ADCB Egypt, a subsidiary of Abu Dhabi Commercial Bank (ADCB), will deploy Temenos’ payments solution as it looks to tap into growing customer demand for cross-border payments.
ADCB Egypt taps Temenos for cross-border payments solution
ADCB, the third largest bank in the United Arab Emirates, is expanding its partnership with the Swiss core banking vendor to adopt new global payment standards such as ISO20022 and Swift GPI.
ADCB Egypt managing director and CEO Ihab El Sewerky says the “technological upgrades” provided by Temenos will allow the bank to expand its offering and comply with regulatory directives.
The move will see ADCB Egypt incorporate new payment services for its retail and business customers through the Temenos Payments platform, including instant and cross-border payments.
Temenos says the bank will be able to process payments in real time from any local or international channel. It adds the integration will also enable ADCB Egypt to automate its front, middle and back-office functions and streamline and automate its treasury management lifecycle.
