AI Ain Finance picks Temenos to replace legacy in-house system
15 July 2020 Geneva
Image: Yurchanka Siarhei/Shutterstock
Al Ain Finance has selected Temenos to provide a front-to-back software-as-a-service (SaaS) digital banking solution to small and medium-sized enterprises (SMEs).
Temenos SaaS will administer Temenos Infinity and Temenos Transact to Al Ain Finance for end-to-end digital transformation amid increasing demand for digital banking during the ongoing COVID-19 pandemic.
Hosted on Microsoft Azure, the Temenos SaaS solution will replace the legacy in-house system of the UAE-based corporate finance institution.
Mohammed Rashid Al Ketbi, chairman of Al Ain Finance, commented: “We are delighted to partner with Temenos and adopt cutting-edge cloud technology to rapidly transform our business. Temenos SaaS offering will provide us with a pre-packaged, comprehensive corporate banking product to provide superior digital experiences to our SME customers.”
He continued: “Temenos’ cloud-native technology and unrivalled business experience in the region will be a catalyst for the digital transformation of our business. Temenos will provide a completely remote installation in light of the COVID-19 pandemic, enabling us to realise our business goals and support SMEs with vital financing in a matter of days.”
Jean-Paul Mergeai, managing director, Middle East and Africa at Temenos, added: “We are excited to partner with Al Ain Finance as they embrace the power of the cloud to transform their business and offer outstanding digital experiences to SMEs.”
“We see a surging demand in cloud adoption and SaaS based-models in the region which is being accelerated by the COVID-19 pandemic as banks require more resilient and agile technology propositions. With our cloud technology, Al Ain Finance will gain speed to market, and benefit from reduced cost and complexity.”
Temenos SaaS will administer Temenos Infinity and Temenos Transact to Al Ain Finance for end-to-end digital transformation amid increasing demand for digital banking during the ongoing COVID-19 pandemic.
Hosted on Microsoft Azure, the Temenos SaaS solution will replace the legacy in-house system of the UAE-based corporate finance institution.
Mohammed Rashid Al Ketbi, chairman of Al Ain Finance, commented: “We are delighted to partner with Temenos and adopt cutting-edge cloud technology to rapidly transform our business. Temenos SaaS offering will provide us with a pre-packaged, comprehensive corporate banking product to provide superior digital experiences to our SME customers.”
He continued: “Temenos’ cloud-native technology and unrivalled business experience in the region will be a catalyst for the digital transformation of our business. Temenos will provide a completely remote installation in light of the COVID-19 pandemic, enabling us to realise our business goals and support SMEs with vital financing in a matter of days.”
Jean-Paul Mergeai, managing director, Middle East and Africa at Temenos, added: “We are excited to partner with Al Ain Finance as they embrace the power of the cloud to transform their business and offer outstanding digital experiences to SMEs.”
“We see a surging demand in cloud adoption and SaaS based-models in the region which is being accelerated by the COVID-19 pandemic as banks require more resilient and agile technology propositions. With our cloud technology, Al Ain Finance will gain speed to market, and benefit from reduced cost and complexity.”
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