Temenos to drive Arab Investment Bank’s digital growth
In an announcement made by Arab Investment Bank and Temenos, Arab Investment Bank has selected Temenos to drive digital growth and financial inclusion.
As part of the partnership, banking software company - Tememos - will power the bank’s digital customer experience. The bank has chosen the capabilities of Temenos Infinity and Temenos Payments to improve its performance, drive its digital growth strategy and drive financial inclusion for millions of Egyptians.
“Based on Arab Investment Bank strategy, we chose to partner with Temenos to lead our digital transformation, not only because it has the most advanced technology, but also for its strong presence in the region and its reputation for rapid implementation and time to value. With support from Temenos, Arab Investment Bank is on a path to becoming a world-class digital bank. Digital channels are vital to achieving our growth goals and Temenos’ advanced technology will enable us to design and execute a holistic model to support digital acquisition, onboarding, engagement and cross-selling,” commented the Arab Investment Bank Board of Directors.
Whilst Arab Investment Bank already uses Temenos Transact for its core banking technology, the addition of Tememos Infinity, the bank expects to benefit from the omnichannel digital banking product across its customer engagement from acquisition, to account servicing, through to long-term retention. The use of both solutions is also expected to provide end-to-end digital banking transformation and market-leading cost-income ratio for the bank.
“Internet and mobile banking are key to unlocking economic development and financial inclusion and so Temenos is proud to support Arab Investment Bank in its bold mission to improve access to digital banking services in Egypt. The suite of Temenos products deployed by Arab Investment Bank provides an agile platform to move forward at speed with its digital ambitions. By making it easier to open a bank account, receive and make digital payments, our technology is helping Arab Investment Bank dramatically improve the lives of 44 million Egyptians who currently do not have a bank account,” added Jean-Paul Mergeai, Managing Director – Middle-East & Africa, Temenos.