- ADCB Egypt, which is owned by Abu Dhabi Commercial Bank, has taken on services offered by the Swiss firm Temenos as part of a new push towards digital payments.
- It intends to use this service to conform to its requirements under the SWIFT GPI system as well as the new ISO20022 standard.
- “The technological upgrades will always keep us ahead in offering our customers the best-in-class service quality and comply with regulatory directives,” said a senior figure at ADCB Egypt.
ADCB Egypt, a provider of cross-border payments services, has confirmed that it will use a digital payment solution from the core banking firm Temenos.
The firm, which is owned by Abu Dhabi Commercial Bank, has announced that it will use the Temenos package, which is based in Switzerland.
ADCB claims the status of being the third biggest bank in the United Arab Emirates.
It is now expected to use its software solutions to take on new standards, including the ISO20022.
It is also thought to be preparing to use the services to conform to the SWIFT GPI system.
In a statement, the managing director and chief executive officer of ADCB Egypt said that the company had always wanted to get to grips with new technology.
Ihab El Sewerky said that pairing up with “the best service providers” was a key goal.
“ADCB Egypt is always keen upon embracing the latest technologies and partnering with the best service providers. This new step of our existing collaboration with Temenos will empower the bank’s internal systems as the new instant payments solutions,” he said.
He went on to say that upgrades on the tech front allowed the firm to remain in the lead when it comes to providing clients with top service.
“The technological upgrades will always keep us ahead in offering our customers the best-in-class service quality and comply with regulatory directives,” he explained.
He also said that the move fitted the company’s “transformation strategy”.
“This is also in line with our digital transformation strategy and commitment to being at the forefront of innovation that differentiates our service, delights customers, and meets their growing needs,” he said.
For Temenos, meanwhile, the president of the firm in Europe, the Middle East and Africa and the Asia Pacific regions said in remarks to the press that his bank was at the forefront of Egyptian digital banking.
Jean-Paul Mergeai said that it placed customers front and centre for the purposes of innovation.
“ADCB is leading the way in digital banking in Egypt. With Temenos, it has created a modern, customer-centric digital bank that can innovate fast and deliver outstanding customer experiences,” he explained.
“Temenos is the clear market leader with a strong presence in Egypt. Our global expertise combined with local market knowledge will support ADCB as it continues to develop and grow its banking services in Egypt,” he added.
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