Kuwait’s Boubyan Bank taps Temenos to modernise its core banking systems
Kuwait-based Boubyan Bank has selected Swiss banking technology vendor Temenos to modernise its core banking systems.
Boubyan Bank becomes Temenos’ latest core banking client
Temenos says the bank is migrating to its core banking platform for corporate banking, retail, and wealth management to improve “business agility and operational efficiency”.
“We chose to partner with Temenos because it is the trusted banking platform for banks globally with the most advanced technology,” explains Adel Abdul Wahab Al-Majed, vice-chairman and Group CEO of Boubyan Bank.
Boubyan will utilise Temenos’ tech to help deliver a personalised banking experience to its clients and streamline the launch of new products, enabling it to respond quickly to evolving market conditions and capitalise on new market opportunities.
The bank adds that Temenos’ scalable platform, featuring “rich Islamic banking functionality on an open, cloud-native, API-first architecture,” will also help support its future growth as it looks to expand its customer base.
Established in 2004, Boubyan Bank is the third-largest bank in the Kuwaiti market in terms of financing portfolio and total assets, offering services to individuals, private clients, and corporations.
Boubyan joins a growing list of recent client wins for Temenos, including Eurobank Cyprus (the country’s third-largest bank), Canada’s Haventree Bank, and Peru’s Credicorp Capital.
