In adopting the Temenos platform for core processing and payments, ZainCash will be enabled to accelerate how it develops and launches digital services.
Furthermore, it comes at a time when customer demand for cashless payments is continuing to accelerate.
Yazen Altimimi, Chief Executive Officer, ZainCash, commented: “We chose to partner with Temenos because we needed an open and agile banking platform that would allow us to innovate and scale at speed.
“We are committed to investing in the best technology, and with Temenos, we can deliver a world-class payment experience that meets our customers’ growing needs and expectations. With Temenos, we can lead the way in making payments safer, simpler and more convenient for all Iraqis.”
ZainCash is licensed by the Central Bank of Iraq to provide integrated electronic financial services. Currently, it offers P2P transfers, bill and merchant payments, disbursements, recharge digital products and other consumer and merchant services.
Jean-Paul Mergeai, President, APAC-EMEA, Temenos, added on this collaboration: “We are delighted ZainCash has selected Temenos to scale its digital payment services. This pioneering FinTech company joins many of the largest and most innovative financial services companies in the Middle East and across the world that run on Temenos.
“Iraq is mainly cash-driven today, but with a population of 40 million, including a large young and tech-savvy demographic, there is a huge untapped potential for payment digitization. Temenos has a strong presence in the region and deep local expertise to support ZainCash as it continues to build and grow its business.”