The bank will deploy Temenos’ cloud-native core banking solution Temenos Transact to replace its legacy IT system. According to Verdict, Temenos Transact will help the bank improve its back-office operations and accelerate its three-year efficiency programme to reduce operating costs.
The AI-driven technology is said to automate and speed up the process of offering housing loans and grants to residents and municipalities.
In addition, the bank will leverage Temenos Financial Crime Mitigation (FCM) suite, which is already integrated with Temenos Transact. FCM is said to support comprehensive financial crime protection such as anti-money laundering, sanctions screening, and fraud management.
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