Tag: Cross-Border Payments
Access Bank Group and Mastercard unite to revolutionise cross-border payments in...
Access Bank Group, a leading multinational bank, has partnered with Mastercard, a global technology company in the payment industry, to facilitate cross-border payments for African businesses and consumers.
Open English and dLocal forge strategic partnership to revolutionise local payments...
Open English, an online English-learning platform operating in over 30 countries, and dLocal, a leading cross-border payment platform specializing in high-growth markets, have recently announced a significant partnership.
PayU injects $5m into BRISKPE, boosting India’s cross-border payment capabilities
BRISKPE, a Mumbai-based cross-border payments platform, has successfully secured a $5m seed investment from FinTech giant PayU.
![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-2-324x160.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...
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.
Trulioo and Nium elevate UK payment experience with rapid compliance enhancements
Trulioo, an industry-leading identity platform known for its global coverage and comprehensive verification for individuals and businesses, has joined forces with Nium, a pioneer in real-time cross-border payment services.
RegTech pioneer GSS secures $47m in transformative Series A2 funding
Global Screening Services (GSS), a forefront runner in the RegTech industry, has successfully completed its Series A2 funding round, securing over $47m (£37m).
Zone secures $8.5m seed funding to revolutionise payment systems in Africa
Zone, an emerging powerhouse in Africa's financial technology landscape, announced a significant milestone in its growth trajectory with the completion of an $8.5m oversubscribed seed funding round.
The UK dominated European PayTech in 2023 with a 40% share...
Key European PayTech investment stats in 2023:
• European PayTech companies raised a combined $1.5bn in 2023, a 81% drop from 2022
• European PayTech deal...
Nukkleus to acquire Mercury Global to bolster cross-border payments
Nukkleus, a trailblazer in the FinTech sector, has announced its intention to acquire Mercury Global, a foremost cross-border payments firm.
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