Bank ABC partners with Temenos and NdcTech for Next-Generation Core Banking System

TDT | Manama                                        

The Daily Tribune – www.newsofbahrain.com   

Bank ABC, one of MENA’s leading international banks, has signed agreements with Temenos and NdcTech to replace its core banking systems for its retail, corporate and wholesale businesses and power its subsidiary, ila Bank, the MENA region’s fast growing digital mobile-only bank, with Temenos’ core banking platform on the Cloud.

With this transformation project, to be implemented by NdcTech (a Systems Limited Company), Bank ABC will replace its legacy core banking systems for its network of operations serving customers in twenty-five markets from fifteen countries worldwide with a single instance of the Temenos platform.

NdcTech will also be providing end-toend managed services to enable Bank ABC to run its operations seamlessly on the cloud.

During the signing ceremony, Sael Al Waary, Acting Group CEO, Bank ABC, commented: ““Today, marks a momentous milestone in our journey to build our bank of the future.

Consolidating our banking systems on a single platform will give us a robust foundation to accelerate growth and create significant value for our stakeholders..” Ismail Mokhtar, Group Chief Operating Officer, Bank ABC added: “ We look forward to working with Temenos and NdcTech teams during the implementation phase and reaping the benefits of this investment.”

William Moroney, Managing Director – Middle East & Africa, Temenos, expressed his delight in being selected by Bank ABC to transform its core banking systems and power the MENA region’s fast growing digital mobile-only ila Bank on a single platform in the Cloud.

Ammara Masood, CEO and President, NdcTech, said NdcTech services and country model on the Cloud platform paves the way for banks to deliver mission-driven products and services that delight their customers.