State-owned Egyptian lender Housing and Development Bank (HDB) has replaced its in-house legacy systems with Temenos Core banking UniversalSuite to support its growth plans.
The implementation included the training of over 1000 bankers, and transferring the data for 1.5 million customers of the bank.
The project was implemented within two years by Temenos' Egyptian partner Masaref.
HDB offers retail as well as corporate banking services in Egypt through its branch network of 64 across the country.
HDB chairman Fathy El Sebai said: “With our ambitious expansion plans, deploying state-of-the-art technology was becoming an imperative. Now, with Temenos banking solutions in place, we can deliver our growth strategy and increase our customer base through enhanced customer experience and new product development capabilities.”
Temenos Middle East & Africa managing director Jean Paul Mergeai said: “By selecting Temenos to underpin its system transformation, Housing and Development Bank is leveraging technology that will allow them to streamline processes for much higher business efficiency, better compliance, faster customer service, as well as achieve better integration across different business units.”