Bahrain’s Bank ABC Migrates to Temenos Core Banking Platform
In a significant development in the Middle East banking sector, Bahrain’s Bank ABC has successfully migrated its digital-only subsidiary, ila Bank, to the Temenos core banking platform hosted on Amazon Web Services (AWS). This notable transition represents the first phase in a comprehensive transformation programme that the group has embarked on, leveraging Temenos technology. The move also encompasses Temenos Payments and Data Hub.
Systems Limited: The System Integrator and Temenos Delivery Partner
The migration process was executed by Systems Limited, a system integrator and Temenos Delivery Partner. In addition to managing the migration, Systems Limited will also provide ongoing managed services for the platform, ensuring its smooth operation and optimal functionality.
ila Bank: A Digital-Only Bank
Established in 2019, ila Bank is a digital-only bank operating exclusively via mobile channels. As part of the migration, the bank has now shifted its retail account and lending services onto the Temenos platform. Temenos’ cloud-native infrastructure is expected to provide the operational flexibility and integration capabilities necessary for future enhancements and developments.
Bank ABC’s Group Chief Operating Officer on the Transition
Ismail Mokhtar, Bank ABC Group’s Chief Operating Officer, hailed the migration as a significant milestone in the bank’s strategic transformation. He said, “The go-live of ila Bank on Temenos’ Cloud-native core banking system marks a significant milestone in our strategic transformation as MENA’s international bank of the future. This achievement strengthens the bank’s ability to accelerate digital innovation and respond even more swiftly to customers’ needs. It also provides a robust foundation for Bank ABC’s broader transformation as we continue to drive efficiency and enhance our international operations.”
Bank ABC’s Broader Consolidation Plan
Bank ABC’s broader transformation plan involves consolidating various back-end systems across 15 countries onto the Temenos core banking system. The architecture of this system is meticulously designed to facilitate seamless integration with new capabilities and open banking services, thereby enhancing the bank’s operational efficiency and customer service.
Temenos MEA Managing Director’s Take on the Migration
Santhosh Rao, Temenos MEA Managing Director, congratulated Bank ABC on the successful migration. He stated, “We’re proud to support the growth of one of the region’s most dynamic digital banks with our cloud-native core banking and payments technology, and we look forward to bringing this agility and advanced functionality to more of Bank ABC.”
Other Banks Following Suit
Bank ABC isn’t the only financial institution leveraging Temenos’ solutions. In November last year, Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) completed its migration to the latest version of Temenos’ solution, deployed on Red Hat OpenShift with support from Systems Limited.
These developments clearly demonstrate the growing trend among global banks to adopt advanced cloud-based platforms to drive digital innovation, operational efficiency, and superior customer service.
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