Africa and Gulf Bank taps Temenos to drive innovation in Sudan’s banking industry

By Gloria Methri

Africa and Gulf Bank (AGB) has partnered with Temenos to modernize its digital and core banking capabilities. The Temenos solution, hosted on the cloud, will enable AGB to provide innovative products faster to retail and corporate customers in Sudan and around the world.

Having acquired Sudan-based operations of a major Gulf Corporation Council (GCC) bank, AGB commenced operations in late 2021. The bank seeks to bring innovative Sharia-compliant products for its customers within Sudan and internationally to the Sudanese diaspora.

AGB has a customer-centric, digital-first business strategy focused on providing innovative financial products, and services and a branch-lite network outreach to individuals, small and medium-sized enterprises, and corporate customers.

The bank has a collaborative vision to develop a payment ecosystem in the country that will drive financial inclusion objectives, foster a culture of digital payments, and channelize formal inward remittances. Temenos digital and core banking will enable the bank to leap forward in the evolving digital economy in the country by providing modern-day products and financial services.

Sudan has a digitally savvy population and a growing FinTech industry offering a variety of banking services. Backed with Temenos Transact, AGB will utilize Temenos Infinity as an omnichannel, multi-experience platform to serve its customers on multiple channels and devices using native features.

With a complete set of front-to-back banking capabilities on Temenos’ open and composable platform, AGB can deliver a seamless, personalized digital experience to its customers, including those overseas, while also benefiting from enhanced compliance and analytics.

Nadeem Lodhi, Chief Executive Officer of Africa and Gulf Bank, said “The investment in Temenos Transact and Infinity underscores our commitment to be not only the best bank but also the most innovative. Replacing the core banking system with a cloud-native platform will improve our bank’s operational efficiency and allow us to introduce new products and services, faster to market.”

William Moroney, Managing Director – Middle East and Africa, Temenos, said, “We are delighted to be chosen by AGB to modernize its digital and core banking capabilities. Temenos has a strong presence in East Africa and the Sub Sahara and this latest signing shows we have a compelling solution for banks in the region. Our flexible, cloud-native platform will enable AGB to operate more efficiently and bring innovative new products to Sudanese consumers and businesses more quickly while improving customer experience.”