Jean-Paul Mergeai, Managing Director Middle East & Africa at Temenos

African challenger bank, Vista Group has partnered with Temenos in order to bolster its digital transformation process.

According to the supplier, Vista Bank has chosen its Temenos Infinity and Temenos T24 Transact for its IT and its core banking systems respectively.  Vista Bank also has selected the advanced Analytics and Reporting, Risk and Compliance modules as well as the Temenos Payments Hub product.

Simon Tiemtore, Group Chairman at Vista Bank, said: “I am delighted that, through our partnership with Temenos which leverages their 25 years of industry expertise, we now have the most sophisticated, innovative, cloud-native banking platform. This will help us realize our vision of building a truly pan-African financial institution group that will add value to the African economy and promote financial inclusion. Temenos is our trusted strategic technology partner and our customers will reap the rewards of its innovative API-first, cloud-native and cloud agnostic software.”

The supplier states that the Temenos regional model bank approach, which includes pre-configured local functionality will enable Vista Bank to cater for specific regulatory requirements during its expansion. Currently operating through a network of 43 branches across Sierra Leone, Guinea and The Gambia, the group’s goal is to expand its footprint into the West African Monetary Union and the Central African market, targeting a presence in 15 countries by 2025.

The bank plans to leverage Temenos’ expertise and experience in providing integrated, scalable packaged software, as well as Temenos’ commitment to invest 20 percent of revenues into research and development every year.

Jean-Paul Mergeai, Managing Director Middle East & Africa at Temenos, said: “We look forward to working as a close strategic technology partner of the bank as it realizes its goal of building a world-class pan-African financial institution group in addition to driving both economic development and financial inclusion in Africa. With Temenos’ market-leading, cloud-agnostic, cloud-agnostic technology the bank will be in an ideal position to meet their commitment of providing cutting-edge digital banking solutions, as well as innovative products and services, aimed at satisfying the unique needs of their customers.”

“This partnership further strengthens Temenos’ longstanding presence in West Africa where for years our real-time and scalable banking software has been helping financial institutions address their evolving customer demands and regulatory requirements. “

by Megha Bhattacharya
Market Analyst at IBS Intelligence