Temenos has recently stated that Baiduri Bank, a leading financial service provider in Brunei has collaborated with Temenos for its core banking on Temenos Banking Cloud. Following the collaboration, Baiduri Bank has turned out to be one of its kind banks in Brunei operating its core banking platform with a cloud platform utilizing SaaS.
Baiduri Bank caters to a wide range of customer segments including MSMEs, corporate, retail, and institutional clients as well. This is a pioneer in offering digital-first experiences, also providing a comprehensive suite of digital solutions consisting of a mobile banking application and devoted business digital banking services.
Ti Eng Hui, Chief Executive Officer, Baiduri Bank, stated, “Since 2020, we have embarked on a digital transformation journey with the aim of leveraging technology to elevate operational efficiency, analytical capabilities and ultimately, customer experience. Our core banking project, a strategic investment will be the next, and most significant milestone in this journey.”
Once Baiduri Bank will switch to Temenos modern SaaS on Microsoft Azure will allow them to provide enhanced customer services and tailored services in less time and cost. Temenos core banking is being implemented for enhanced core banking services, financial crime mitigation (FCM), and data analytics to strengthen corporate banking, finance, retail, and wealth management services.
This partnership will enable Baiduri Bank to gradually innovate its IT infrastructure via a composable banking strategy to implement services in less time, and cost. Furthermore, Baiduri Bank plans to expand its services beyond banking.
Craig Bennett, Managing Director – APAC, Temenos, commented, “We are proud to welcome Baiduri Bank as our latest regional partner to the Temenos Banking Cloud. Given our depth of expertise in composable banking, we see strong take up from banks big and small across the region as they look to modernize their technology stack and benefit from the flexibility and agility of a SaaS platform.”
Read: Temenos Opted by Garanti BBVA to Streamline Core Banking