Export Development Bank live on Temenos T24 core banking system
Sudan-based Export Development Bank (EDB) has gone live with its new core banking system, Temenos’ T24. The Islamic bank implemented R13 of T24 and has also got Temenos’ Insight Financials tool.
The project was initiated three years ago, with the contract signing in Q1 2013.
National Data Consultants (NDC), a regional implementation partner of Temenos, carried out the implementation with Temenos Governance.
The new core system centralised banking processes and practices for retail and commercial operations at the bank, says NDC. Thus, EDB now has a “customer centric approach providing uniform services across all branches” and “is expected to achieve several process efficiencies”.
The solution also complies with the Sudanese Islamic banking practices, assures NDC.
Temenos already has a couple of T24 clients in Sudan, such as Farmers Commercial Bank (the original implementation took place back in 2008, and a major upgrade was completed in April 2015) and a local subsidiary of a Lebanese financial services group, Byblos Bank.