Tag: Remittances
Emirates NBD and Nium partner to transform global cross-border payments in...
Nium, a global leader in real-time cross-border payments, has announced a partnership with Emirates NBD that aims to transform global cross-border payments in the Middle East.
![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.
NMI unveils new mobile card reader to enable seamless payments for...
NMI, a global leader in embedded payments, has introduced the ID TECH VP3350 mobile card reader, expanding the range of devices supported on its gateway.
Mastercard and Equity Bank boost Kenya’s remittance landscape with innovative cross-border...
Mastercard and Equity Bank have unveiled a strategic collaboration that will revolutionise the way money is transferred across borders.
LemFi and Visa partner for global expansion: A leap towards international...
LemFi, a UK-headquartered international payments company, and Visa Cross-Border Solutions, a division of Visa specialising in cross-border money movement, have recently inked a deal aimed at expanding LemFi's global footprint.
Mastercard and Remitly collaborate to enhance cross-border payment options
Mastercard, a global pioneer in payment solutions, and Remitly Global, Inc. (NASDAQ: RELY), known as "Remitly", a top-tier digital financial services platform catering to immigrants and their kin, have unveiled a new partnership. Their united goal is to broaden the horizons of cross-border payments and remittances.
TangoPay and ThetaRay Join Forces to Fortify Global Remittance Security
TangoPay, a UK-based Authorised Payment Institution, and ThetaRay, renowned for its next-generation AI-driven global payment security, have announced a strategic collaboration. Together, they aim to bolster the defences of TangoPay’s international payment platform against potential financial criminal activities.
MoneyGram backs financial super-app Jingle Pay
UAE-based financial super-app Jingle Pay has received a minority investment from P2P payment platform MoneyGram International, alongside a new partnership.
Currencycloud partners with Australian FinTech Bano for new FX Converter tool
International payment solution and infrastructure developer Currencycloud will help Bano, a new Australia-based financial superapp, launch its FX Converter tool to make remittances easier.
Currencycloud teams with Velanis for remittance app for Swiss-based Kosovar population
Currencycloud, which builds international payment solutions and infrastructure, has teamed up with Switzerland-based Velanis AG to support the launch of Swinto.
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