January 25, 2021

Arab Investment Bank picks fresh batch of Temenos solutions

Egypt-based Arab Investment Bank has picked Temenos and its Infinity and Payments solutions in a customer experience improvement programme.

Temenos has multiple clients in Egypt

Founded in 1974, Arab Investment Bank claims to be one of the fastest-growing banks in its home country. It provides personal and business banking on top of its investment services.

The bank is an existing user of the Temenos T24 (now called Transact) core banking system, having selected it in 2013. It picked Temenos Infinity to improve its omnichannel digital banking services.

Temenos says Arab Investment Bank is also looking to centralise its systems for dealing with different payment types. Its selection of Temenos Payments, claims the vendor, will enable efficient payment execution and distribution.

The bank’s board of directors says Temenos “has the most advanced technology” and “strong presence” in the region.

“With support from Temenos, Arab Investment Bank is on a path to becoming a world-class digital bank,” it adds.

Temenos clients in Egypt include T24 users Banque du Caire, Suez Canal Bank, Housing Development Bank, Arab African International Bank, and Egyptian National Post.

Temenos chairman Andreas Andreades has called Egypt “of great importance” to the vendor. It has been active in the country for more than 20 years.

Jean-Paul Mergeai, managing director for MENA at Temenos, says digital banking is “key to unlocking economic development” in Africa.

“Temenos is proud to support […] access to digital banking services in Egypt. 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.”

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