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.

by Megha Bhattacharya
Market Analyst at IBS Intelligence