Crédit du Maroc in core banking and payments tech overhaul with Temenos
Crédit du Maroc, the Morocco-based subsidiary of Crédit Agricole, embarks on an overhaul of its core banking and payments infrastructure with a suite of Temenos’ products.
The bank will implement the vendor’s flagship core banking system, Temenos Transact, and the integrated payments platform, Temenos Payments.
Crédit du Maroc is one of the largest banks in Morocco with 2,500 staff. It is a universal bank providing services to retail, corporate, agricultural and agro-industry sectors.
In 2017, the bank also launched an Islamic finance window, for which it selected Path Solutions’ iMAL core banking software.
“With Temenos we are preparing Crédit du Maroc for the future with ambitious plans to be an innovative financial player, a sustainable partner to our customers and socially responsible,” says Yann Crispin, transformation deputy managing director, Crédit du Maroc.
He expects the new software to help drive “incredible” operational efficiency and faster time market for new products. It will give the bank “the edge” in a highly competitive market, he believes.
Alexa Guenoun, chief operating officer (COO) at Temenos, says the vendor “has a strong track-record with banks in the region and more than ten years of investment in the Morocco market”.
Its long-standing clients in the country include Bank of Africa and CIH Bank.