UAE’s new largest bank to consolidate ops on Temenos T24
Hot off the press from 2017 Temenos Community Forum in Lisbon
First Abu Dhabi Bank, the new entity created as a result of a merger between First Gulf Bank (FGB) and National Bank of Abu Dhabi (NBAD), is to centralise its operations on Temenos’ T24 core banking system.
The new platform will support the bank’s conventional and Islamic banking operations across the board (retail, corporate, investment etc).
First Abu Dhabi Bank, which has officially completed its merger on 1 April 2017, is the new largest bank in the UAE and one of the largest in the MENA region, with total assets of over AED 670 billion ($180 billion).
FGB, the smaller of the two banks, is a long-standing user of Temenos’ T24. Meanwhile, NBAD uses a number of core banking system in the UAE and across international locations, including those supplied by Intellect Design Arena and Misys.
In 2011, NBAD was evaluating the TCS Bancs core banking system, supplied by TCS Financial Solutions, but the deal did not materialise, Banking Technology understands.
NBAD’s subsidiary in Sudan uses Path Solutions’ iMAL.
It is understood the Temenos’ T24 system will be rolled out in the UAE to start with, followed by international locations of First Abu Dhabi Bank.
