Reem Finance selects Temenos to power digital community bank in the UAE

By Gloria Methri

Reem Finance, a corporate and retail finance specialist, has selected Temenos to power a new digital community bank in the United Arab Emirates.

The move to Temenos’ cloud-based solution is part of Reem Finance’s broader strategy to embrace digital transformation and enhance its service offerings. The new digital community bank will empower Reem Finance to deliver faster, more flexible banking services that meet the growing needs of a diverse and dynamic customer base.

Reem Finance chose Temenos’ core banking solution for its comprehensive retail and corporate core banking functionality with robust localisation and built-in tools. This will enhance the bank’s capability to address its compliance requirements. The cloud-based solution will be delivered as Software-as-a-Service (SaaS), enabling Reem Finance to achieve accelerated time to market and scale its operations efficiently as demand grows.

Temenos’ core banking, payments and data analytics solutions will enable Reem Finance’s new Digital Community Bank to provide a range of financial products to individual and business customers while optimising banking processes to reduce cost and risk.

Seraj Faidi, CEO of Reem Finance, said, “The cloud-based Temenos solution has a pivotal role in our tech stack. It enables us to connect across infrastructure and manage the most critical customer and business data. This collaboration will help us transform the way banking services are delivered in the UAE, with a focus on providing accessible, seamless, and scalable financial solutions to both retail and corporate customers.”

William Moroney, Chief Revenue Officer, Temenos, said, “Temenos is proud to support Reem Finance in launching their new digital community bank. 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 is well-positioned to deliver next-generation financial services and continue its mission to drive financial inclusion and innovation across the UAE.”