National Bank of Iraq and Capital Bank of Jordan overhaul core banking with Temenos
The National Bank of Iraq (NBI) and Capital Bank of Jordan have tapped Swiss vendor Temenos for a core banking revamp.
Capital Bank of Jordan and NBI tap Temenos
Revealing the “big bang” integrations via LinkedIn this week, Izzidin Abusalameh, group chief operating officer (COO) for Capital Bank of Jordan, confirmed the two institutions’ selection of Temenos Transact, the vendor’s cloud-based core banking solution offering retail, corporate, treasury, wealth and payments functionality.
NBI has also opted for the vendor’s enterprise payments platform, Temenos Payment Hub, with the new tech set to replace its current legacy systems. It has previously leveraged the ICBS core banking system from regional supplier BML Istisharat.
The integrations were consulted upon by the vendor’s regional partner, ITSS.
Capital Bank of Jordan has, since 2005, retained a 61.85% majority share in NBI, and is the only Jordanian bank to operate in the country.
It later doubled down on this position in late 2020 when it acquired the assets and liabilities of Lebanon’s Bank Audi Group, including its operations in Jordan and Iraq.
Prior to its core banking revamp this week, Capital Bank of Jordan has struck a variety of deals with different vendors to boost its digital transformation.
In November 2022, it unveiled a new partnership with UAE-based Codebase Technologies to bring to life a new mobile banking app, while its investments arm, Capital Investments, tapped the vendor again just over a year later for digital onboarding.
Both banks now join the likes of Qatar’s Lesha Bank, Sudan’s Africa and Gulf Bank, Vietnam’s LPBank and Finland’s Aktia Bank, among others, in triggering a tech overhaul with Temenos’ solutions.
