UAE’s Invest Bank Selects Temenos Banking Cloud to Accelerate Digital Transformation with NdcTech
Invest Bank will be one of the first in UAE to run digital and core banking on a SaaS platform
GENEVA, Nov. 16, 2022 (GLOBE NEWSWIRE) -- Invest Bank, a premier commercial bank in UAE, has selected Temenos (SIX: TEMN) to take its digital and core banking to the cloud, in partnership with NdcTech.
Invest Bank will adopt an end-to-end retail and wholesale banking solution on the Temenos Banking Cloud, becoming one of the first in the UAE to adopt a full SaaS model for its digital and core banking platform.
The front-to-back capabilities of Infinity and Transact delivered as SaaS on Temenos’ open platform for composable banking will enable Invest Bank to modernize legacy platforms, bring new products and services to market faster, as well as deliver more innovative customer experiences.
Planned enhancements include instant onboarding and origination with automated approvals based on AI-based rules. The bank will also use the Temenos platform to improve operational efficiency with increased automation and digitized workflows.
Established in 1975 as a public shareholding company, Invest Bank offers a wide range of financial products and services for corporate as well as retail banking.
NdcTech’s expertise on Temenos’ modern platform on the cloud, accelerators of UAE regulatory and market practices, microservices and open API capabilities will help Invest Bank in its digital transformation. The Cloud will provide elasticity to Invest Bank to meet growing customer demand, especially Gen-Z and millennials.
Invest Bank intends to leverage Temenos’ event-driven open-API architecture and extensibility framework to go beyond banking and create a lifestyle services platform.
Ahmad Mohamed Abu Eideh, CEO, Invest Bank, commented: “We are proud of this partnership with Temenos and NdcTech to transform our digital and core banking. We strive to be a pioneer when it comes to customer experience and digital services and with Temenos, the future is today. The bank's core and digital banking services will be working seamlessly together on a single platform. This will help us to foster innovation, automate workflows, as well as deliver digital experiences to meet our customers’ evolving needs faster and at a lower cost.
William Moroney, Managing Director – MEA, Temenos, said: “Temenos has unmatched experience and expertise in the Middle East, and so we are delighted to welcome Invest Bank as our latest regional signing to the Temenos Banking Cloud. Our cloud-native SaaS technology provides a flexible platform for cost-effective core and digital banking modernization. In choosing Temenos, Invest Bank is preparing for the future, opening opportunities for new growth and new possibilities for its customers.”
Ammara Masood, CEO and President, NdcTech, said: “Our Project accelerators such as Country layer and expertise on Temenos Transact and Infinity on the cloud make us the right partner for this transformational engagement. Temenos SaaS solution on the cloud will allow the bank to enhance its banking services with highly connected and personalized interactions for its existing and prospective customers while fueling long term growth. We are proud to be a Temenos implementation partner for the region’s pioneering banks and hope to further extend our footprint in the years to come.”
About Temenos
Temenos (SIX: TEMN) is the world’s leading open platform for composable banking, creating opportunities for over 1.2 billion people around the world every day. We serve over 3000 banks from the largest to challengers and community banks in 150+ countries by helping them build new banking services and state-of-the-art customer experiences. The Temenos open platform helps our top-performing clients achieve return on equity three times the industry average and cost-to-income ratios half the industry average.
For more information, please visit www.temenos.com.
To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.To view this piece of content from ml.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
GlobeNewswire by notifiedGlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
Prosafe SE: Operational Update - April 202419.4.2024 08:13:21 CEST | Press release
Fleet utilization for Q1 2024 was 56 percent. Safe Notos and Safe Zephyrus had utilization of 100 percent in Q1 2024 while Safe Eurus had utilization of 95 percent. Safe Concordia had utilization of 100 percent in Q1 2024 and received 95% day rate until 01 February due to crane repair. Safe Caledonia is laid up at Scapa Flow in the UK pending future work. Safe Boreas and Safe Scandinavia are laid up in Norway pending future work. Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to https://www.prosafe.com Stavanger, 19 April 2024 Prosafe SE For further information, please contact: Terje Askvig, CEO Phone: +47 952 03 886 Reese McNeel, CFO Phone: +47 415 08 186 This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
QPR Software Plc Interim report January–March 202419.4.2024 08:00:00 CEST | Press release
QPR SOFTWARE PLC STOCK EXCHANGE RELEASE 19 April 2024, AT 9.00 AM EET QPR Software Plc's interim report for January-March 2024: SaaS- and software net sales increased. The company's turnaround is progressing according to the strategy, and the first partnership agreements were signed in North America. FINANCIAL DEVELOPMENT BRIEFLY JANUARY-MARCH 2024 SaaS net sales increased by +15%Software net sales increased by +4%Net sales was 1,769 thousand euros, down -21% (January-March 2023: 2, 237) due to company’s discontinuation of consulting outside the core business. EBITDA was 295 thousand euros (-36), a difference of 332 thousand euros from the comparison period The operating profit was 33 thousand euros (-287), a difference 320 thousand euros from the comparison period Profit before taxes was 13 thousand euros (-326), a difference 339 thousand euros from the comparison periodThe result was 13 thousand euros (-331), a difference 344 thousand euros from the comparison period Earnings/share w
SalMar – Integrated annual report 202319.4.2024 08:00:00 CEST | Press release
With reference to the stock exchange notice regarding board approval of final 2023 year-end financial statement on Friday 12 April 2024. Please find attached the 2023 integrated Annual report, including sustainability reporting, for SalMar ASA. The company publishes its annual financial statements also in European Single Electronic Format (ESEF), available as an attachment to this release. On SalMar's website, the renumeration report, TCFD report, GRI index and green bond report for 2023 are also published. For more information, please contact: Håkon Husby, Head of Investor Relations Tel: +47 936 30 449 Email: hakon.husby@salmar.no This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. Attachments SalMar Annual Report 2023salmarasa-2023-12-31-en
SalMar – Integrert årsrapport 202319.4.2024 08:00:00 CEST | Pressemelding
Med henvisning til børsmelding vedrørende styrebehandling av endelig årsregnskap for 2023 fredag 12. april 2024. Vedlagt følger SalMar ASA sin integrerte årsrapport, inkludert bærekraftsrapportering, for 2023. Selskapet publiserer også regnskapet på European Single Electronic Format (ESEF), som er vedlagt denne meldingen. På hjemmesiden til SalMar er også lederlønnsrapport, TCFD rapport, GRI index og green bond report for 2023 også publisert. For mer informasjon, kontakt: Håkon Husby, IR-ansvarlig Tel: +47 936 30 449 Email: hakon.husby@salmar.no Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §5-12 Vedlegg SalMar Annual Report 2023salmarasa-2023-12-31-en
Nykredit Realkredit A/S upgrades full-year guidance, and Nykredit Bank raises deposit rates19.4.2024 08:00:00 CEST | Press release
To Nasdaq Copenhagen A/S 19 April 2024 Nykredit Realkredit A/S upgrades full-year guidance, and Nykredit Bank raises deposit rates The Nykredit Group raises its guidance for 2024 and now expects profit after tax of DKK 10.5-11.5 billion compared with the previously guided range of DKK 9.5-10.5 billion. Recent years' business and customer growth in the Nykredit Group continued during the first months of 2024. Furthermore, thanks to the solid credit quality and resilience of our customers impairment charges for the period were a minor reversal. The upgrade is also rooted in financial market conditions, which had a particularly positive impact on investment portfolio income in the first quarter. Nykredit Bank maintains expectations for profit after tax for 2024 of DKK 3.5-4.0 billion. Totalkredit maintains expectations for profit after tax for 2024 of DKK 3.0-3.5 billion. As of 22 April 2024 Nykredit Bank will also increase deposit rates on all personal current and savings accounts. Going