Temenos, a global leader in banking software, has announced its collaboration with Africa and Gulf Bank (AGB), a progressive Sudanese bank.
The collaboration is set to allow AGB to modernise its digital and core banking capabilities by implementing the Temenos solution. Hosted on the cloud, it will enable AGB to provide innovative products faster to retail and corporate customers in Sudan and around the world.
Sudan boasts a digitally savvy population and a flourishing fintech industry that offers a wide array of banking services. AGB’s collaboration with Temenos aligns with its vision of creating a payment ecosystem in the country to drive financial inclusion, promote digital payments, and facilitate formal inward remittances. By leveraging Temenos Transact and Infinity, AGB aims to position itself at the forefront of Sudan’s evolving digital economy.
Temenos, as a leading banking software provider, will empower AGB with Temenos Transact and Infinity, facilitating a seamless and personalised digital banking experience across multiple channels and devices.
The African firm will also benefit from enhanced compliance and analytics, thanks to Temenos’ open and composable platform.
AGB, having acquired Sudan-based operations from a major Gulf Corporation Council (GCC) bank, has ambitious plans to introduce innovative Sharia-compliant products and services to both Sudanese customers and the Sudanese diaspora globally. They are pursuing a customer-centric, digital-first strategy to offer innovative financial solutions, particularly focusing on individuals, small and medium-sized enterprises, and corporate clients.
Qamber Al Mulla, Chairman of Africa and Gulf Bank said,“Africa and Gulf Bank has developed an ambitious roadmap based on innovative retail, digital and wholesale banking products and services which include critical capability enhancements like instant onboarding, automated AI-based approvals, straight-through-processing and digitised workflows. Building upon our ‘Digital and Agency First’ strategy, the introduction of Temenos Transact and Infinity will allow AGB to develop robust banking services for Sudanese people both at home and in the diaspora.”
Nadeem Lodhi, Chief Executive Officer, Africa and Gulf Bank, said, “The investment in Temenos Transact and Infinity underscores our commitment to be not only the best bank but also the most innovative. Replacing the core banking system with a cloud-native platform will improve our bank’s operational efficiency and allow us to introduce new products and services, faster to market.”
William Moroney, Managing Director – Middle East and Africa, Temenos, said, “We are delighted to be chosen by AGB to modernise its digital and core banking capabilities. Temenos has a strong presence in East Africa and Sub Sahara and this latest signing shows we have a compelling solution for banks in the region.
“Our flexible, cloud-native platform will enable AGB to operate more efficiently and bring innovative new products to Sudanese consumers and businesses more quickly, while improving customer experience. We look forward to working with AGB as it leverages the powerful capabilities of our platform to deliver its ambitious plans and support the growth of the Sudanese economy.”
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