Mena-based Bank ABC is to replace its legacy core banking systems in 22 markets and power its mobile-only subsidiary ila Bank with a single instance of of the Temenos platform hosted in the cloud.
Consolidating multiple back-end systems on the Temenos platform in the Cloud will provide the bank with a single dashboard and complete 360-degree customer view across business lines and geographies.
The first phase of the project is the implementation of Temenos retail core and origination on Infinity for ila Bank. This will replace current systems for the digital mobile-only offering in Bahrain and provide the agile foundation for planned greenfield expansion. The bank intends to take advantage of Infinity's API-first architecture to extends it range of services into the fast-growing open banking market.
Ismail Mokhtar, group chief operating officer, Bank ABC comments: "Temenos’ platform will enable us to efficiently scale our services. In addition, hosting our core banking system on the Cloud will significantly increase our levels of security and resilience"
The bank has hired NdcTech to run the broader project, which will entail the rip out and replacement of legacy core banking systems for its network of operations in twenty-five markets from fifteen countries worldwide.