fully digital, cross-border bank that could serve clients with speed, security, and simplicity. With the full Temenos SaaS offering FundBank turned that vision into reality driving its expansion in the United States. This foundation positions the bank to serve significantly more clients without increasing operational complexity. FundBank isn’t a traditional bank. It is a global bank focused on serving the asset management sector, including fund managers, administrators, brokers, and family offices who need seamless service across jurisdictions. These clients value efficiency and expect their banking to move as fast as their investments. Using Temenos, FundBank is expected to serve significantly more customers per employee as automation and straight-through processing increase across operations. “FundBank was built for a niche market that demands more than just banking,” said Diarmuid O’Donovan, Global Chief Information Officer. “They want a digital experience that feels effortless, wherever they do business.” The technology provided by Temenos empowers our clients to move faster, bank smarter, and focus on what matters most, their investments.” Diarmuid O’Donovan, Global Chief Information Officer at FundBank We partnered successfully with: We partnered successfully with: We partnered successfully with: Microsoft’s Financial Services group helps financial firms leverage technology to amplify the impact their people can deliver to drive business success. Woman on phone leaning against wall Banking solutions for all segments Empowering banks across segments with scalable, innovative, and efficient solutions. Explore our segments Woman writing on clipboard at desk Customer Success Stories Real stories of transformation with Temenos solutions. Read more success stories Microsoft’s Financial Services group helps financial firms leverage technology to amplify the impact their people can deliver to drive business success. Woman on phone leaning against wall Banking solutions for all segments Empowering banks across segments with scalable, innovative, and efficient solutions. Explore our segments Woman writing on clipboard at desk Customer Success Stories Real stories of transformation with Temenos solutions. Read more success stories Microsoft’s Financial Services group helps financial firms leverage technology to amplify the impact their people can deliver to drive business success. Woman on phone leaning against wall Banking solutions for all segments Empowering banks across segments with scalable, innovative, and efficient solutions. Explore our segments Woman writing on clipboard at desk Customer Success Stories Real stories of transformation with Temenos solutions. Read more success stories