Ghana’s ‘mini’ Central Bank for Rural & Community Banks opts for cloud-native, cloud-agnostic Temenos Infinity and Temenos T24 Transact
GENEVA, Switzerland, — Temenos (SIX: TEMN) (www.Temenos.com), the banking software company, today announced that ARB Apex Bank has chosen to renew its contract with Temenos to continue its mission to provide banking and non-banking services for Ghana’s Rural and Community Banks (RCB’s) and their customers. Using Temenos banking software, ARB Apex Bank serves over six million customers with almost seven million accounts, processing an average of 220,000 daily transactions and empowering Ghanaians with modern day financial services.
The bank, which acts as the “mini” central bank for Ghana’s RCBs, connects 144 rural and community banks in Ghana, totaling 700+ branches. ARB Apex Bank has opted for Temenos Infinity, the breakthrough digital banking product and Temenos T24 Transact, the next generation core banking system as well as a host of additional solutions including Risk and Compliance and Temenos Payment Hub.
ARB Apex Bank was recently recognized as part of the “Best in Banking Awards” held at the Temenos Community Forum in The Hague in April 2019 and awarded the “Best Inclusive Banking” prize. This award recognizes ARB Apex Bank for delivering a truly customer-centric experience and for passing on its operating costs efficiencies to its end-customers in the spirit of financial inclusion.
Established in Ghana in 2000 and receiving its banking license in 2001, ARB Apex Bank became a Temenos client in October 2009. The bank currently has 11 branch offices throughout the country and hosts over 140 Rural and Community Banks (RCBs) on a private cloud, run from their premises in Accra, Ghana.
Kojo Mattah, Managing Director ARB Apex Bank, said: “It is our desire to use technology-enabled products to support our member banks in becoming customer-centric organizations with innovative, value-added services for their customers. With Temenos banking software, we gain operational efficiencies and we can offer seamless and compelling banking experiences. We want our customers to feel confident and proud to walk into the banking halls of our RCBs and receive outstanding products and services”.
Jean-Paul Mergeai, Managing Director Middle East & Africa at Temenos, said: “I am delighted to announce the continuation of our longstanding relationship with ARB Apex Bank. We have worked together for almost 10 years now and we look forward to extending our relationship. Temenos cloud-native, package and functionally rich offering which is also tailored for the needs of inclusive banking will help the bank towards its admirable vision of increasing customer satisfaction and offering access to financial services to the broader population. .
Temenos has actively sought to grow and strengthen our team in the region significantly over the past number of years as well as expanding our footprint with financial institutions of all sizes from Central and Tier 1 banks, to microfinance organizations. We now serve 157 customers across 35 countries in Africa, all of whom receive the same world-class Temenos software regardless of their size”.
Distributed by APO Group on behalf of Temenos.
Media Contact:
Jessica Wolfe
Temenos Global Public Relations
Tel: +1 610 232 2793
Email : press@temenos.com
Alistair Kellie & Andrew Adie
Newgate Communications on behalf of Temenos
Tel: +44 20 7680 6550
Email: allnewgatetemenos@newgatecomms.com
About Temenos:
Temenos AG (SIX: TEMN) (www.Temenos.com), headquartered in Geneva, is the world’s leader in banking software, partnering with banks and other financial institutions to transform their businesses and stay ahead of a changing marketplace. Over 3,000 firms across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 500 million banking customers. Temenos offers cloud-native, cloud-agnostic front office and core banking, payments, fund management and wealth management software products enabling banks to deliver consistent, frictionless customer journeys and gain operational excellence. Temenos customers are proven to be more profitable than their peers: over a seven-year period, they enjoyed on average a 31% higher return on assets, a 36% higher return on equity and an 8.6 percentage point lower cost/income ratio than banks running legacy applications. For more information please visit www.Temenos.com.
SOURCE
Temenos
