Financial software leader Temenos has partnered with NdcTech, a subsidiary of Systems Limited, to accelerate growth and innovation in the Middle East banking sector. This strategic agreement empowers NdcTech to develop and market Temenos Country Model Banks across seven key markets: Bahrain, Kuwait, Oman, Pakistan, Qatar, Saudi Arabia, and the United Arab Emirates.
The partnership focuses on tailoring Temenos’ Country Model Banks to the specific needs of banks of all sizes within these regions. NdcTech will play a crucial role in not only developing these solutions but also acting as a trusted advisor for upgrade services. This includes enabling customers to modernize their technology infrastructure and potentially migrate to a cloud-based model with Temenos Banking Cloud.
Temenos already enjoys a strong presence in the Middle East, with established clients like Al-Rajhi Bank, First Abu Dhabi Bank, and stc pay. This partnership further strengthens their position. Notably, all Temenos clients will have the opportunity to collaborate with both NdcTech and Temenos to contribute to the ongoing development of the Country Model Banks and influence the product roadmap.
For Temenos, Country Model Banks are a key differentiator. Partnering with a regional expert like NdcTech allows them to rapidly build and deploy new models compatible with their platform on the Temenos Banking Cloud. NdcTech’s deep understanding of engineering, banking platforms, and development methodologies makes them a valuable partner in this endeavor.
“This agreement with NdcTech is a significant step forward,” says William Moroney, Managing Director, Middle East and Africa at Temenos. “It expands our addressable market and opens exciting growth opportunities across these seven Middle Eastern countries. NdcTech’s investment in the Country Model Banks will accelerate our regional competitiveness through the development of localized solutions and market-specific products. This partnership fosters additional investment in our platform and regional growth, ultimately delivering incremental growth for all parties involved.”
Ammara Masood, CEO of NdcTech, echoes this sentiment:
“We are delighted to be entrusted by Temenos to develop Country Model Banks in Pakistan and the GCC region. This milestone signifies our capabilities as a long-standing Temenos partner. Our expertise in global market practices, regulations, and modern architectures positions us perfectly as a trusted partner for the region’s leading banks. This collaboration unlocks immense potential. We are not only driven but also well-equipped to expand our footprint and collaborate with leading institutions in this dynamic market.”
This partnership creates a win-win situation for both companies. NdcTech leverages its regional knowledge and expertise to enhance the Model Banks, while Temenos gains access to a wider market and increased growth potential. This collaboration has the potential to significantly shape the future of banking technology in the Middle East.
