AIBK joins six other Egypt-based banks already using T24. As well as signing for T24, AIBK has signed for Insight, Temenos business intelligence product and Treasury Trader, Temenos trading platform, along with Islamic Banking and accounting and compliance products.
AIBK Egypts purchase of Temenos products is part of its expansion plans in Egypt, which include increasing the number of branches from 13 to 18 over 2014 and increasing its market share within deposits, loans, finance companies, as well as developing and financing SMEs and providing retail banking and Islamic products. Temenos software will also allow AIBK Egypt to achieve IFRS and FATCA compliance.
In recent news, Temenos has launched its new payments hub dubbed Temenos Payment Suite (TPS).
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