Reem Finance partners with Temenos to launch digital community bank in the UAE

November 28, 2024

Reem Finance has partnered with Temenos to establish a new digital community bank in the United Arab Emirates (UAE).

The decision to leverage Temenos’ market-leading core banking platform underscores Reem Finance’s strategy to enhance operational efficiency and compliance. With robust localisation capabilities, the platform offers advanced retail and corporate banking functionality. Delivered as Software-as-a-Service (SaaS), the solution ensures rapid scalability and streamlined operations, enabling Reem Finance to adapt quickly to market demands.

By integrating Temenos’ core banking, payments, and data analytics capabilities, the new digital community bank aims to provide seamless services to both individual and business customers. The platform’s ability to optimise banking processes and reduce costs is expected to position Reem Finance as a competitive player in the UAE’s dynamic banking sector, unlocking new opportunities for growth.

Reem Finance CEO Seraj Faidi expressed enthusiasm for the partnership, stating: “We are excited to partner with Temenos to launch our digital community bank in the UAE. Temenos’ cutting-edge SaaS platform will enable us to rapidly innovate and scale up, deliver exceptional customer experiences, and stay ahead of the curve in a fast-moving market.

“The cloud-based Temenos solution has a pivotal role in our tech stack, and it enables us to connect across infrastructure and manage the most critical customer and business data. This collaboration will help us transform the way banking services are delivered in the UAE, with a focus on providing accessible, seamless, and scalable financial solutions to both retail and corporate customers.”

Temenos CRO William Moroney echoed these sentiments, saying: “Temenos is proud to support Reem Finance in launching their new digital community bank. We have a strong presence in the Middle East, expertise in cloud banking and a track record of client success across the region. By leveraging Temenos’ cloud-based platform, Reem Finance is well-positioned to deliver next-generation financial services and continue its mission to drive financial inclusion and innovation across the UAE.”