Boubyan Bank selects Temenos’ modern core banking platform

By Gloria Methri

Kuwait’s Boubyan Bank has selected Temenos to modernize its core banking systems. The bank is migrating to Temenos’ core banking platform for Retail, Corporate Banking and Wealth Management to enhance business agility and operational efficiency.

Boubyan chose Temenos to access the latest banking capabilities with Islamic banking functionality on an open, cloud-native, API-first architecture. This will enable the bank to accelerate the launch of new products and deliver a personalized experience to customers. In addition, the Temenos platform is scalable to support Boubyan’s growing customer base and future growth.

Temenos’ agile product-building capabilities will help the bank quickly launch new products, capitalize on new market opportunities, and respond to evolving market conditions.

Boubyan is one of the major financial institutions in the Gulf Cooperation Council (GCC) and the third largest bank in the Kuwaiti market in terms of financing portfolio and total assets.  It also has an international presence through its UK subsidiary, the Bank of London and the Middle East (BLME) and its Sharia-compliant digital bank (Nomo).

Adel Abdul Wahab Al-Majed, Vice Chairman and Group Chief Executive Officer of Boubyan Bank, said, “We chose to partner with Temenos because it is the trusted banking platform for banks globally, with the most advanced technology and rich Islamic banking functionality. Temenos gives us access to a wide range of banking services, digital capabilities, and innovative products to continue to enhance the experience, foster trust, and build long-lasting relationships with our customers.”

William Moroney, Chief Revenue Officer, Temenos, said, “Temenos is proud to be selected as the technology partner for Boubyan Bank. As one of the largest Islamic banks in Kuwait and with a growing international footprint, Boubyan is a key signing for Temenos. Our collaboration with Boubyan shows we have a compelling Islamic banking solution tailored for the needs of Kuwaiti banks and opens new opportunities for Temenos in this market.”