Raymond Busuttil, MD & CEO, IIG Bank Ltd

Temenos has announced that the Malta-based trade finance bank IIG Bank, has gone live with its digital front office and core banking product, Temenos’ Infinity and T24 Transact respectively in a bid to allow efficient decision making, streamline data recovery and enable better communication between the customer and the regulator.

Raymond Busuttil, Managing Director & CEO at IIG Bank Ltd, said, “We selected Temenos to future-proof our operations, enabling us to deliver a great customer experience going forward. Temenos has given us much more flexibility to be able to tailor deposit and trade finance products to specific customer needs. Temenos banking software is providing us with cutting-edge technology combined with the most complete functionality in private and corporate banking. As we continue to grow our market share and enhance our market position, Temenos’ agile technology is allowing us to focus on building a best-in-class service.”

According to the supplier, the implementation is expected to enhance customer service quality, propel product agility and help in achieving operational efficiency. It will also allow the company to expand its offerings to include enhanced treasury cash management, deposit accounts, customized lending, as well as documentary credit and trade finance functionalities.

Steen Jensen, Managing Director for Europe at Temenos, said, “IIG Bank understood how our packaged, scalable, cloud-native banking software would benefit its operations. The bank can enter the new era of corporate banking and extend its range of services, reach a wider client base, develop new products and bring them to market quickly, to grow its business. IIG Bank is now able to make technology a selling point for its bank and services, rather than a mere back-office platform.”

Established in 2010, IIG Bank’s services revolve around international trade, commodity finance, treasury, savings and many more.

Recently, Temenos‘ T24 Transact was selected by Mizrahi-Tefahot, an Israeli bank, in a bid to replace its capital market systems with that of Temenos’.

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by Megha Bhattacharya
Market Analyst at IBS Intelligence
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