Fintech in EMEA: Temenos Transforms DX Initiatives for Leading Jordanian Bank

Leading banking software Temenos will offer its instant onboarding service and new mobile banking solutions to accelerate digital experiences for Jordan’s leading bank. Jordan Ahli Bank went live with Temenos Infinity to create new digital customer experiences and support instant onboarding; Rapid development and deployment completed remotely.

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Jordan Ahli Bank is using the cloud-native Temenos Infinity to rapidly develop and deploy new digital and mobile banking experiences, helping it differentiate and drive customer growth in Jordan and the Middle East. Working with Temenos, the bank has successfully achieved this while operating remotely, due to the COVID-19.

How Banking Experiences Enhance Customer Base

With Temenos Infinity, Ahli Bank was able to create a new Instant Account Opening Service in just 30 days, providing an easy way for existing and prospective customers to open an account using only the web or mobile phone. The instant onboarding service and new mobile banking are expected to dramatically accelerate the bank’s customer base in Jordan as well as provide a low cost route to grow and service customers in Palestine and Cyprus.

At the time of this announcement, Jean-Paul Mergeai, Managing Director – Middle-East & Africa, Temenos, commented:

“Temenos Transact has played a key role in Ahli Bank’s transformation strategy. Now, with Temenos Infinity, Ahli Bank is able create and launch new seamless and frictionless digital experiences for its customers with remarkable speed. By making it easier for customers to open an account, manage their finances and pay bills – all through their mobile, Ahli Bank is setting the standard for digital banking in the region and worldwide. Temenos has a strong presence in the Middle East region and I look forward to seeing Ahli Bank continue to innovate the digital experience for its retail customers and extend the digital front office benefits of Temenos Infinity to its corporate banking services.”

Jordan’s Banking Landscape will Get a Massive Fintech Push

Ahli Bank is one of the Kingdom’s leading financial institutions – the third-largest in Jordan by asset size – with a significant local and regional presence, including 63 branches and offices and 111 ATMs across Jordan, Palestine and Cyprus.

Ahli Bank is taking a phased approach, initially focused on Temenos Infinity to transform the digital experience of its personal banking products, including deposit accounts, payments, credit cards, l**** and insurance. In the next phase, the bank plans to deploy Temenos Infinity to accelerate the digital transformation of its corporate banking operations.

DX Based on Core Banking Operations

Ahli Bank was already using Temenos Transact as its core banking technology. Now, with Temenos Infinity, the bank benefits from the leading Omnichannel Digital Banking product covering customer engagement from acquisition, to account servicing, through to long-term retention. Using both products, the bank is able to achieve an end-to-end digital banking transformation.

The technology has enabled Ahli Bank to launch a new digital service that seamlessly integrates with payment portal eFAWATEERcom to make it easy for customers to manage and pay bills such as for water and electricity effortlessly from their mobile device.

Open Banking Projects and Cloud Environment in Jordan

Ahli Bank has also created a Sandbox using Temenos APIs to tap into the worldwide community of 11,000 developers as part of the Open Banking Project, an open-source platform for open banking. The Ahli Bank Sandbox provides a self-contained, virtual testing environment that mimics the live production environment for developers to create customer-facing applications.

Haitham Matar, Digital Strategy Director, Jordan Ahli Bank, stated: “As our technology partner, Temenos has shown deep understanding of the Jordanian and Middle East markets’ local requirements. This has proved a huge advantage for us as we transform our banking operations and adapt to the changing needs of our customers. Adding Temenos Infinity to our existing Temenos Transact core banking platform, means we can now create and continuously enhance our digital products with greater speed and agility. This gives Ahli Bank the edge in delivering a new experience for customers and prospects, helping us to differentiate our service and drive growth.”

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