back Back

KAF to launch digital lending on the Temenos Banking Cloud

By Leandra Monteiro

December 14, 2021

  • Digital Lending
  • Islamic Financing
  • KAF
Share

Temenos, KAF, MalaysiaTemenos, the banking software company, announced that KAF, a well-diversified financial services conglomerate in Malaysia, has selected the Temenos Banking Cloud to launch a digital lending business. KAF will use Temenos Banking Services for retail loans and Islamic financing delivered on the Temenos Banking Cloud to offer conventional and Islamic products.

KAF’s ongoing expansion into the retail market reflects an urgent need for digital finance in Malaysia, with people and businesses facing economic hardship and lockdown restrictions limiting access to branches. By providing a seamless digital onboarding and origination experience, KAF aims to offer customers digital straight-through loan processing that focuses on better accessibility and affordability.

KAF’s ambitions extend beyond lending to include digitalisation of a whole suite of financial products and services, including asset management, investment banking and stockbroking. With regulator approval, the Temenos Banking Cloud will enable the bank to quickly turn on new financial services to expand its offering and scale efficiently. The agility offered by the Temenos Banking Cloud to innovate and bring new products and services to market faster will give KAF a competitive edge.

Jean-Paul Mergeai, President, APAC – EMEA, Temenos, commented, “We are proud to welcome KAF, a trail-blazing bank and the first in Malaysia on the Temenos Banking Cloud. There is a huge opportunity for digitalizing financial services in Malaysia and with our open banking platform, KAF is well-positioned to capitalize on that growth. With new entrants in the digital space, the ability to self-provision financial services at the click of a button will be a real competitive advantage for KAF.”

Thariq Usman Ahman, Deputy CEO, KAF Investment Bank, said, “We chose Temenos as we needed the agility and speed of a SaaS solution, and only the Temenos Banking Cloud offered the breadth of financial services functionality to meet our current and future needs. Critically, it enables us to bring together digital lending for conventional and Islamic products on a single platform and seamlessly extend to full digital banking services. With Temenos, we will lead the way in bringing new and exciting digital financial products and services to all Malaysians.”

Previous Article

December 14, 2021

Her Majesty’s Revenue and Customs reported 17 serious data breaches to ICO

Read More
Next Article

December 14, 2021

Thales brings its ‘Trusted Merchant Gateway’ to India

Read More










IBSi Daily News Analysis

The Weekly Wrap

March 24, 2023

Digital Lending

The Weekly Wrap: all you need to know by Friday COB | March 24th

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

March 24, 2023

AccesBanque taps Compass Plus Technologies for ATM acquiring & card management

Read More

March 24, 2023

7 FinTech tweets you should see!

Read More

March 24, 2023

Lithuania’s Climate Tech HeavyFinance closes €3m seed round

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q4 2022

£1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q4 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q4 2022

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q4 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022