HDB in Egypt live with Temenos T24 core banking system
Housing and Development Bank in Egypt live with new core platform
Housing and Development Bank (HDB) in Egypt has gone live with new core banking software, Temenos’ T24. The new system ousted an in-house legacy development that “had been deeply customised to cater for HDB’s specific requirements”, according to Temenos.
The project started in Q2 2014, Banking Technology understands.
It was carried out by Masaref, Temenos’ partner in Egypt. HDB’s subsidiary, Data and Transaction Services Company, was the project manager and helped liaise between Temenos, Masaref and the bank.
The implementation project involved the training of over 1,000 bankers, and migrating the data for the bank’s 1.5 million customers.
The bank went live with T24 (UniversalSuite) in a “big bang” across its 64-branch network. “This allowed all of HDB’s operations to benefit from the new technology in the quickest possible timeframe,” Temenos explains.
The vendor has an established presence in Egypt, with around ten customers. Among these are AIBK, Suez Canal Bank and NBK Egypt.
