North Worldwide Financial institution (NIBank) is to leverage the Temenos banking cloud within the growth of its personal banking-as-a-service (BaaS) platform.
In searching for to digitally overhaul its retail banking and personal wealth enterprise traces, the Caribbean financial institution, which is predicated in Antigua and Barbuda but in addition serves prospects in Europe and Latin America, went reside with its new expertise accomplice Temenos this week.
Geneva-headquartered Temenos, which helps day by day transactions, wealth administration and lending capabilities, will present NIBank with the cloud-agnostic expertise to adapt to the newest monetary traits, together with BaaS.
Temenos banking cloud allows monetary establishments to assemble Temenos banking providers and third-party options with composable banking capabilities. The platform’s openness and built-in APIs will allow NIBank to create a completely built-in ecosystem of expertise and monetary providers companions.
NIBank has cultivated a buyer base across the provision of pay as you go and bank cards, however its funding within the Temenos platform has allowed it to develop to 25,000 lively playing cards right now. The corporate has confirmed its intention to broaden relationships with card giants MasterCard and UnionPay Worldwide; citing it as a vital transfer within the period of digital.
Describing expertise investments as one of many Financial institution’s “high priorities,” NIBank CEO, Jordán Silva Tugues reveals that Temenos was chosen “for its world management and experience in serving over 3,000 monetary establishments, and the pliability to leverage the platform primarily based on the dimensions and wishes of the financial institution.”
Including to this, Tugues feedback: “Modernising our expertise with Temenos Banking Cloud will enhance our digital buyer expertise, enhance effectivity, and propel us to the forefront of banking within the digital period. We’re very excited on the success of the undertaking to this point, and the place we’ll go subsequent.”
Enrique Ramos O’Reilly, Temenos’ managing director for Latin America and the Caribbean, feedback: “Disruptive applied sciences and altering buyer calls for have led to an unbundling of the banking worth chain. The rise of embedded finance means banking not must occur inside a financial institution.
“With Temenos, NIBank can provide banking providers by means of retailers and different firms whereas persevering with to construct upon its direct buyer relationships.”