Arab Investment Bank Taps Temenos to Boost Its Digital Banking Capabilities

Arab Investment Bank Taps Temenos to Boost Its Digital Banking Capabilities

The Arab Investment Bank announced that it has selected Temenos, a Swiss banking software company to bolster its digital banking transformation journey.

Arab Investment Bank chose the capabilities of Temenos Infinity and Temenos Payments to improve performance, drive its digital growth strategy and provide a boost to financial inclusion for millions of Egyptians. The Egyptian bank already uses Temenos Transact as its core banking technology.

With Temenos Infinity, the bank has embarked on a digital transformation journey to make banking and financial services easier, faster and more accessible for all Egyptians. Egypt has an adult population of over 67 million and while over 90 percent have a mobile phone, only 1 in 3 has a bank account and less than 6 percent made digital payments in the last year.

Using both products, the bank will be able to achieve an end-to-end digital banking transformation and market-leading cost-income ratio. The performance benefits will be seen in higher customer growth, lower cost of marketing, improved front office efficiency with increased STP rate and reduced asset write-offs with Explainable AI lending.

Temenos Infinity accelerates time-to-market for new products and deliver a seamless, multi-experience digital journey for its customers. With Temenos Infinity, Arab Investment Bank will offer a