Abu Dhabi Commercial Bank (ADCB) Egypt, a member of the Abu Dhabi Commercial Bank Group, has strengthened its partnership with Temenos to introduce the next-generation digital payments on Temenos' open platform for composable banking.
This collaboration will allow ADCB-Egypt to tap into the growing demand for cross-border payments, offering instant and seamless transactions from account to account, anywhere in the world. The Temenos Payments platform will also enable the bank to automate its front, middle, and back-office functions.
“We are always keen on embracing the latest technologies and partnering with the best service providers,” said Ihab ElSewerky, Managing Director & CEO of ADCB-Egypt. “This new step in our existing collaboration with Temenos will empower our internal systems with the new instant payments solutions, ensuring we stay ahead in offering our customers the best-in-class service quality and comply with regulatory directives.”
ADCB Egypt will leverage Temenos Payments to compose solutions that adopt new global standards such as ISO20022 and SWIFT GPI, powering new payment offerings, including instant and cross-border payments, for its retail and business customers. With Temenos, the bank will benefit from the agility and flexibility to process payments instantly from any channel, local or international, all in real-time.
ADCB Egypt has seen rapid growth in its digital transactions, with over half of its customer transactions now digital. The bank was recognized as the fastest-growing digital bank and awarded the Best Digital Transformation Program and Outstanding IT Transformation.
Temenos Payments is a comprehensive platform for efficient payment execution and distribution, removing the need for separate systems for different payment business types or payment rails. The platform will enable ADCB Egypt to enhance the digital customer experience with new payment products, such as instant payments and request-to-pay, quickly and at a low cost.
“ADCB is leading the way in digital banking in Egypt,” said Jean-Paul Mergeai, President – EMEA-APAC, Temenos. “With Temenos, it has created a modern, customer-centric digital bank that can innovate fast and deliver outstanding customer experiences.”
