Yemen’s Al Kuraimi Islamic Bank is replacing its legacy IT systems with a single cloud-native, cloud-agnostic digital banking platform from Temenos to underpin its banking operations.
Temenos Infinity and Temenos Transact will provide KIB with a single, packaged and upgradeable banking platform to digitalise its end-to-end operations. Temenos’ banking software will provide rich digital functionality and unparalleled cost efficiencies.
Temenos Infinity will support the delivery of hyper-personalised, omnichannel customer experiences and allow KIB to provide faster, seamless customer service. Temenos Transact will optimise KIB’s operations and enable the delivery of enhanced digital products with shorter timescales for delivery. By driving significant cost efficiencies, Temenos’ technology will enable KIB to offer more accessible and lower cost financial services to the Yemeni population and promote financial inclusion.
Yousif Alkuraimi, CEO, KIB, said: “Temenos’ cloud-native technology will transform our operations by driving incredible efficiency gains, but most importantly, by helping to improve the standard of living for individuals and the prospects for businesses in Yemen.”
Jean-Paul Mergeai, Managing Director – Middle East & Africa, Temenos, said: “We believe that with cloud-native, cloud-agnostic and API-first technology we can support banks to reap the benefits of digital transformation in both the near and longer term and deliver vital digital financial services to their customers at this critical time.”
Established in 2010, KIB has 1.2 million customers and is aiming to reach 5 million by 2023. Its goals include making financial services easily accessible across Yemen, supporting socioeconomic development, and raising the national standard of living.