Al-Ahli Bank of Kuwait swaps Misys’ Equation core banking system for Infosys Finacle
Misys’ Equation core banking system out, Infosys’ Finacle in
Al-Ahli Bank of Kuwait (ABK) has gone live with a new core banking system at its two branches in the UAE (Dubai and Abu Dhabi).
The new platform is Finacle, supplied by Infosys’ product subsidiary Edgeverve.
The bank announced its plans to renovate its front-to-back office technology in early 2016.
It signed for a broad range of solutions from Infosys, including for core banking, online and digital banking, treasury and payments.
It is understood the bank’s domestic operations – head office and 31 branches in Kuwait – are due to go live with Finacle imminently.
On the way out are Misys’ Equation (core banking) and Opics (treasury) systems, Banking Technology understands.
ABK also has a subsidiary in Egypt (formerly Piraeus Bank of Egypt), which has 39 branches. ABK Egypt is a long-standing user of Fiserv’s Signature core system. It is believed Finacle will be rolled out there as well.
