AGB picks Temenos for banking solutions
27 October 2023 Sudan
Image: Nina Michaels/stock.adobe.com
Sudan-based Africa and Gulf Bank (AGB) has adopted Temenos Infinity, the company’s digital and core banking solution backed by Temenos Transact, to modernise its digital and core banking activities.
Temenos’ cloud-hosted solution provides front-to-back banking capabilities, allowing AGB to more quickly deliver products to retail and corporate customers domestically and globally. The bank will also benefit from enhanced compliance and analytics, all accessible through a customisable digital service.
AGB began operations in 2021, and aims to provide Sharia-compliant products to customers in Sudan and in the Sudanese diaspora. The bank looks to create a payment ecosystem in Sudan that promotes financial inclusion, build a digital payments culture and channelise formal inward remittances.
Nadeem Lodhi, CEO of AGB, says: “The investment in Temenos Transact and Infinity underscores our commitment to be not only the best bank but also the most innovative. Replacing the core banking system with a cloud-native platform will improve our bank’s operational efficiency and allow us to introduce new products and services, faster to market.”
William Moroney, Middle East and Asia managing director at Temenos, comments: “Temenos has a strong presence in East Africa and Sub Sahara and this latest signing shows we have a compelling solution for banks in the region.
“Our flexible, cloud-native platform will enable AGB to operate more efficiently and bring innovative new products to Sudanese consumers and businesses more quickly, while improving customer experience. We look forward to working with AGB as it leverages the capabilities of our platform to deliver its ambitious plans and support the growth of the Sudanese economy.”
Temenos’ cloud-hosted solution provides front-to-back banking capabilities, allowing AGB to more quickly deliver products to retail and corporate customers domestically and globally. The bank will also benefit from enhanced compliance and analytics, all accessible through a customisable digital service.
AGB began operations in 2021, and aims to provide Sharia-compliant products to customers in Sudan and in the Sudanese diaspora. The bank looks to create a payment ecosystem in Sudan that promotes financial inclusion, build a digital payments culture and channelise formal inward remittances.
Nadeem Lodhi, CEO of AGB, says: “The investment in Temenos Transact and Infinity underscores our commitment to be not only the best bank but also the most innovative. Replacing the core banking system with a cloud-native platform will improve our bank’s operational efficiency and allow us to introduce new products and services, faster to market.”
William Moroney, Middle East and Asia managing director at Temenos, comments: “Temenos has a strong presence in East Africa and Sub Sahara and this latest signing shows we have a compelling solution for banks in the region.
“Our flexible, cloud-native platform will enable AGB to operate more efficiently and bring innovative new products to Sudanese consumers and businesses more quickly, while improving customer experience. We look forward to working with AGB as it leverages the capabilities of our platform to deliver its ambitious plans and support the growth of the Sudanese economy.”
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