Temenos and NdcTech sign partnership to expand market reach in Bahrain, Kuwait, Oman, Pakistan, Qatar, Saudi Arabia, and UAE.
Pakistan (Muhammad Yasir) Temenos (SIX: TEMN) has signed an agreement to grant license rights to NdcTech, a wholly owned subsidiary of Systems Limited and one of its largest regional system integrators partners, to develop further and market the Temenos Country Model Banks on top of Temenos open platform for financial institutions in these seven Middle Eastern countries. NdcTech is committed to invest and develop regulatory and business specific localized functionality to enhance these Model Banks for banks of all sizes in Bahrain, Kuwait, Oman, Pakistan, Qatar, Saudi Arabia and the United Arab Emirates. As part of this agreement, NdcTech will become a trusted partner for upgrade services in those countries to enable customers to seamlessly upgrade their technology stack and offer them a modernization path to a SaaS model on the Temenos Banking Cloud. Temenos holds a leading position in the region and boasts a raft of clients across these seven countries including some of the largest and most innovative institutions in the Middle East from Al-Rajhi Bank, to First Abu Dhabi Bank to stc pay. All Temenos clients will be able to work with NdcTech and Temenos to enhance the Model Banks and contribute to the product roadmap. Country Model Banks are a key differentiator for Temenos. By enabling partners to develop new country models, Temenos is able to scale this competitive advantage, rapidly building new model banks compatible with the banking services on Temenos composable platform and available for instant deployment on Temenos Banking Cloud. NdcTech is one of the largest System Integrator and partner for Temenos in Middle East and Africa. The company’s rich engineering expertise, in-depth knowledge of modern banking platforms and unique development methodologies have led to this strategic collaboration. Working together, NdcTech and Temenos will open up new business opportunities and drive revenue growth among existing clients through cross-selling by incorporating regulatory requirements and innovations relevant to local market practices.