[Egypt] Banque du Caire selects Temenos 24 Core Banking in comprehensive technology upgrade
Temenos, the software specialist for banking and finance has announced that Banque du Caire has selected Temenos T24 Core Banking as part of its vision in becoming the region’s leading bank.
Banque du Caire has chosen Temenos’ leading T24 Core Banking solution to replace its current solution. T24 will be deployed along with Temenos solutions for Channels, Financial Crime Mitigation, Front Office, Payments, and Risk & Compliance.
With this comprehensive technology upgrade, Banque du Caire will be empowered to not only realise its growth strategy in a cost-effective way, but also to bring cutting-edge banking services to its 2.7 million customers in Egypt.
With accelerated time to market for new products and an enhanced user experience across channels and devices, this signing cements Banque du Caire’s commitment to providing the products and services that the Egyptian public needs. Banque du Caire is a multi-award winning, full-service bank that provides a complete array of products and services to the retail and corporate markets.
The bank plays an effective role in financing vital sectors of the national economy through participation in the syndicated loans serving different sectors, as well as in financing SMEs and Microfinance projects.
By implementing Temenos’ proven and upgradeable software, Banque du Caire continues to ensure that the 10,000,000 million transactions processed monthly are fast, secure, and compliant, as well as providing world-class products and services to consumers and small business owners across Egypt.
Khaled Hamada, CIO, Banque du Caire, commented: “Banque du Caire has seen continued growth, and we are projected to grow 10% year-over-year. Our existing platform was not flexible enough to scale and respond to our growing customer base and their needs. Temenos’ technology provides us with an agile solution, which can scale to size, and offers pre-configured features and enhanced product agility. By partnering with Temenos, we will be able to bring to our customers a highly responsive service, tailored products and a truly customer-centric experience.”
Jean-Paul Mergeai, Regional Director – MEA, Temenos, stated: “Temenos is excited to have been chosen by Banque du Caire as one of their primary technology partners to expand through innovation and operational excellence, and to transform the bank from a product-centric to a customer-centric model. This strategy aligns perfectly with Temenos’ vision which has enabled us to develop a packaged, upgradable and innovative core banking platform which is used by more than 1000 financial institutions globally.”