BACB and Temenos Team Up to Implement Corporate Suite Software Solution

Temenos, a banking and finance software provider, has confirmed that it is implementing its software at British Arab Commercial Bank (BACB), the London based provider of trade finance and treasury services to Africa and the Middle East.

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Cost Reduction

BACB selected Temenos’ CorporateSuite, which includes digital channels, Temenos Connect and Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term for corporates, Insight BI, to replace its existing legacy system.

David Hamilton-Brown, CIO, BACB, commented: “An integrated architecture will ensure a holistic view of our data and at the same time reduce our costs base in this highly competitive banking environment. Temenos offers an excellent fit for our product offering and provides an improved opportunity for digital delivery to our client.”

Temenos offers an excellent fit for our product offering and provides an improved opportunity for digital delivery to our client.

By aligning its technology with the bank’s business strategy, BACB is seeking to reduce IT costs and streamline processes to support its plan for sustainable revenue growth in developing countries in Africa and Middle East.

The system replacement project will result in most of the bank’s current legacy systems and platform components being replaced with the Temenos CorporateSuite solution, which offers the flexibility and Scalability Scalability Scalability is a term that describes the constraints of a network via hash rates to meet increased demand. In the context of Bitcoin, scalability reflects the issue in which a limited rate can process transactions adequately.Blocks within the Bitcoin blockchain are limited in both size and frequency. The overall transaction processing capacity of the network is dictated by the average block creation time of 10 minutes as well as a block size limit of 1 megabyte. Consequently, this leads to pain Scalability is a term that describes the constraints of a network via hash rates to meet increased demand. In the context of Bitcoin, scalability reflects the issue in which a limited rate can process transactions adequately.Blocks within the Bitcoin blockchain are limited in both size and frequency. The overall transaction processing capacity of the network is dictated by the average block creation time of 10 minutes as well as a block size limit of 1 megabyte. Consequently, this leads to pain Read this Term required by BACB to address the diverse needs of their clients in developing markets.

David Arnott, CEO of Temenos, said: “By selecting Temenos CorporateSuite to underpin its system transformation, BACB is leveraging Temenos’ broad experience in supporting financial institutions in developing countries with scalable, cost effective, localised banking solutions. With Temenos technology BACB is well placed to sustainably support the needs of its clients, while maximising the business growth opportunities in facilitating trade finance between developing markets and Europe.”