Crédit du Maroc taps Temenos for its Digital Transformation

By Pavithra R

Temenos, the banking software company, has announced that Crédit du Maroc, a subsidiary of Crédit Agricole, has announced the selected Temenos to digitally transform its core banking and payments infrastructure.

Crédit du Maroc is among the largest banks in Morocco. It is a universal bank and recognized as a major player in the retail, corporates, and agricultural and agro-industry sectors. 

Under the core transformation project, Temenos will prepare Crédit du Maroc for the future, to deliver an improved, frictionless and innovative omnichannel experience for its retail and business customers and grow sustainably. 

With Temenos Transact next-generation core banking, Crédit du Maroc will receive the flexibility and agility to offer personalized, customer-centric products while allowing for lower operational costs and increased return on equity (ROE). With integrated Temenos Payments, it will also provide a comprehensive, universal platform for efficient payment execution and distribution.

“With Temenos we are preparing Crédit du Maroc for the future with ambitious plans to be an innovative financial player, a sustainable partner to our customers and socially responsible. Temenos’ modern technology platform will not only help to drive incredible operational efficiency it also enables the bank to accelerate time to market for new products. In a highly competitive market for financial services, Temenos gives us the edge and ensures we deliver the highest levels of customer satisfaction and attract new customers to drive growth,” said Yann Crispin, Transformation Deputy Managing Director, Crédit du Maroc

Crédit du Maroc will leverage Temenos’ modern API-first technology to make it easier for retail and business banking customers to manage their accounts and cards, send payments and make deposits while accelerate the time-to-market for new products and services designed to enhance the digital customer experience.

“Temenos is proud to partner with Crédit du Maroc on this exciting transformation project. Temenos has a strong track-record with banks in the region and more than 10 years of investment in the Morocco market. It means that we are able to support Crédit du Maroc with an experienced team that has a deep understanding of the local banking requirements. Crédit du Maroc has clear focus and with Temenos it is set to drive innovation in the market and make banking better for individuals and business in Morocco,” said Alexa Guenoun, Chief Operating Officer, Temenos.

With Temenos Payments, the bank will scale its payment processing capability to meet the increasing volumes, range of channel and customer demands for improved transparency and speed of service. The bank will also become capable of adapting to new regulations and standards quickly, including ISO 20022, payment schemes such as new instant / real-time payments as well as rapidly innovate new payment services such as Request to Pay.