Temenos’ core banking solution was chosen for its comprehensive functionality in retail and corporate banking. Credit: T. Schneider/Shutterstock.

Reem Finance has partnered with software provider Temenos to launch its new digital community bank in the UAE.

This initiative is part of Reem Finance’s strategy to drive digital transformation and offer improved banking services.

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The decision to select Temenos’ core banking solution was influenced by its functionality for both retail and corporate banking.

Temenos chief revenue officer William Moroney said: “We have a strong presence in the Middle East, expertise in cloud banking and a track record of client success across the region.

“By leveraging Temenos’ cloud-based platform, Reem Finance is well-positioned to deliver next-generation financial services and continue its mission to drive financial inclusion and innovation across the UAE.”

Temenos’ cloud-based service, offered as Software-as-a-Service (SaaS), is expected to help Reem Finance rapidly scale operations in response to increasing demand and support expedited time to market.

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The solution will also assist Reem Finance in meeting compliance needs with built-in tools and localised features.

Reem Finance CEO Seraj Faidi said: “Temenos’ cutting-edge SaaS platform will enable us to rapidly innovate and scale up, deliver exceptional customer experiences, and stay ahead of the curve in a fast-moving market.

“The cloud-based Temenos solution has a pivotal role in our tech stack, and it enables us to connect across infrastructure and manage the most critical customer and business data.”

Recently, Temenos launched on-premises generative AI with NVIDIA to deliver real-time data insights for banks.