Suez Canal Bank extends Temenos partnership with Infinity deal
Egypt’s Suez Canal Bank has expanded its relationship with Temenos with the selection of the vendor’s Infinity platform.
Suez Canal Bank is also upgrading its Temenos core
The Cairo-based bank is a long-time user of Temenos core banking system T24 (now called Transact).
Temenos says it is now working with the bank on an upgrade. Suez Canal Bank last upgraded the platform in October 2016.
It has selected Infinity to provide a digital layer for client onboarding, account opening, and the launch of new products.
Through Infinity, Suez Canal Bank can deploy optimised mobile device compatibility and new chatbot services.
According to Temenos its client aims to shift the focus of serving its customers from the branch to digital channels.
Founded in 1978, Suez Canal Bank operates 40 branches throughout Egypt. It offers institutional, consumer, and Islamic banking services.
“We are delighted to partner with Temenos to take our digital banking to the next level,” says Hussein Refaie, managing director at the bank.
“Enabling and building engagement with our customers via digital channels is a key growth driver that will help Suez Canal Bank to attract a new generation of customers.”
Temenos president for APAC and MEA, Jean-Paul Mergeai, says the bank is undergoing “an ambitious digital transformation”.
He adds: “Suez Canal Bank is primed to fast-track the digitization of products for its retail, corporate and Islamic banking customers.”
Temenos in Egypt
Temenos holds a strong presence in Egypt. Its clients include Banque du Caire, Housing Development Bank, Arab African International Bank, and Egyptian National Post.
Temenos chairman Andreas Andreades has called Egypt “of great importance” to the vendor. It has been active in the country for more than 20 years.
At the start of the year it signed a new deal with Arab Investment Bank (another T24 user) for the deployment of Infinity.
Related: Temenos shakes up executive team with changes at the top
