Banque du Caire, one of the largest state-owned banks in Egypt, has adopted a new banking product from Switzerland-based software company, Temenos in a bid to improve service delivery to its client base.
Temenos made the announcement this week, stating that Banque du Caire has gone live with Temenos Infinity, an omnichannel digital banking product that seeks to “transform the bank’s multiple banking channels into a fast, seamless and compelling customer journey.”
“At this first stage of the Temenos Infinity implementation, the bank has gone live with digital channels servicing corporate and retail customers. The second phase of the implementation will deliver enhanced customer engagement with the Temenos Infinity real-time marketing, digital engagement, and digital analytics modules. Temenos Infinity will allow Banque du Caire, which currently operates a network of 225 branches, to increase product agility and take new products and services quickly to market,” Temenos said in a recent statement.
Temenos Infinity was implemented as an independent front office platform on the bank’s existing third-party core banking system.
The bank is also undergoing a core banking system overhaul after choosing the cloud-native, cloud-agnostic Temenos T24 Transact, the next generation core banking product. By selecting Temenos’ integrated, packaged, open, upgradeable banking software Banque du Caire will benefit from accelerated project timelines which will massively reduce the cost of deployment.
“With this end-to-end digital transformation project, Banque du Caire will be empowered to not only realize its growth strategy in a cost-effective way but also to bring cutting-edge banking services to its 2.9 million customers in Egypt and to continue working towards the bank’s vision to become the region’s leading bank,” said Temenos.
“We are delighted to be working with Temenos as our strategic technology partner for our digital transformation journey,” commented Amr El Shafei, Executive Vice Chairman at Banque du Caire.
“The implementation of Temenos Infinity was on-time and on budget. We selected Temenos’ integrated, packaged and open banking software for our front and back office as this will enable us to transform faster, drive out complexity and drastically lower our overall total cost of ownership,” he added.
On his part, Jean-Paul Mergeai, Managing Director for the Middle East and Africa at Temenos noted that Egypt is embracing the digital revolution.
“We see banks of all sizes embarking on digital transformation projects. We are delighted to be partnering with Banque du Caire. The bank has benefited with a fast implementation of its digital front office by selecting our integrated, packaged product, Temenos Infinity. The bank will be positioned to leverage technology innovation to drive operational efficiencies and enhance their customer experience at a reduced cost,” he said.