Boubyan Bank, the second largest Islamic bank in Kuwait, has selected Temenos to modernise its retail, corporate and private banking platforms.
The bank is migrating to Temenos’ core banking platform to enhance business agility and operational efficiency.
Boubyan said it chose Temenos to access the latest banking capabilities with rich Islamic banking functionality on an open, cloud-native, API-first architecture, helping the bank accelerate the introduction of new products and deliver a personalised banking experience to customers.
In addition, Temenos added that its platform is scalable to support Boubyan’s growing customer base and future growth.
Boubyan is one of the major financial institutions in the Gulf Cooperation Council (GCC), and the third largest bank in the Kuwaiti market in terms of financing portfolio and total assets.
It also has an international presence through its UK subsidiary, the Bank of London and the Middle East (BLME) and its Sharia-compliant digital bank Nomo. Boubyan also benefits from its relationship with National Bank of Kuwait, the major shareholder.
“We chose to partner with Temenos because it is the trusted banking platform for banks globally with the most advanced technology and rich Islamic banking functionality,” said Adel Abdul Wahab Al-Majed, Vice-Chairman and Group CEO, Boubyan Bank.
“Temenos gives us access to a wide range of banking services, digital capabilities, and innovative products to continue to enhance the experience, foster trust, and build long-lasting relationships with our customers.”
