Banking software company Temenos has announced that Alejma’a Alarabi Bank has chosen Temenos T24 core banking to renovate its IT infrastructure.
The Libyan bank has also opted for a host of additional solutions, including Islamic banking capabilities, analytics and reporting, financial crime mitigation, front-office suite and payments hub.
The software will be implemented by Prema Consulting and support the bank in its growth ambitions and vision to offer class-leading services to its customers.
Alejma’a Alarabi Bank operates as a commercial bank offering a range of products and has over 77,000 customers.
Hussein Zarrugh, head of project management at Alejma’a Alarabi Bank, said: “Our bank’s vision is to become the leading private bank in Libya.
“We selected Temenos as our strategic partner to power our digital transformation due to its strong reputation in the country and for its global expertise.
“We were impressed with the breadth and depth of functionality of Temenos’s digital banking platform and feel confident that with Temenos we can innovate now and in the future.”
Jean-Paul Mergeai, managing director of Middle East and Africa at Temenos, added: "We are delighted to support Alejma’a Alarabi Bank to fulfil its digital visions and offer the highest quality of products and services to its customers.
“The Libyan banking industry is opening up, and we have developed a strong reputation and expertise in this market.
“We are best placed to support financial institutions with their core banking renovation projects as they expand into the digital era.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Redefining SME banking technology
There has been significant change in the financial services sector in the past three to five years, one driven by new client expectations of customer experience, performance and speed of execution...
Unity Trust Bank reports 68 per cent profit rise
Unity Trust Bank increased its profits by 68% in 2018, having approved over £200m of lending to firms and projects...
OakNorth reveals plans for Manchester client-facing office
OakNorth’s Manchester client-facing office is expected to go live within two to three months, according to its chief operating officer Amir Nooriala (pictured above)...
SimplyBiz agrees to acquire Defaqto for £74.3m
The SimplyBiz Group has conditionally agreed to acquire the entire issued share capital of Regulus Topco Limited for a total consideration of £74.3m...
Training BDMs to the level required takes 'up to a year'
Investec Private Bank’s BDM Peter Izard (pictured above) has stated that if you don't invest in people, you won’t get the outcomes that you need...
A guide to 'Isa season'
If you’ve opened a newspaper or read the news online recently, you’ve probably come across the term ‘Isa season’ which focuses on how you should use your Isa allowance before the end of the tax year...
UTB introduces new first charge product
United Trust Bank (UTB) has launched a new first charge product aimed at customers who own their properties outright...
Price of flats down as much as 7.5% in last 12 months
The price of flats has fallen by as much as 7.5% in some parts of the UK, according to a report by Gatehouse Bank...
Is there a lack of understanding around e-money institution protection?
There’s an opportunity to improve the understanding and knowledge of financial protection offered by e-money institutions, according to Myles Stephenson, CEO at Modulr (pictured above)...
OakNorth Analytical Intelligence bolsters leadership team
Global fintech platform OakNorth Analytical Intelligence has hired Nikolai Varma and Rikard af Ekenstam to strengthen its leadership team...
Deutsche Bank and Commerzbank confirm merger talks
Deutsche Bank and Commerzbank have confirmed that they are engaging in discussions with an open outcome on a potential merger...