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Aiming to digitally overhaul its retail banking and private wealth business lines, the Antigua and Barbuda-based Caribbean bank, which also serves clients in Europe and Latin America, announced a deal this week with new technology partner Temenos. It was started.
Headquartered in Geneva and supporting day-to-day trading, wealth management and lending functions, Temenos will provide NIBank with cloud-agnostic technology to adapt to the latest financial trends, including BaaS.
The Temenos Banking Cloud enables financial institutions to assemble Temenos banking services and third-party solutions with configurable banking capabilities. The platform’s openness and built-in APIs will enable NIBank to create a fully integrated ecosystem of technology and financial services partners.
NIBank has developed its customer base around prepaid and credit card offerings, but its investment in the Temenos platform has allowed it to grow to 25,000 active cards today.The company confirmed its intention to expand its relationship with card giants master Card When UnionPay Internationalciting it as a must-have move in the digital age.
NIBank CEO describes investing in technology as one of the bank’s “top priorities” Jordan Silva Tugues Temenos was chosen for its “global leadership and expertise in serving over 3,000 financial institutions, as well as the flexibility to leverage the platform based on the bank’s size and needs.”
Additionally, Tugues commented: We are very excited about the success of the project so far and where it will go next.
Enrique Ramos O’ReillyTemenos’ Managing Director of Latin America and the Caribbean commented: The rise of embedded finance means that banking no longer needs to take place within the bank.
Temenos will allow NIBank to continue building direct customer relationships while providing banking services through retailers and other businesses.
