Temenos today announces that Reem Finance, a leading corporate and retail finance specialist licensed and regulated by the UAE Central Bank, has selected Temenos to power a new digital community bank in the United Arab Emirates.
The move to Temenos’ cloud-based solution is part of Reem Finance’s broader strategy to embrace digital transformation and enhance its service offerings. The new digital community bank will empower Reem Finance to deliver faster, more flexible banking services that meet the growing needs of a diverse and dynamic customer base.
Reem Finance chose Temenos’ market-leading core banking solution for its comprehensive retail and corporate core banking functionality with robust localization and built-in tools to enhance the bank’s capability to address its compliance requirements. The cloud-based solution will be delivered as Software-as-a-Service (SaaS), enabling Reem Finance to achieve accelerated time to market and scale its operations efficiently as demand grows.
The rich functionality of Temenos' core banking, payments and data analytics solutions will enable Reem Finance’s new Digital Community Bank to provide a range of financial products to individual and business customers while optimizing banking processes to reduce cost and risk. This approach unlocks new growth opportunities, positioning Reem Finance as a key player in the UAE’s rapidly evolving banking landscape.
Seraj Faidi, Chief Executive Officer, Reem Finance, commented: “We are excited to partner with Temenos to launch our digital community bank in the UAE. Temenos’ cutting-edge SaaS platform will enable us to rapidly innovate and scale up, deliver exceptional customer experiences, and stay ahead of the curve in a fast-moving market. The cloud-based Temenos solution has a pivotal role in our tech stack, and it enables us to connect across infrastructure and manage the most critical customer and business data. This collaboration will help us transform the way banking services are delivered in the UAE, with a focus on providing accessible, seamless, and scalable financial solutions to both retail and corporate customers.”
William Moroney, Chief Revenue Officer, Temenos, said: “Temenos is proud to support Reem Finance in launching their new digital community bank. We have a strong presence in the Middle East, expertise in cloud banking and a track record of client success across the region. By leveraging Temenos’ cloud-based platform, Reem Finance is well-positioned to deliver next-generation financial services and continue its mission to drive financial inclusion and innovation across the UAE.”
