Egypt's MIDBANK Completes Core Banking Overhaul with Temenos
The move marks a significant milestone in the bank's broader digital transformation strategy, aimed at modernising operations and enhancing service delivery across the country.
Following an extensive evaluation process, MIDBANK chose to implement a suite of Temenos solutions, including its Core Banking system, Payments Hub, Financial Crime Mitigation, and Data Hub.
The bank adopted a 'big bang' approach for the transition, decommissioning its previous systems and activating the new platform in a single step.
Amr El-Garhy, CEO and Managing Director of MIDBANK, stated:
'We turned off the light on one system, and turned on the light on another. It was a bold decision, but we were well prepared. Temenos was attentive at the moments that really mattered. They stayed close to the project and showed genuine commitment to our success. Powered by Temenos, MIDBANK is well-positioned to shape the future of digital banking in Egypt.'
The new system is already delivering tangible results, including shorter transaction processing times, improved internal efficiency, and better customer experiences.
Looking ahead, MIDBANK plans to roll out digital banking channels using Temenos Digital and to explore artificial intelligence applications through tools such as the Temenos Product Manager Copilot.
Santhosh Rao, Managing Director for the Middle East and Africa at Temenos, commented:
'MIDBANK's successful go-live is a strong example of how Temenos helps financial institutions modernise with confidence. Our proven delivery capability, combined with our innovative and adaptable platform, enabled a smooth and timely transition. MIDBANK is now equipped to deliver modern, efficient, and customer-centric banking services.'
Temenos' existing presence in Egypt, its local partnerships, and prior experience in the region were instrumental in supporting the implementation.
Key partners included ITSS for the rollout and DXC for testing support.
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