Success Stories

STCPay

Targeting exponential growth through cloud-based core banking transformation

Riyadh, Saudi Arabia

Having established itself as the most popular mobile wallet app in the Middle East, STCPay now aims to double its customer base to six million by 2021 and seize a position as the leading digital challenger bank in the region. To reach its objectives, STCPay will modernize its core banking infrastructure with Temenos Payments integrated with Temenos Transact running on a private cloud. The Temenos solutions will provide unique Saudi Model Bank functionality to ensure regulatory compliance and 99% straight-through-processing to optimize efficiency. The bank is also collaborating with Temenos and RedHat to develop a streamlined cloud operating model. Once implemented, the solutions will allow STCPay to develop innovative new services for faster, simpler, and more secure customer transactions, helping it to achieve long-term sustainable growth.

“Temenos brings to this partnership 20 years’ experience deploying advanced banking software and delivering next-generation digital experiences in Saudi Arabia. With Temenos’ market-leading technology and rich banking functionality, we aim to redefine payments, offering outstanding digital experiences that integrate into our customers’ lifestyles.”

Ahmed Alenazi, Chief Executive Officer, STCPay