Posted on March 24, 2014

Temenos (SIX: TEMN), the market-leading provider of mission-critical solutions to the financial services industry, announced today that it has completed the implementation of a suite of products, including its T24 core banking system, at al khaliji Bank. Temenos has also supplied Insight, its business intelligence product, and Treasury Trader, which enables a seamless and transparent flow of information synchronising front, middle and back office investment banking operations.

The implementation of the T24 core banking system will better position and support al khaliji for future growth and system enhancements to ensure it is always at the forefront of innovation. Moving to a unified, functionally rich core banking platform will support al khaliji in increasing customer convenience, enhancing the time to market of products and services, reducing operating costs, and developing strategies within Qatar and internationally. In addition, it will enable the bank, to continue growing corporate banking investments, and premium and private wealth management arms.

Jean-Paul Mergeai, Head of Middle East, Temenos, said: “We are delighted to have completed the implementation of T24, Insight and Treasury Trader at al khaliji Bank in only 15 months, aided by the strength of our methodologies and country platform. We look forward to supporting al khaliji as it aims to drive growth with T24 as its core banking platform.”

Last Minute Deals from Kuwait

al khaliji is headquartered in Doha, and is one of Qatar’s leading and fastest-growing banks. Temenos’ solutions replaced the existing core banking system and several best-of-breed systems for its personal and commercial banking and treasury operations, trade finance, customer relationship management and business intelligence functions.

Robin McCall, Group CEO, al khaliji Bank, commented: “Given our rapidly growing customer base, our new T24 core banking system provides us with a strong, flexible and robust environment that will help us continue to deliver innovative products and services across a wide range of channels, whether in-branch, online, or through mobile. The primary reason we chose Temenos is that it offers us complete banking system solutions that have a built-in ability to grow with our bank and evolve to meet the future needs of our customers.” 

Hesham EzzEldin, Group Chief Operating Officer at al khaliji, highlighting the growing banking business and the need for a compatible system solution, commented, “We have invested in T24 to centralise and unify our core banking platform, eliminate complexity, lower total cost of ownership and ensure that our customers are better served and better understood. With T24, we now have an open and modern platform that integrates and interfaces with any external system and has the flexibility and scalability to grow with us. The implementation of Temenos core banking system in such a short timeframe was based on professional partnership, efficient project planning and execution.”