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ADCB Egypt Selects Temenos for Next Generation Digital Payments


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ADCB-Egypt, a subsidiary of the Abu Dhabi Commercial Bank Group – the third largest bank in the UAE, has expanded its partnership with Temenos (SIX: TEMN) (www.Temenos.com) to offer next-generation digital payments on the Temenos open platform for composable banking. .

The bank will develop payment solutions to adopt new global standards such as ISO20022 and SWIFT GPI and strengthen new payment offerings, including instant and cross-border payments, for its retail and business customers. With Temenos, banks will benefit from the agility and flexibility to process payments instantly from any channel, local or international, all in real time.

ADCB Egypt will also develop digital banking solutions with the latest core banking capabilities to streamline and automate the treasury management lifecycle.

Ihab ElSewerky – Managing Director & CEO, ADCB-Egypt, said: “ADCB Egypt has always been interested in embracing the latest technology and partnering with the best service providers. This new step of our collaboration with Temenos will empower the bank’s internal system as a new instant payment solution. Technological improvements will always keep us at the forefront of offering our customers best-in-class service quality and complying with regulatory directives. This is also in line with our digital transformation strategy and our commitment to being at the forefront of innovations that differentiate our services, satisfy our customers and meet their evolving needs.”

Jean-Paul Mergeai, President – ​​EMEA-APAC, Temenos, said: “ADCB is leading the way in digital banking in Egypt. With Temenos, he has created a modern, customer-centric digital bank that can innovate quickly and deliver an outstanding customer experience. Temenos is a clear market leader with a strong presence in Egypt. Our global expertise combined with local market knowledge will support ADCB as it continues to develop and grow its banking services in Egypt.”

With this new partnership, ADCB-Egypt will capitalize on growing customer demand for cross-border payments, offering instant and frictionless payments, account to account, anywhere in the world. Temenos payments on the Temenos open platform will also allow banks to automate front, middle and back-office functions.

The Bank has experienced rapid improvement in its first year and was recognized as the “fastest growing digital bank” and was awarded the Best Digital Transformation Program and Outstanding IT Transformation. Currently, more than half of bank customer transactions are digital.

Temenos Payments is a comprehensive platform for efficient payment execution and distribution – eliminating the need for different systems for different types of payment businesses or payment lines. This platform will enable ADCB Egypt to continuously improve the digital customer experience with new payment products, such as instant payments and request to pay, quickly and at low cost. Temenos Payments is API-enabled and complies with ISO20022 messaging and business flow standards.

Distributed by APO Group on behalf of Temenos.

Media Contact:
Jessica Wolfe & Scott Rowe
Temanos Global Public Relations
Tel: +1 610 232 2793 & +44 20 7423 3857
Email : [email protected]

Alistair Kelly
Newgate Communications on behalf of Temenos
Tel: +44 20 7680 6550
Email: [email protected]

About ADCB Egypt:
Launched late 2020, ADCB Egypt is part of the ADCB Group, one of the UAE’s leading financial institutions.

ADCB Egypt caters to the entire spectrum of customers offering a wide range of products and services for Consumer Banking, Wholesale Banking and Treasury & Investments.

With a number of award-winning digital solutions, ADCB Egypt offers innovative digital solutions, helping to provide the highest level of service and convenience to its customers and partners. ADCB Egypt has a nationwide network of branches and ATMs.

For more information, please visit www.ADCB.com.eg.

About Temano:
Temenos AG (SIX: TEMN) is a world leader in banking software. More than 3,000 banks worldwide, including 41 of the top 50 banks, rely on Temenos to process daily transactions and client interactions of more than 1.2 billion banking customers. Temenos offers cloud-based, cloud-agnostic and AI-based front office, core banking, payments and funds administration software that enables banks to provide a frictionless omnichannel customer experience and gain operational excellence.

The proven Temenos software enables its top-performing clients to achieve a cost-earnings ratio of 26.8% half the industry average and return on equity of 29%, three times the industry average. These clients also invest 51% of their IT budget in growth and innovation versus maintenance, which is double the industry average, proving that the bank’s IT investment adds real value to their business.

For more information, please visit www.Temenos.com.

This Press Release has been issued by APO. Content is not monitored by the Business Africa editorial team and is not content that has been vetted or validated by our editorial team, evidence readers or fact checkers. The publisher is fully responsible for the contents of this announcement.

ADCB Egypt Selects Temenos for Next Generation Digital Payments

Source link ADCB Egypt Selects Temenos for Next Generation Digital Payments

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