Temenos, a finance software specialist, announced that Arab Bank for Investment & Foreign Trade (Al Masraf) has selected its UniversalSuite, a front-to-back solution that enables banks to offer a user-optimized experience.

Faisal Galadari, chief executive officer, Al Masraf stated: “Our selection of UniversalSuite highlights our commitment to technology and innovation. We invest in our people and technology to deliver innovative solutions and convenience for our customers.

‘The Temenos solution will support our ambitious growth plans and improve our ability to bring innovative products to market more quickly and efficiently. The modern software architecture and real-time features will provide the foundation for our digital business. Temenos has the people, culture, and technology to fulfil our vision and support the implementation of our strategy, which is why we've chosen them as our strategic technology partner."

Temenos’ UniversalSuite, used by over 400 banks across the world, is proven to reduce banks’ infrastructure costs, while enabling them to deliver enhanced customer-centricity at scale. It combines an agile core with powerful analytics and a user experience platform, all integrated on a single platform.

Ahmed Alrefae chief operation officer, Al Masraf said: “We selected Temenos above other vendors based on its advanced system architecture and its packaged software model. With an impressive legacy building real-time, innovative, integrated and open banking software, Temenos’ solution has the capacity to accommodate our business and the all-important journey toward digitization. The architecture of the software allows for instant customer fulfilment, easy integration with the bank's other systems and full exploitation of the bank's data assets. This will allow us to better support our core operations and channels to deliver a unique and differentiated customer experience.”

Jean Michel-Hilsenkopf, managing director at Temenos said: “Temenos is delighted to be working with Al Masraf on this significant core banking project. By selecting Temenos’ integrated, front-to-back solution across its entire business, Al Masraf puts itself in a position to differentiate its customer proposition in a highly competitive marketplace while also ensuring the continued success of this great and longstanding institution.

“With its capacity to accommodate the Federal bank business, our core banking platform will give Al Masraf the technology to scale its business while also delivering exceptional customer service.” – TradeArabia News Service