Temenos (SIX: TEMN), the banking software company, today announced that the Arab Tunisian Bank (ATB) has become the latest bank in the country to select Temenos for its digital transformation program.
ATB will transform its bank with Temenos Infinity, the breakthrough digital front office product, and Temenos T24 Transact, the next generation core banking software. These two banking software products combined with Temenos Payments Hub, Advanced Analytics and Financial Crime Mitigation (FCM) will enable ATB to benefit from an end-to-end digital banking platform, which will bring business agility and innovation.
ATB selected Temenos for its packaged model bank functionality and advanced cloud technology to meet its objectives, which are to increase revenues by 40% in 2020, and double the total number of deposits with new product launches. The bank was looking for an open, API-first and robust digital banking platform to help achieve its plans for future growth. ATB also selected Information Technologies Solutions & Services (ITSS) as its implementation partner. The bank will leverage ITSS global experience and local expertise in Tunisia for a fast and predictable implementation.
With more than 130 branches and 1,300 employees, ATB has grown to be one of Tunisia’s top five banks since its establishment in 1982. In 2017, the bank was also awarded the “Best Commercial Bank in Tunisia” by Global Banking & Finance.
Temenos’ pre-integrated, packaged banking software will provide ATB with faster time-to-market and dramatically reduce operational complexity and costs. With Temenos Infinity and Temenos T24 Transact, ATB will have the agility to create innovative products and services tailored to its customer needs. Temenos Infinity will also enable self-service onboarding capabilities and targeted marketing campaigns, empowering ATB to reach a wider prospective audience. As digital banking gains a stronger hold in Tunisia and the rest of the world, Temenos Analytics will enable ATB to better understand consumers’ behaviors and habits, and respond to changing needs.
Mohamed Ferid Ben Tanfous, CEO, ATB, commented: “Tunisia is quickly embracing the new digital world, and banking is no exception. With state-of-the-art banking software and 25 years of expertise, Temenos was the clear strategic technology partner of choice for us at Arab Tunisian Bank, combined with ITSS’ experience, which was awarded as Temenos Regional Partner of the Year 2019. Temenos’ end-to-end digital banking platform will enable us to offer enhanced, personalized digital experiences for our customers and become a global business partner for customers by developing new lines of business - a key priority at ATB. This digital transformation will help us achieve our ambitious growth objectives and fulfill our mission to contribute to the economic and financial development of Tunisia.”
Laurent Bramy, Regional Director - French Speaking Territories, Temenos, said: “We are thrilled that the Arab Tunisian Bank has chosen to partner with Temenos to power its growth journey. ATB will leverage Temenos’ global experience and local knowledge in providing scalable, packaged software to lower the cost of deployment and gain business agility. ATB will be able to offer outstanding customer experiences and innovative products in response to market changes. With eight clients in the country, Temenos already has a dominant presence in Tunisia, and this ninth signing further underlines our status as a trusted market leader in the region.”
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