Al Masraf to swap ITS Ethix for Temenos T24 core banking system
UAE-based Arab Bank for Investment and Foreign Trade (Al Masraf) is modernising its front-to-back office technology with Temenos.
On the way out is the Ethix core banking system from regional vendor International Turnkey Systems (ITS), Banking Technology understands.
Al Masraf will implement Temenos’ T24 core, Temenos Connect for digital channels and Insight BI for business intelligence and analytics. The combined solution is branded as UniversalSuite by the vendor.
Al Masraf is a universal bank offering consumer banking, corporate banking, Islamic banking, treasury and investment services.
Faisal Galadari, CEO of Al Masraf, says that the latest project demonstrates the bank’s “commitment to technology and innovation”.
“Temenos has the people, culture, and technology to fulfil our vision and support the implementation of our strategy,” he states.