Iraq’s National Bank of Iraq Selects Temenos for Banking Compliance Software Solutions

Modernizing Financial Services through Strategic Partnership

In a significant move to revamp its financial services, Iraq’s National Bank of Iraq (NBI), a key component of the Capital Bank Group, has partnered with Temenos, a leading Swiss-based software company specializing in banking and finance solutions. The partnership aims to transform NBI’s legacy systems into a unified core banking and payments platform, enhancing operational efficiency, accelerating product development, and improving customer service capabilities across the Capital Bank Group.

Seamless Transition to Advanced Banking Software Solutions

The implementation of Temenos’ robust banking software solutions has enabled NBI to achieve a seamless transition from outdated systems in less than a year. This successful collaboration marks NBI as the first bank within the Capital Bank Group to adopt Temenos Payments, significantly enhancing its transaction processing capabilities.

Quotes from Key Stakeholders

Izzidin Abusalameh, Chief Operations Officer at NBI

“We have seamlessly transitioned the National Bank of Iraq to a cutting-edge core banking system which will not only enhance operational efficiency but also support providing our customers with a superior digital banking experience. Our continued partnership with Temenos has not only provided us with an advanced technological platform but has also facilitated a culture of flexibility and adaptability, enabling us to execute our ambitious growth plans.”

Lee Allcorn, Managing Director for Middle East & Africa at Temenos

“Congratulations to National Bank of Iraq and the Capital Bank team on this successful implementation that gives NBI business agility and the same modern technology platform and ability to deploy fast with pre-configured banking capabilities as the rest of the group. With Temenos, Capital Bank Group is future-ready, and we are proud to support them as they continue to innovate and leverage our platform to grow sustainably and enhance the banking experience for customers.”

Conclusion

The strategic partnership between NBI and Temenos marks a significant milestone in the bank’s efforts to modernize its financial services. The successful implementation of Temenos’ advanced banking software solutions has enabled NBI to achieve operational efficiency, accelerate product development, and improve customer service capabilities, positioning the bank for future growth and success.