Sales League Table 2020 | Banking Technology Winners

Results Announced!

IBS Intelligence launches BankTech Daily News

Subscribe today. Limited time offer.

The Black Swan Opportunity | Get your bank digital ready.

IBSI Special 5 Digital Report Package with Special Offer. Subscribe now

India FinTech Report 2020

Insights into the historical and projected market size of key FinTech categories. Subscribe now

BMCE Bank of Africa selects Temenos for fueling operations in China

Said Adren, General Manager BMCE Bank of Africa Shanghai

Temenos has announced that the Moroccan Bank, BMCE Bank of Africa has implemented Temenos T24 Transact and Financial Crime Mitigation. The implementation will see Temenos fueling BMCE’s operations in corporate banking and trade finance in China.

Said Adren, General Manager BMCE Bank of Africa Shanghai, commented: “As the first Moroccan bank to open in China, this expansion will act as a catalyst for economic relations between Africa and China. As the implementation timeframe was so short, Temenos’ packaged software, Temenos T24 Transact, was vital to our plan. By offering a banking platform that is already compliant with Chinese regulations, and running it on Temenos Cloud, Temenos accelerated the launch of our operations in China.”

BMCE Bank of Africa has been looking to launch a Chinese branch under the BMCE brand. Through Temenos’ support, BMCE was able to receive a permanent license for launching the branch on a scalable platform, at a low total cost of ownership. It also enabled BMCE Bank of Africa to meet the Chinese market and regulatory requirements in an efficient and cost-effective way.

“Thanks to Temenos’ model bank approach, we obtained a new banking license, and have implemented a new core banking system that meets local regulations while supporting BMCE Bank of Africa’s ambitious growth strategy,” Said added.

Established in 1959, BMCE Bank of Africa is one of the leading banks in Morocco with an international presence in 32 countries.

Laurent Bramy, Regional Director – French Speaking Territories, Temenos said: “We are delighted to partner with BMCE to complete this major milestone in their story. By deploying Temenos’ next-generation core banking platform, Temenos T24 Transact, banks are able to benefit from the richest banking functionality with ground-breaking, cloud-native technology to deliver unprecedented speed, scalability, and resilience. Temenos T24 Transact will enable BMCE Bank of Africa to offer new, innovative services rapidly, at the pace of market demand and will allow the bank to scale as it increases trade between China and Morocco.”

Recently, Temenos announced that Eurobank Group has selected Temenos Infinity and T24 Transact in order to lower its deployment costs and enhance business agility.

Related IBS Intelligence Research

Related Posts

OpenPayd

OpenPayd releases crypto banking and payments service

API-led Banking-as-a-Service provider, OpenPayd has released its banking and payments solution for digital currency businesses. The service is expected to provide cryptocurrency businesses with access to a range of banking and payment networks. According to OpenPayd, the platform will offer crypto businesses with access to crypto-friendly banking, simplified cryptocurrency purchase, fiat and digital currency exchange […]

This post is only available to members.

Read More »

Adyen expands acquiring capabilities to Malaysia

Adyen, an Amsterdam-based global payments platform, announced the expansion of its acquiring capabilities to include Malaysia. The company has launched its acquiring solution in Malaysia to help local businesses achieve higher authorization rates, better customer experience, and deeper data insights as the Malaysian market transitions to online payments. “Rolling out our acquiring solution in Malaysia demonstrates […]

This post is only available to members.

Read More »

AeroPay unveils compliant digital payments for Legal Cannabis businesses

AeroPay, a disruptive FinTech reimagining the way money is moved in exchange for goods and services, has announced the launch of a suite of compliant digital payments solutions for state-legal cannabis businesses throughout the United States. AeroPay serves businesses in various industries ranging from nonprofits to restaurants and retail to e-commerce sites. The suite of […]

This post is only available to members.

Read More »
FlexiGroup Limited, FXL, Australia

flexigroup appoints forme NAB executive Jason Murray as its CFO

Sydney-based FlexiGroup (flexigroup) announced today the appointment of Jason Murray as its Chief Financial Officer, commencing on July 9, 2020, replacing outgoing CFO Ross Aucutt. flexigroup is a diversified full-service payments company with offerings in ‘Buy Now, Pay Later’, revolving credit and SME finance. Serving a broad footprint of millennial spenders, young families and small […]

This post is only available to members.

Read More »

Research shows 37% of Brits unprepared for economic downturn

YouGov’s research has revealed that the COVID-19 pandemic has left 37% of Brits or 19.4 million people unsure and unprepared for an economic downturn. It showed that 49% of the population that falls within the Gen-Z age group and 49% of Millenials are least likely to be prepared for a potential downturn as compared to […]

This post is only available to members.

Read More »
Heritage Bank, Australia

Heritage Bank brings Apple Pay to customers in Australia

Australia’s Heritage Bank, a customer-owned bank, announced today that it brings its customers Apple Pay, which is a safe, secure and private way to make payments. This is expected to help customers avoid handing their payment card to someone else, touching physical buttons or exchanging cash. Peter Lock, CEO, Heritage Bank enthused, “We are thrilled […]

This post is only available to members.

Read More »