Kuwait-based Boubyan Bank has chosen Swiss banking technology vendor Temenos to upgrade its core banking systems.
Boubyan Bank Embraces Temenos’ Advanced Core Banking Platform
Temenos announced that Boubyan Bank will migrate its corporate banking, retail, and wealth management operations to Temenos’ core banking platform to enhance business agility and operational efficiency.
Adel Abdul Wahab Al-Majed, vice-chairman and Group CEO of Boubyan Bank, explains the partnership: “We chose to partner with Temenos because it is the trusted banking platform for banks globally with the most advanced technology.”
Boubyan Bank plans to leverage Temenos’ technology to deliver a personalized banking experience to its clients, streamline the launch of new products, and respond swiftly to changing market conditions and new opportunities.
The bank highlights that Temenos’ scalable platform, which features “rich Islamic banking functionality on an open, cloud-native, API-first architecture,” will support its future growth as it seeks to expand its customer base.
Founded in 2004, Boubyan Bank is the third-largest bank in Kuwait in terms of financing portfolio and total assets, offering services to individuals, private clients, and corporations.
Boubyan Bank joins a growing list of recent client acquisitions for Temenos, which includes Eurobank Cyprus, Canada’s Haventree Bank, and Peru’s Credicorp Capital.
