INTELLIGENT BRANDS // Software for Business
North International Bank partners with Temenos to launch Bankingas-a-Service platform
North International Bank ( NIBank ) has gone live with Temenos to digitally transform its retail banking and private wealth business lines . The Temenos Banking Cloud supports daily transactions , wealth management and lending .
Based in Antigua and Barbuda , NIBank serves customers in the Caribbean , Latin America and Europe . For its modernization project , the bank needed a technology partner with global expertise , multicurrency capabilities , cutting-edge technology and proven reliability .
As part of its mission to boost economic growth and provide innovative financial services , NIBank has built a robust customer base around prepaid and credit cards .
NIBank ’ s investment in technology including the Temenos platform has allowed it to grow to 25,000 active cards , with plans to expand relationships with global card giants MasterCard and UnionPay International . In the digital era , it ’ s essential that those experiences are fast , easy and simple .
The Temenos Banking Platform will provide NIBank with flexibility , agility and the latest cloud agnostic technology to adapt to new and developing trends such as Banking-as-a-Service ( BaaS ). Leveraging a forward-looking strategy and Temenos ’ expertise in working with BaaS providers like Green Dot , Vodeno and Mbanq , NIBank can create new sources of revenue through banking and non-banking partnerships .
Temenos has been developing and investing in modern technology for almost 30 years . Temenos Banking Cloud enables financial institutions to easily assemble Temenos banking services and thirdparty solutions with composable banking capabilities . The platform ’ s openness and built-in APIs will enable NIBank to create a fully integrated ecosystem of technology and financial services partners .
Jordán Silva Tugues , CEO of NIBank , said : “ Investing in technology has been one of our top priorities over the past few years . We selected Temenos for its global leadership and expertise in serving over 3,000 financial institutions , and the flexibility to leverage the platform based on the size and needs of the bank .
Enrique Ramos O ’ Reilly , Managing Director Latin America and the Caribbean , Temenos , said : “ Disruptive technologies and changing customer demands have led to an unbundling of the banking value chain . The rise of embedded finance means banking no longer needs to happen within a bank .
“ Modernizing our technology with Temenos Banking Cloud will improve our digital customer experience , increase efficiency and propel us to the forefront of banking in the digital era . We ’ re very excited at the success of the project so far and where we will go next .”
“ With Temenos , NIBank can offer banking services through retailers and other companies while continuing to build upon its direct customer relationships . We ’ re delighted to work with NIBank to modernize its technology and launch it into a new phase of growth and innovation .” p
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