A growth engine for Vietnam

Vietnam Prosperity Joint Stock Commercial Bank (VPBank) is one of Vietnam’s largest private banks, serving over 30 million customers across retail and corporate banking. The bank is a leader in digital innovation, having launched multiple digital brands including NEO, NEOBiz, UBank, Cake. To serve millions more customers with speed and reliability, VPBank recognized that its core banking platform had to evolve – to be faster, smarter, and more scalable.

Expanding from the core

VPBank had been using Temenos Core Banking since 2006. As it has grown, it has retained this core, while upgrading to new releases.

“We always need to improve our speed to market and agility,” said Augustine Wong Kok Seng, former CIO at VPBank. “Digital banks move fast, and if we want to stay competitive, we need to keep our core platform at the cutting edge.”

More importantly, many of the alternative platforms required specialized business analyst skills that were hard to source in emerging markets like Vietnam.

A strategic upgrade with the right partners

VPBank committed to upgrading its Temenos core banking, while shifting to a hybrid architecture using Red Hat OpenShift. The bank partnered with Systems Limited, with proven expertise in deploying Red Hat OpenShift for core banking on-premise. Red Hat was instrumental in helping containerise VPBank’s core banking system. While the core continues to run on-premise in a private cloud, AWS supported the broader hybrid architecture and testing environments, providing flexibility as the bank plans for future innovations.

This wasn’t a routine upgrade. It was one of the largest and most complex core banking transformations in the country. It involved migrating more than 18 million accounts and 77 terabytes of data, all within a 24-hour go-live window.

Key to success was VPBank’s decision to run the upgrade using disaster recovery (DR) mode to avoid impacting customer service. For most of the weekend, customers continued transacting as usual, with only a brief three-hour switchover window when systems were unavailable.

“With this modernisation, VPBank gains the ability to orchestrate workloads at scale, streamline deployments, and maintain high availability. These are critical capabilities for supporting millions of customers while driving continuous innovation,” said Dao Hoang Giang (Jane), Country Manager, Red Hat Vietnam, Cambodia, Laos & Myanmar.

Results that scale with ambition

The transformation delivered immediate and measurable gains. Business processing speeds improved by 30%, and payment transaction volumes rose by 40%. The upgraded system can now handle double the daily volume without issue, enabling faster, more stable product launches. Most importantly, the go-live was completed without a single incident, ensuring uninterrupted service and reinforcing trust across the customer base.

Built on trust, delivered through partnership

Temenos was the natural choice for VPBank’s continued core transformation. With over 30 Temenos clients in Vietnam, the bank saw deep local knowledge and the business functionality no other vendor could match.

Augustine emphasized that VPBank’s strategy remains dynamic. “We’re constantly evaluating new technologies,” he said. “This decision made the most sense at the current juncture, but the pace of change is fast. We’re always scanning the horizon, but if Temenos continues to innovate and decouple modules, they’ll stay in the lead.”

Systems Limited impressed the bank with its resolve. “They didn’t talk about cost,” Augustine said. “They talked about solving the problem. That made all the difference.”

“This success with VPBank demonstrates the depth of our expertise in executing major core banking upgrades on a global scale,” said Ammara Masood, GM Global Industries, Banking & Financial Services, Systems Limited. “By combining innovative methodologies with Temenos’ next-generation platform and Red Hat OpenShift, we’ve enabled VPBank to achieve remarkable improvements in scalability, efficiency, and performance.”

Modernisation that drives inclusion

The technology upgrade is about more than just scale. It’s also enabling inclusion.

Vietnam has a population of over 100 million, but only around 30 million are currently banked. VPBank is on a mission to change that. “Our full name – Vietnam Prosperity Bank – says it all,” Augustine said. “We’re here to build an inclusive financial society. That requires trust, and trust is built on stable, scalable systems.”

AI, automation, and agility

With the new core in place, VPBank is now focused on building out its AI strategy. From conversational AI tools to internal automation, the bank is developing an “AI factory” model that enables teams to build, test, and launch intelligent tools faster.

The foundation is the data; and the integrity of that data comes from a trusted, resilient core.

“AI is just an enabler,” Augustine said. “Data is the crown jewel. And with Temenos, we know our data is secure, stable, and ready to power the next wave of innovation.”

With the upgrade complete and the bank now future-ready, VPBank is focused on reaching the next horizon of growth. As digital adoption accelerates and AI reshapes the financial landscape, agility will be the key to the future, explains Augustine. “Now we have the capabilities to adapt. That’s partly about the technology we’ve deployed, but equally about having a partner in Temenos that is shaping the future, putting us in the driving seat.”

VPBank Scaling smarter and powering inclusion Hanoi, Vietnam At a Glance • One of the largest core banking upgrades executed in Vietnam • 18M+ accounts migrated in a single weekend • 30% faster business processing • 40% increase in payment transaction volumes • Core banking system now handles double the volume with zero incidents • Near-zero customer disruption during go-live A growth engine for Vietnam https://vimeo.com/1094014151/8b8361059c PLACEHOLDER https://vimeo.com/1124259931/df78107869 bank Pioneering Composable Digital Banking in Saudi Arabia Riyadh, Saudi Arabia Watch video VPBank logo Expanding from the core 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 We were told we’d need people who could construct smart contracts. Temenos offered a more intuitive, business-friendly platform that our teams could adapt to quickly. That made the decision clear.” Augustine Wong Kok Seng, former CIO at VPBank 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 VPBank committed to upgrading its Temenos core banking, while shifting to a hybrid architecture using Red Hat OpenShift. The bank partnered with Systems Limited, with proven expertise in deploying Red Hat OpenShift for core banking on-premise. Red Hat was instrumental in helping containerise VPBank’s core banking system. While the core continues to run on-premise in a private cloud, AWS supported the broader hybrid architecture and testing environments, providing flexibility as the bank plans for future innovations. This wasn’t a routine upgrade. It was one of the largest and most complex core banking transformations in the country. It involved migrating more than 18 million accounts and 77 terabytes of data, all within a 24-hour go-live window. Key to success was VPBank’s decision to run the upgrade using disaster recovery (DR) mode to avoid impacting customer service. For most of the weekend, customers continued transacting as usual, with only a brief three-hour switchover window when systems were unavailable. “With this modernisation, VPBank gains the ability to orchestrate workloads at scale, streamline deployments, and maintain high availability. These are critical capabilities for supporting millions of customers while driving continuous innovation,” said Dao Hoang Giang (Jane), Country Manager, Red Hat Vietnam, Cambodia, Laos & Myanmar. 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   The transformation delivered immediate and measurable gains. Business processing speeds improved by 30%, and payment transaction volumes rose by 40%. The upgraded system can now handle double the daily volume without issue, enabling faster, more stable product launches. Most importantly, the go-live was completed without a single incident, ensuring uninterrupted service and reinforcing trust across the customer base. 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 A strategic upgrade with the right partners ITSS provides high-quality services for banks with Temenos Transact in parts of Africa, Middle East, Asia and Latin America. Learn more about ITSS Results that scale with ambition ITSS provides high-quality services for banks with Temenos Transact in parts of Africa, Middle East, Asia and Latin America. Learn more about ITSS Today, we can serve twice the volume with better quality. The customer experience is significantly improved – faster, more responsive, and more reliable.” Do Cam Van, Director of Core Banking Applications Service at VPBank 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 Built on trust, delivered through partnership Temenos was the natural choice for VPBank’s continued core transformation. With over 30 Temenos clients in Vietnam, the bank saw deep local knowledge and the business functionality no other vendor could match. 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 VPBank had been using Temenos Core Banking since 2006. As it has grown, it has retained this core, while upgrading to new releases. “We always need to improve our speed to market and agility,” said Augustine Wong Kok Seng, former CIO at VPBank. “Digital banks move fast, and if we want to stay competitive, we need to keep our core platform at the cutting edge.” More importantly, many of the alternative platforms required specialized business analyst skills that were hard to source in emerging markets like Vietnam. 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 No one else had the business functionality and scale we needed. We explored all options, but Temenos was the only partner who could support our growth at this size. Frankly, no one else had the depth we needed. When things got tough, Temenos’ leadership was directly involved. I could call them up at any time, and they made things happen.” Augustine Wong Kok Seng, former CIO at VPBank Augustine emphasized that VPBank’s strategy remains dynamic. “We’re constantly evaluating new technologies,” he said. “This decision made the most sense at the current juncture, but the pace of change is fast. We’re always scanning the horizon, but if Temenos continues to innovate and decouple modules, they’ll stay in the lead.” Systems Limited impressed the bank with its resolve. “They didn’t talk about cost,” Augustine said. “They talked about solving the problem. That made all the difference.” “This success with VPBank demonstrates the depth of our expertise in executing major core banking upgrades on a global scale,” said Ammara Masood, GM Global Industries, Banking & Financial Services, Systems Limited. “By combining innovative methodologies with Temenos’ next-generation platform and Red Hat OpenShift, we’ve enabled VPBank to achieve remarkable improvements in scalability, efficiency, and performance.” Modernisation that drives inclusion The technology upgrade is about more than just scale. It’s also enabling inclusion. Vietnam has a population of over 100 million, but only around 30 million are currently banked. VPBank is on a mission to change that. “Our full name – Vietnam Prosperity Bank – says it all,” Augustine said. “We’re here to build an inclusive financial society. That requires trust, and trust is built on stable, scalable systems.” AI, automation, and agility 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 Vietnam Prosperity Joint Stock Commercial Bank (VPBank) is one of Vietnam’s largest private banks, serving over 30 million customers across retail and corporate banking. The bank is a leader in digital innovation, having launched multiple digital brands including NEO, NEOBiz, UBank, Cake. To serve millions more customers with speed and reliability, VPBank recognized that its core banking platform had to evolve – to be faster, smarter, and more scalable. With the new core in place, VPBank is now focused on building out its AI strategy. From conversational AI tools to internal automation, the bank is developing an “AI factory” model that enables teams to build, test, and launch intelligent tools faster. The foundation is the data; and the integrity of that data comes from a trusted, resilient core. “AI is just an enabler,” Augustine said. “Data is the crown jewel. And with Temenos, we know our data is secure, stable, and ready to power the next wave of innovation.” With the upgrade complete and the bank now future-ready, VPBank is focused on reaching the next horizon of growth. As digital adoption accelerates and AI reshapes the financial landscape, agility will be the key to the future, explains Augustine. “Now we have the capabilities to adapt. That’s partly about the technology we’ve deployed, but equally about having a partner in Temenos that is shaping the future, putting us in the driving seat.” 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 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

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

EQ Bank launched in 2016 with a groundbreaking vision. As one of the first digital-only banks in Canada, the bank aims to reimagine how customers interact with their financial services provider, offering a smarter and more flexible alternative to the complexity and hassle of traditional banking. In less than a decade it has grown to service half-a-million consumers, and has recently expanded into business banking. 

Daniel Broten, SVP and Head of EQ Bank, explained: “We’re on a mission to change the status quo, with banking services that enrich the lives of our customers. As a digital-only bank, we have a major advantage over traditional banks, as we don’t have to maintain branches and therefore have more resources available to provide customer-centric services at the best possible rates.”

Meeting evolving customer demands

For EQ Bank, responding to rapidly-changing customer expectations is today’s biggest challenge. Consumers increasingly expect their financial services provider to deliver everything from faster payments solutions and more flexible lending services to user-friendly budgeting tools and much more, all available at the touch of a button. Thankfully, innovation and agility is built into the DNA of EQ Bank.

“We are always looking to react quickly to customer feedback and bring to market more innovative services,” said Daniel. “For example, we are creating frictionless digital journeys to allow users to open joint accounts in just a few clicks that would normally involve cumbersome paperwork and often a couple painful, in-person visits to a branch.”

Born to grow

In 2016, EQ Bank used an on-premises deployment of Temenos Core Banking to support its launch. The core platform proved a crucial component in the early success of the bank, providing the tools for real-time transaction processing and digital product development. Customer deposits rose rapidly, reaching more than 100 million Canadian dollars in the first few weeks. To manage the next stage of its growth journey and handle rocketing volumes of customer transactions, EQ Bank evaluated the smartest way to scale its infrastructure.

“We realized that a cloud-first model would unlock benefits in terms of scalability, reliability, and security,” added Daniel. “Plus, we knew the cloud would help with product development and give us more time to think about digital innovation rather than infrastructure management.”

EQ Bank was also keen to extend its strong commitment to environmental, sustainability, and governance (ESG) issues into its IT strategy.

Transitioning to a flexible cloud model

In 2019 EQ Bank decided to deploy an updated version of Temenos Core Banking running on the Temenos SaaS. The move provided the performance, scalability, and agility needed by EQ Bank to manage ongoing customer volumes—and made the bank one of the first in Canada to use a core infrastructure fully-hosted in a public cloud environment.

Daniel explained: “As we had used Temenos Core Banking for several years, transitioning to the SaaS version was the natural choice. Being able to host the systems on Microsoft Azure in our local region was another big advantage.”

Working closely with Temenos, EQ Bank completed the upgrade of Temenos Core Banking and the migration to Temenos SaaS in just 12 months.

“The support from Temenos accelerated the changeover, and because we run the systems with minimal customizations it minimized any complexity. Our learning curve on the Temenos SaaS was quick and easy.”

More recently it has added Temenos Payments Hub (TPH) and Temenos Data Hub (TDH) to its stack.

Creating enhanced digital services

Development speed has been one benefit of its move to cloud. “Ten years ago, we were releasing new features about every two months. Last year, we got that up to 30 every month, and this year, we peaked at 50 per month.”

With that capability, EQ Bank is now rolling out some of the most innovative digital banking services available in Canada. In the near-term, it will publicly launch its first fully digital business account, designed to meet the unique needs of Canadian small business owners, with open banking and real-time payments in scope.

And as part of its inclusion policy, it has created customized onboarding journeys to help indigenous Canadians to access financial services. Similarly, EQ Bank has launched a new low-cost, multi-currency money transfer service through an integration with leading payments provider Wise.

Daniel continued: “Setting up the integration between Temenos Core Banking and Wise was very simple. We quickly and efficiently connected all the debit, credits and payment types needed to allow our customers to make transactions. And we could do this without having to recode any APIs. Using the Temenos SaaS has made it easy for our teams to design, develop and launch new products.”

More recently, it has developed the ‘TDH-EQB Fabric’ environment, an innovative solution enabling near real-time data access within the Temenos Data Hub. The initiative (a collaboration between EQ Bank, Temenos and Microsoft) has already had a profound impact by enabling access to key transactional data within less than 60 seconds; reducing load on the live Temenos Core database by offloading queries for historic and archived transaction data; accelerating operational decision-making by enabling near real-time intraday reporting; and establishing a scalable pipeline to support regulatory reporting.

Daniel commented: “The TDH-EQB Fabric is empowering EQ Bank with faster insights, improved system performance, and a more agile digital ecosystem—all crucial for enhancing the experience we give customers and meeting our regulatory obligations.” 

These new capabilities are now powering the bank’s exploration into AI. For Daniel, AI is a natural extension of what the bank has been focussed on since it launched. “We always strive to create highly personalised experiences for each customer. That’s important at the onboarding stage for a new customer, when you really have to build for trust. The more we can show we know about them as a person, the more intimate and trusting the experience for them. The combination of good data and AI are a massive opportunity to create these moments.”

Reaching even more customers

The switch to the Temenos SaaS enabled EQ Bank to manage the rapid growth in demand for digital banking during the Covid pandemic. There was an immediate post-cloud growth in its customer base of 100% year-on-year, and 400% in transactions.

It has sustained that growth, with customer numbers increasing by 10-15% each year, and transactions by around 40%. That has been enabled with TPH but also TDH, and points to the benefits of having a single platform with broad capabilities. “Fraud management and risk mitigation on those payments is another key area where we want to have really good controls and a good synchronous way of being able to decline or stop payments before we have issues with them.”

Today EQ Bank remains Canada’s only true challenger bank and is the digital platform of Equitable Bank, seventh-largest bank in the country by assets.

The innovative new services launched by EQ Bank have gone down extremely well with consumers. So much so EQ Bank has been named to the prestigious World’s Best Banks list by Forbes Magazine for five consecutive years.

Building a more sustainable business model

Adopting the cloud model has also helped EQ Bank to achieve its sustainability goals. Moving away from an on-premises core banking infrastructure has allowed EQ Bank to reduce power consumption within its data center, cutting carbon emissions and helping to minimize its impact on the environment.

Daniel commented: “We are very proud of how the cloud helps us to reduce our carbon footprint. We can monitor our cloud resource consumption closely, and ensure that we are using server configurations and processes that optimize performance and energy-efficiency.”

Laying foundations for future success

With a state-of-the-art, cloud-based core banking infrastructure, EQ Bank is well-placed to connect with partner ecosystems and to thrive when open banking reaches Canada.

Daniel explained: “Having such extensive API capabilities with Temenos core banking and the Temenos SaaS puts us in a strong position to develop more integrations with fintechs and to share data securely with third-party providers. These will be essential points both to comply with open banking regulations and to seize the commercial opportunities that the new model will create.”

Moving forward, EQ Bank is keen to continue the alliance with Temenos, including serving as a member of the Temenos Ambassador Program. This enables the bank to join seminars on industry trends, provide feedback on capabilities and functionality, and to influence the roadmap for new releases of Temenos solutions.

“Temenos is a fantastic partner to EQ Bank and has been integral to our rise as one of the most successful and innovative operators in the Canadian retail banking space. We are looking forward to the additional benefits we will unleash from Temenos Data Hub and Temenos Payments Hub that we are implementing currently.”

EQ Bank Modernizing the Core with the Cloud Toronto, Canada At a Glance • Immediate post-cloud growth in customer base of 100% year-on-year, and 400% in transactions. • First bank in Canada to go front-to-back in the public cloud. • Updates and new features now released x50 per month vs one every 2 months at launch. • Named ‘Best Bank in Canada’ for two consecutive years. EQ Bank launched in 2016 with a groundbreaking vision. As one of the first digital-only banks in Canada, the bank aims to reimagine how customers interact with their financial services provider, offering a smarter and more flexible alternative to the complexity and hassle of traditional banking. In less than a decade it has grown to service half-a-million consumers, and has recently expanded into business banking.  Daniel Broten, SVP and Head of EQ Bank, explained: “We’re on a mission to change the status quo, with banking services that enrich the lives of our customers. As a digital-only bank, we have a major advantage over traditional banks, as we don’t have to maintain branches and therefore have more resources available to provide customer-centric services at the best possible rates.” https://vimeo.com/1094014151/8b8361059c PLACEHOLDER https://vimeo.com/1107997587/5c2f659218?ts=0&share=copy EQ Bank 2025 Reference Case study – Video Pioneering Composable Digital Banking in Saudi Arabia Riyadh, Saudi Arabia Watch video EQ Bank Meeting evolving customer demands 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 Born to grow 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 Our ESG program is an important part of our business. We aim to do as much as possible to reduce our carbon emissions, and a move to the cloud would help meet our goals.” Daniel Broten, SVP and Head, EQ Bank 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   In 2019 EQ Bank decided to deploy an updated version of Temenos Core Banking running on the Temenos SaaS. The move provided the performance, scalability, and agility needed by EQ Bank to manage ongoing customer volumes—and made the bank one of the first in Canada to use a core infrastructure fully-hosted in a public cloud environment. Daniel explained: “As we had used Temenos Core Banking for several years, transitioning to the SaaS version was the natural choice. Being able to host the systems on Microsoft Azure in our local region was another big advantage.” Working closely with Temenos, EQ Bank completed the upgrade of Temenos Core Banking and the migration to Temenos SaaS in just 12 months. “The support from Temenos accelerated the changeover, and because we run the systems with minimal customizations it minimized any complexity. Our learning curve on the Temenos SaaS was quick and easy.” More recently it has added Temenos Payments Hub (TPH) and Temenos Data Hub (TDH) to its stack. 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 In 2016, EQ Bank used an on-premises deployment of Temenos Core Banking to support its launch. The core platform proved a crucial component in the early success of the bank, providing the tools for real-time transaction processing and digital product development. Customer deposits rose rapidly, reaching more than 100 million Canadian dollars in the first few weeks. To manage the next stage of its growth journey and handle rocketing volumes of customer transactions, EQ Bank evaluated the smartest way to scale its infrastructure. “We realized that a cloud-first model would unlock benefits in terms of scalability, reliability, and security,” added Daniel. “Plus, we knew the cloud would help with product development and give us more time to think about digital innovation rather than infrastructure management.” EQ Bank was also keen to extend its strong commitment to environmental, sustainability, and governance (ESG) issues into its IT strategy. “We delivered everything we set out to achieve. It’s simpler, more flexible, and more accurate; and all this relieves pressure from our teams.” – Mohammad Khatib, Director, Information Technology at The Arab Energy Bank Transitioning to a flexible cloud model 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   Creating enhanced digital services 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 solutions 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 Development speed has been one benefit of its move to cloud. “Ten years ago, we were releasing new features about every two months. Last year, we got that up to 30 every month, and this year, we peaked at 50 per month.” With that capability, EQ Bank is now rolling out some of the most innovative digital banking services available in Canada. In the near-term, it will publicly launch its first fully digital business account, designed to meet the unique needs of Canadian small business owners, with open banking and real-time payments in scope. And as part of its inclusion policy, it has created customized onboarding journeys to help indigenous Canadians to access financial services. Similarly, EQ Bank has launched a new low-cost, multi-currency money transfer service through an integration with leading payments provider Wise. Daniel continued: “Setting up the integration between Temenos Core Banking and Wise was very simple. We quickly and efficiently connected all the debit, credits and payment types needed to allow our customers to make transactions. And we could do this without having to recode any APIs. Using the Temenos SaaS has made it easy for our teams to design, develop and launch new products.” More recently, it has developed the ‘TDH-EQB Fabric’ environment, an innovative solution enabling near real-time data access within the Temenos Data Hub. The initiative (a collaboration between EQ Bank, Temenos and Microsoft) has already had a profound impact by enabling access to key transactional data within less than 60 seconds; reducing load on the live Temenos Core database by offloading queries for historic and archived transaction data; accelerating operational decision-making by enabling near real-time intraday reporting; and establishing a scalable pipeline to support regulatory reporting. Daniel commented: “The TDH-EQB Fabric is empowering EQ Bank with faster insights, improved system performance, and a more agile digital ecosystem—all crucial for enhancing the experience we give customers and meeting our regulatory obligations.”  These new capabilities are now powering the bank’s exploration into AI. For Daniel, AI is a natural extension of what the bank has been focussed on since it launched. “We always strive to create highly personalised experiences for each customer. That’s important at the onboarding stage for a new customer, when you really have to build for trust. The more we can show we know about them as a person, the more intimate and trusting the experience for them. The combination of good data and AI are a massive opportunity to create these moments.” Reaching even more customers 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 For EQ Bank, responding to rapidly-changing customer expectations is today’s biggest challenge. Consumers increasingly expect their financial services provider to deliver everything from faster payments solutions and more flexible lending services to user-friendly budgeting tools and much more, all available at the touch of a button. Thankfully, innovation and agility is built into the DNA of EQ Bank. “We are always looking to react quickly to customer feedback and bring to market more innovative services,” said Daniel. “For example, we are creating frictionless digital journeys to allow users to open joint accounts in just a few clicks that would normally involve cumbersome paperwork and often a couple painful, in-person visits to a branch.” 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 The switch to the Temenos SaaS enabled EQ Bank to manage the rapid growth in demand for digital banking during the Covid pandemic. There was an immediate post-cloud growth in its customer base of 100% year-on-year, and 400% in transactions. It has sustained that growth, with customer numbers increasing by 10-15% each year, and transactions by around 40%. That has been enabled with TPH but also TDH, and points to the benefits of having a single platform with broad capabilities. “Fraud management and risk mitigation on those payments is another key area where we want to have really good controls and a good synchronous way of being able to decline or stop payments before we have issues with them.” Today EQ Bank remains Canada’s only true challenger bank and is the digital platform of Equitable Bank, seventh-largest bank in the country by assets. The flexibility and resilience of the Temenos solution has been vital to our ongoing growth. We simply would not have been able to accommodate such rapid customer growth without the elastic scalability of the cloud.” Daniel Broten, SVP and Head, EQ Bank The innovative new services launched by EQ Bank have gone down extremely well with consumers. So much so EQ Bank has been named to the prestigious World’s Best Banks list by Forbes Magazine for five consecutive years. Building a more sustainable business model Adopting the cloud model has also helped EQ Bank to achieve its sustainability goals. Moving away from an on-premises core banking infrastructure has allowed EQ Bank to reduce power consumption within its data center, cutting carbon emissions and helping to minimize its impact on the environment. Daniel commented: “We are very proud of how the cloud helps us to reduce our carbon footprint. We can monitor our cloud resource consumption closely, and ensure that we are using server configurations and processes that optimize performance and energy-efficiency.” Red Hat and Temenos are working together to simplify a hybrid cloud banking platform that provides modern, security-focused services for bank customers. Tech Mahindra, a global certified partner of Temenos, delivers complex core banking integration projects on multi-variant delivery models to the BFS industry. 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 Laying foundations for future success With a state-of-the-art, cloud-based core banking infrastructure, EQ Bank is well-placed to connect with partner ecosystems and to thrive when open banking reaches Canada. Daniel explained: “Having such extensive API capabilities with Temenos core banking and the Temenos SaaS puts us in a strong position to develop more integrations with fintechs and to share data securely with third-party providers. These will be essential points both to comply with open banking regulations and to seize the commercial opportunities that the new model will create.” Moving forward, EQ Bank is keen to continue the alliance with Temenos, including serving as a member of the Temenos Ambassador Program. This enables the bank to join seminars on industry trends, provide feedback on capabilities and functionality, and to influence the roadmap for new releases of Temenos solutions. “Temenos is a fantastic partner to EQ Bank and has been integral to our rise as one of the most successful and innovative operators in the Canadian retail banking space. We are looking forward to the additional benefits we will unleash from Temenos Data Hub and Temenos Payments Hub that we are implementing currently.” We can’t wait for the release of new Temenos solutions, especially around data, analytics, and payments, which will help us offer even greater value to our customers.” Daniel Broten, SVP and Head, EQ Bank 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. Plane flying above clouds at sunset 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 Elevated Banking Experiences Attract new customers, grow your revenue, and ensure customer loyalty with Temenos’ innovative banking 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 Woman writing on clipboard at desk Customer Success Stories Real stories of transformation with Temenos solutions. Read more success stories Get started Get started

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.

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.

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.

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.

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.

Launched in 2016 Zain Cash is a mobile wallet business licensed in Iraq, growing 150% Year-on-year.

The mobile wallet product supports both SMEs and consumers to have easy and convenient access to payment, such as collections and payroll services; money transfer services nationally and internationally as well as bill payment, with more than 10,000 agents across the country providing deposit and withdrawal services.

Zain Cash has rapidly expanded, achieving over 1.2 million app downloads.

Yazen Altimimi, CEO, Zain Cash, explains: “ZainCash attract customers with effortless onboarding and innovative and accessible payment solutions designed for everyday convenience.”

Zain Cash has a network of agents across Iraq, which could be a mobile phone shop, local store, or a gas station. Agents are both cash-in and cash-out locations as well as a registration location, which has the potential to improve and increase banking accessibility and ease.

Building a new future

Innovation for Zain Cash is about leveraging technologies to provide better customer experiences. This is in evidence in their product, which utilizes face ID and iris identification, incorporating AI to improve the customer experience and enhance security.

This appetite for innovation has become more important than ever. While Zain Cash’s only product is currently a mobile wallet, the organization’s vision and ambitions are expanding, with hopes to become a digital bank in the near future. That opportunity also presents a number of challenges. Iraq’s banking sector is very regulated and complex. It is also a very competitive industry. There are 70 banks in Iraq, and more standalone providers of wallets and payment solutions. Against this backdrop is an increasingly sophisticated consumer. Yazen explains: “Iraqis are not the consumer of five or ten years ago. They are now very tech-savvy, and mobile first. As a result, they’re expecting the same level of digital services they could find in more developed countries.”

To deliver this future, Zain Cash deployed Temenos core and Temenos Payments Hub (TPH) in March 2024 with Prema Consulting as the implementation partner. This transition included migrating data and balances from 700,000 wallets.

Yazen says: “In March, we relaunched all our tech stack, so the Temenos core banking platform connected to the middleware TIBCO. We were the first to perform this connection. It was a rebirth for Zain Cash.”

Another area Zain Cash wants to focus on innovating is compliance, risk, financial crime and management of AML all from within the Temenos platform.

Scaling ethically

Before moving to Temenos and TPH, Zain Cash had a mobile wallet solution, but did not feel it fulfilled their vision and plan for the future.

Scalability in terms of product development has been matched by the ability to onboard more customers. “With our legacy system, we were very limited in adding new customers. The more we added, the heavier the system became, which compromised performance. Now with Temenos we don’t have that friction. And because we can easily scale, we are able to push our marketing campaigns to drive new sign-ups and improve retention.”

For Zain Cash, growing at scale is also about growing sustainably. And according to Yazen, Temenos is helping them to achieve that too. “We wanted a system that is reliable and sustainable for the future. We have plans to focus on introducing lending products, and that’s something that Temenos does very well. Moving to Temenos means it’s very easy for us to introduce new products very quickly, whether for today or for five years from now.”

While growing at scale and at speed, Zain Cash has implemented ESG principles from the start, especially around its environmental impact.

Improving efficiency and reliability

Zain Cash has seen improvements in operational efficiency and reliability since making the move to Temenos, and positive customer feedback has given them more confidence to increase marketing and product development.

Yazen says: “When we launched with Temenos, we were impressed by the operational efficiency that we were able to unlock. We found that work was much more seamless and reliable. There has been no interruption to our daily payment volume of 100,000 transactions, onboarding customers is now faster, and the response times have improved by 50%. We’re also seeing great feedback from the consumers who use our product.”

According to Yazen, Zain Cash intends to keep the momentum going.

Improving efficiency and reliability

Zain Cash has seen improvements in operational efficiency and reliability since making the move to Temenos, and positive customer feedback has given them more confidence to increase marketing and product development.

Yazen says: “When we launched with Temenos, we were impressed by the operational efficiency that we were able to unlock. We found that work was much more seamless and reliable. There has been no interruption to our daily payment volume of 100,000 transactions, onboarding customers is now faster, and the response times have improved by 50%. We’re also seeing great feedback from the consumers who use our product.”

According to Yazen, Zain Cash intends to keep the momentum going.

Looking to the future

Yazen concludes: “Temenos is quicker, more reliable, scalable, agile, and empowers innovation. And there’s still a lot to learn. It’s just the beginning of our journey with this partnership. We depend a lot on Temenos already, and we’re keen to learn more about Temenos models and how we can leverage them in the future. We have big visions for the future and achieving it will only be possible with Temenos.”

“As a leader of Zain Cash for the past eight years, and as someone that has been operating in the financial service sector in Iraq, which is such a challenging market, I believe Temenos is the best product for anyone who has a vision to provide modern financial services, whether in Iraq, in the region, or across the world.”

Established in 1996, Bank of Abyssinia is currently the largest privately held bank in Ethiopia, and plans to become the leading commercial bank in East Africa by 2030. To reach this milestone, the bank is on a mission to grow its customer base, boosting financial inclusion in the country and beyond.

Helping more Ethiopians access banking services

According to the National Bank of Ethiopia, 75 percent of Ethiopians don’t have a bank account and up to 40 percent of all bank branches in the country are located near to the capital. For many years, banks have struggled to expand their reach beyond urban centers as setting up and running branches in rural locations involves significant upfront capital expenditure and high operational costs.

However, market conditions are rapidly changing in Ethiopia, as more people gain regular and reliable access to the internet. Bank of Abyssinia identified an opportunity to help more people access financial services by building a 100 percent digital banking offering.

Addis Tadesse, Director for Application Management at Bank of Abyssinia, explains: “We’ve offered digital banking services for many years, but most of these services still required our customers to visit a branch at some stage – for instance, to bring identification to open new accounts. Also, some processes such as loan applications required in-person consultations. If we could make the experience completely digital, we would be able to reach underserved communities in remote areas and dramatically increase our market share.”

With no other bank in Ethiopia offering a fully digital service, Bank of Abyssinia decided to pioneer the new approach and searched for a technology partner to support its initiative. Crucially, the bank targeted a solution provider that would help it deliver a truly seamless digital experience and ensure that it could meet strict regulatory requirements for new digital banks set by the National Bank of Ethiopia.

Finding the perfect solution

Bank of Abyssinia decided to build 100 percent digital banking services with Temenos. At the same time, the bank chose to upgrade its Temenos core banking system to ensure that it could provide customers with the very latest innovations in both digital and in-branch banking.

Protecting against fraud

As the first bank in Ethiopia to launch entirely digital services, Bank of Abyssinia knew its new platform would be a potential target for fraudsters and cyber criminals. To safeguard against this risk, Bank of Abyssinia also decided to implement Temenos Financial Crime Mitigation—equipping the bank with the tools to spot and prevent illicit activity in near real-time.

Deepening partnerships

To achieve a rapid implementation, Bank of Abyssinia enlisted the support of Temenos business partner Xpert Digital to deploy Temenos digital banking, including the setup of an API integration with Idemia—the bank’s identity and security solution. Supported by Temenos and Xpert Digital, Temenos digital banking went live in just four months.

“Xpert Digital played a lead role in helping us design a digital banking ecosystem that is secure, reliable and, crucially, easy to use,” comments Addis Tadesse. “The Xpert Digital team went the extra mile by helping us to redesign key workflows for a completely digital environment incorporating best practices. For instance, they helped us to leverage integrations with Idemia to build efficient, highly secure and automated verification processes—allowing us to onboard customers rapidly and with confidence.”

Welcoming new digital customers

By building and launching end-to-end digital banking services with Temenos core and digital banking platforms, Bank of Abyssinia has significantly increased its customer base.

“Temenos gives us the tools we need to offer reliable, convenient and always-on digital banking services,” explains Addis Tadesse. “Today, through our Apollo service, customers can sign up for an account from their mobiles by submitting a video of themselves and a copy of their national identity card. With Temenos Financial Crime Mitigation and Idemia, we can run verification processes quickly and get new customers up and running with their new bank account within one day.”

Empowering more people to invest in their future

As well as offering digital account management services, Bank of Abyssinia enables customers to apply for loans via its mobile banking app—helping more people to access credit, as Addis Tadesse adds: “With Temenos digital banking, we can approve the loan and give our customer to their funds within a few seconds, as long as they meet our lending criteria, where previously this would take months.”

He concludes: “With Temenos, we’ve been able to bring a game-changing solution to the Ethiopian banking sector and empower our customers to bank with us confidently at any time and from any location. We look forward to strengthening our partnership with Temenos in the years ahead as we continue to develop our digital banking offerings and help more customers manage their money effectively.”

Baiduri Bank is one of the largest providers of financial products and services in Brunei, and serves diverse customer segments ranging from retail, MSMEs to corporate and institutional clients. The Bank offers a comprehensive suite of digital solutions including an award-winning mobile banking app and dedicated business digital banking service. The bank will adopt Temenos banking services for core banking, data analytics and financial crime mitigation (FCM) to support its retail and corporate banking, finance and wealth management operations. With this move, Baiduri Bank will be the first bank in Brunei to operate its core banking platform in the cloud under the SaaS model.

Replacing legacy systems with Temenos modern SaaS on Microsoft Azure will enable Baiduri Bank to offer superior customer propositions with personalized offerings at a fraction of the time and cost. The move to Temenos Banking Cloud will commence in 2023, led by Temenos implementation partner Tech Mahindra. Temenos Banking Cloud allows Baiduri Bank to progressively renovate its IT landscape using a composable banking approach to deploy new services faster, more cost-effectively, and at scale.

Digital-only Banco del Sol is targeting a top-three position in the Argentine retail banking market, followed by an expansion into the SME space that comprises 99 percent of the country’s businesses. To build a compelling service proposition, the bank worked with Temenos partner GlobalLogic to implement Temenos core banking, Temenos Financial Mitigation, and Temenos Data & Analytics — gaining integrated core banking, fraud detection, and reporting capabilities. The bank can now launch new services quickly, scale its operations seamlessly, and deliver a consistently high-quality client experience. With more consumers using online services than ever due to COVID-19, this innovative digital presence will help Banco del Sol to achieve its growth objectives.

Banco Itaú, the largest bank in Latin America, knows that it has no time to rest on its laurels. To protect its hard-won market share, the bank continually seeks to invest in the latest banking solutions to meet the fast-changing requirements of its clients. To enrich the product range for its international private banking operations, Banco Itau will deploy Temenos Wealth on the cloud. The platform will deliver integrated core banking, digital channels, analytics and wealth front office functionality. Following a big bang implementation strategy to accelerate time to value, Banco Itau will be able to bring new services to market faster, build an attractive, user-friendly online presence, and scale seamlessly as business volumes grow.

In 2020 Itaú Group extended its relationship with Temenos, choosing SaaS-powered Temenos Wealth Front Office and Temenos core banking – fully configured, pre-packaged solutions with embedded local compliance for the bank’s Swiss and U.S. operations. The front-to-back advanced AI technology of Temenos Wealth will deliver state-of-the-art omnichannel mobile and digital banking applications to enable Itaú Group to offer differentiated digital experiences to its international private banking clients. The shift to a single SaaS digital banking platform will drastically reduce the bank’s time-to-market, IT costs and operational complexity and achieve an improved cost/income ratio.