Elavon and FreedomPay partner to transform hospitality and retail payments in Europe
Elavon, a prominent global payments provider, announces an expanded collaboration with FreedomPay to transform payments for hospitality and retail in Europe.
Zilch selects Amazon Web Services to accelerate AI innovation
Zilch, the world’s first ad-subsidised payments network, has extended its collaboration with Amazon Web Services (AWS) to expedite the implementation of Artificial Intelligence (AI) advancements throughout its offerings.
![Temenos (SIX: TEMN) today announced that National Bank of Iraq (NBI), part of the Capital Bank Group, has successfully gone live with Temenos core banking and payments. NBI, which has 27 branches across Iraq, offers a comprehensive range of services to individuals and businesses in the country. Since 2005, NBI has been majority owned by Capital Bank, one of the top financial institutions operating in the Jordanian and regional markets, with assets of approximately JOD 7.6 billion[1]. With this implementation, NBI moved from its legacy systems onto the same core banking platform as other entities in the Capital Bank Group. This will enable NBI to operate more efficiently and integrate seamlessly with other systems to develop new products faster and deliver an improved customer experience. Capital Bank Group is a long-standing Temenos customer with other entities in the Group including Capital Bank of Jordan, Bank Audi, Société Générale Bank Jordan and NBI Saudi Arabia, already on the Temenos platform. NBI also becomes the first part of the group to adopt Temenos Payments, which enabled the bank to process more than 100,000 transactions of incoming and outgoing domestic and international payments in the first 15 days of operation, with a 99% straight-through processing rate. The migration to the Temenos platform for core banking and payments at NBI was completed in under 12 months thanks to Temenos’ pre-configured banking and payments capabilities and APIs which reduced the need for complex customizations, as well as close collaboration between Temenos, NBI, Capital Bank and delivery partner ITSS. This success was recently recognized in the IBS Intelligence Innovation Awards, with Capital Bank winning ‘Best Implementation of Core Banking Services'. The implementation at NBI follows several other successful transformation projects with Temenos for Capital Bank in the last few years, including the launch of NBI’s branch operations in Saudi Arabia in just 45 days, as well as the integration of Bank Audi and the former Jordanian operations of Société Générale, each of which was achieved in under four months. Collectively, these projects helped Capital Bank to increase operational efficiency by more than 50% within three years, bringing significant cost savings and an improved customer experience. With faster, more accurate processing and immediate service requests, the bank has maintained high customer retention rates and a reputation for service excellence. Izzidin Abusalameh, Chief Operations Officer, Capital Bank Group, commented: “This achievement marks a significant milestone in our digital transformation journey and positions us as a leading player in the banking industry. We have seamlessly transitioned the National Bank of Iraq to a cutting-edge core banking system which will not only enhance operational efficiency but also support providing our customers with a superior digital banking experience. Our continued partnership with Temenos has not only provided us with an advanced technological platform but has also facilitated a culture of flexibility and adaptability, enabling us to execute our ambitious growth plans.” Lee Allcorn, Managing Director, Middle East & Africa, Temenos, said: “Congratulations to National Bank of Iraq and the Capital Bank team on this successful implementation that gives NBI business agility and the same modern technology platform and ability to deploy fast with pre-configured banking capabilities as the rest of the group. With Temenos, Capital Bank Group is future-ready, and we are proud to support them as they continue to innovate and leverage our platform to grow sustainably and enhance the banking experience for customers.”](https://fintech.global/wp-content/uploads/2024/04/rupixen-Q59HmzK38eQ-unsplash-2-218x150.jpg "Flutterwave teams up with Acquired.com to streamline outward remittances in EU and UK")
Flutterwave teams up with Acquired.com to streamline outward remittances in EU and UK
Flutterwave, Africa’s leading payments technology company, and Acquired.com, a specialist in payment processing, have entered into a strategic partnership.
Standard Chartered partners with Visa B2B Connect for streamlined cross-border payments
Standard Chartered has joined forces with Visa B2B Connect to expand its existing suite of payment solutions.
Twill Payments secures pre-seed funding to advance AI-driven data analytics
Twill Payments, a pioneering startup in the payments sector, has closed its pre-seed funding round on an undisclosed amount.
Marqeta and OakNorth Bank launch new partnership to enhance UK SME banking
Marqeta, a modern card issuing platform, provides embedded finance solutions globally, supporting the innovation needs of diverse businesses.
Trustly introduces an initiative to boost checkout efficiency across Europe
Trustly, a prominent payments company, has recently announced a significant initiative aimed at propelling business growth throughout Europe.
Airwallex collaborates with Bird to enhance global payments systems
Airwallex, a leading global payments and financial platform for modern businesses, announced its partnership with Bird (formerly MessageBird), a global communication platform.
TabaPay to acquire the assets of Synapse Financial Technologies
TabaPay, Inc., a leading instant money movement platform, has announced that it has agreed to acquire the assets and affiliates of Synapse Financial Technologies, Inc., marking a pivotal move in its growth trajectory.
AkkenCloud and Immediate team up to revolutionise pay cycles in staffing industry
AkkenCloud, a leading innovator in the Staffing Industry known for its advanced automation and AI-driven solutions, has announced a groundbreaking partnership with Immediate, a forward-thinking provider of pay access solutions.
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