Saudi EXIM Bank goes live on Temenos core
Saudi Export-Import Bank has gone live on Temenos’ core banking platform in order to allow businesses to gain access to trade finance.
Established in 2020, Saudi EXIM Bank offers financial services to businesses in the country engaged in international trade. It offers services including guarantees and credit insurance in a bid to boost the export of non-oil Saudi products.
With the Temenos core banking platform, the bank says it can automate processes, ultimately increasing its operational efficiency.
The implementation process and the go-live took place over six months. Temenos says its consultancy and implementation partners brought in “deep local market expertise”.
Additionally, Temenos adds that its KSA Model Bank approach helped the bank meet its business and regulatory requirements “in a timely and effective way”.
Commenting on the implementation, Saad Bin Abdulaziz AlKhalb, CEO of Saudi EXIM Bank, says: “It will enable faster transaction processing times, improved customer experience, and a more efficient use of resources.
“It will also help us to better manage risks, with improved data analytics and real-time monitoring capabilities.”