Temenos SaaS selected by Al Ain Finance to remotely deploy corporate banking solutions during COVID-19
By Edil Corneille
Al Ain Finance will rapidly deploy the Temenos Infinity and Temenos Transact on Temenos SaaS to replace its legacy in-house system and achieve end-to-end digital transformation. The front-to-back SaaS digital banking offering will provide out-of-the-box functionality for Al Ain Finance to deliver differentiated digital experiences to Small and Medium-sized Enterprises (SMEs). The cloud-native technology will be delivered remotely as Temenos SaaS to allow the business to respond to the increasing demand for digital banking during COVID-19 in the quickest possible timeframe. Temenos’ SaaS solution will be hosted on Microsoft Azure.
Mohammed R, Chairman, Al Ain Finance stated, “…Temenos SaaS offering will provide us with a pre-packaged, comprehensive corporate banking product to provide superior digital experiences to our SME customers. Temenos’ cloud-native technology and unrivalled business experience in the region will be a catalyst for the digital transformation of our business…”
Al Ain Finance is a Private Joint Stock Company licensed and regulated by the UAE Central Bank.
Jean-Paul Mergeai, Managing Director – Middle-East & Africa, Temenos commented, “…We see a surging demand in cloud adoption and SaaS based-models in the region which is being accelerated by the coronavirus pandemic as banks require more resilient and agile technology propositions. Temenos is the only provider to offer banks the most advanced cloud-native technology and the broadest functionality. With our cloud technology, Al Ain Finance will gain speed to market, and benefit from reduced cost and complexity.”
The API-first, cloud advanced technology will enable Al Ain Finance to respond to the evolving market conditions and will help it capitalize on new opportunities. The AI technology will drive automation and process optimization, thereby empowering the business to focus its resources on customer-centricity while reducing operational costs.
The technology is said to be highly localized and will be quickly implemented without customization so Al Ain Finance can digitalize its operations and gain a rapid return on investment. The financial institution will combine the strengths of Temenos’ UAE Model Bank and Temenos SaaS to deploy the pre-configured banking functionality in the shortest possible timeframe.
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