Brunei’s Baiduri Bank signs for Temenos core
Baiduri Bank, one of the largest financial service providers in Brunei, has partnered with Temenos as it looks to upgrade its core banking system with a move to Temenos Banking Cloud.
Temenos signs up Brunei’s Baiduri Bank
The agreement will make Baiduri Bank the first bank in Brunei to operate its core banking platform in the cloud under the software-as-a-service (SaaS) model. The move is set to commence in 2023, led by Temenos’ implementation partner Tech Mahindra.
The new core banking system will replace the legacy Flexcube core banking system from Oracle FS, FinTech Futures understands.
Temenos says Baiduri Bank will deploy its SaaS solution on Microsoft Azure to offer better customer experience and personalised offerings “at a fraction of the time and cost”.
The bank will utilise Temenos’ solutions for core banking, data and analytics, and financial crime mitigation for its retail and corporate banking and wealth management functions.
Ti Eng Hui, CEO of Baiduri Bank, says that after a “thorough” market evaluation, Temenos was chosen for its “composable architecture and breadth of banking services to meet our current and future needs”.
Established in 1994, Baiduri Bank is a part of Baiduri Bank Group and offers institutional, corporate, and retail banking services as well as securities trading and wealth management products.
