Temenos and North International Bank Introduced Baas Platform

Temenos and North International Bank Introduced Baas Platform
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Temenos declared that North International Bank (NIBank) had started implementing Temenos to digitally modernize its private wealth and retail banking business lines. Everyday transactions, wealth management, and lending are supported by the Temenos Banking Cloud.

Users in the Caribbean, Latin America, and Europe are served by NIBank, an Antigua and Barbuda-based company. For its transformation program, the bank required a transformational approach with extensive international experience, multi-currency capabilities, cutting-edge technology, and a track record of dependability. To adapt to emerging trends like banking-as-a-service, the Temenos Banking Platform will give NIBank flexibility, agility, and the newest cloud-agnostic technologies (BaaS). By utilising a forward-thinking strategy and Temenos’ experience working with BaaS providers like Green Dot, Vodeno, and Mbanq, NIBank can develop new banking and non-banking partnerships that will generate new streams of income.

Jordán Silva Tugues, CEO of NIBank, commented, “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. Modernising 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.”

Prepaid and credit cards have helped NIBank develop a sizable customer base as part of its objective to spur economic growth and offer cutting-edge financial services. With aspirations to deepen its connections with global card giants MasterCard and UnionPay International, NIBank’s investment in technology, notably the Temenos platform, has allowed it to expand to 25,000 active cards today. These interactions must be quick, straightforward, and effortless in the digital age.

For about 30 years, Temenos has been creating and funding cutting-edge technologies. Financial institutions may quickly put together third-party solutions with composable banking capabilities and Temenos banking services thanks to Temenos Banking Cloud. A fully integrated ecosystem of technology and financial services partners may be established by NIBank because to the platform’s openness and built-in APIs.

Enrique Ramos O’Reilly, Managing Director – Latin America and the Caribbean, Temenos, stated, “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. 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 modernise its technology and launch it into a new phase of growth and innovation.”

Read: Banking as a Service- Extended Arms of Traditional Banking

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