Temenos has announced that Saudi Export-Import Bank (Saudi EXIM Bank) has implemented its core banking platform to boost operational and financial efficiency. 

Going live in six months, Temenos’ integration makes it faster for businesses to access trade finance, promoting job creation and economic growth in the Kingdom of Saudi Arabia (KSA).

The banking solutions provider’s modern and cloud-native, core banking platform was rapidly deployed as Saudi EXIM Bank worked closely with Temenos and its consultancy and implementation partners. 

William Moroney, Managing Director, Middle East and Africa at Temenos, said: “I would like to extend my congratulations to the team at Saudi EXIM Bank on their go-live with the Temenos cloud-native core banking platform. 

“To implement a new core banking system in under six months is a fantastic achievement. Temenos has a strong presence in the Middle East region with the experience of taking many of the region’s leading banks live on our platform. 

“Banks of the future need a modern, agile core with deployable components which cover all areas of banking. We look forward to seeing Saudi EXIM Bank and trade finance flourish in KSA on their new Temenos platform.”

Furthermore, Temenos’ KSA Model Bank approach offered pre-packaged functionality and best practices, which helped the bank meet its business and regulatory requirements in an effective way. 

Saudi EXIM Bank provides holistic financial services, catering specifically to the needs of businesses in KSA engaged in international trade. By implementing Temenos core banking platform, the bank can streamline its operations and automate processes increasing the bank’s operational efficiency. 

H.E. Eng. Saad Bin Abdulaziz AlKhalb, CEO of Saudi EXIM Bank, added: “Our core banking system implementation with Temenos is a step forward for Saudi EXIM Bank to be better equipped for achieving the development goals of the Kingdom’s Vision 2030. 

“It will enable faster transaction processing times, improved customer experience, and a more efficient use of resources.”