National Bank of Iraq uses Temenos for core banking and payments

Baghdad (IraqiNews.com) – In an effort to improve customer satisfaction and accelerate the development of new offerings, the National Bank of Iraq is currently active with Temenos core banking and payments.

As a member of the Capital Bank Group, the National Bank of Iraq (NBI) will keep offering its clients, citizens, and companies in Iraq a wide range of safe and reliable services. The financial institution was able to abandon its dated infrastructure thanks to the enhanced interface and connectivity.

“This achievement marks a significant milestone in our digital transformation journey and positions us as a leading player in the banking industry,” said Izzidin Abusalameh, Chief Operations Officer at Capital Bank Group. “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.”

In its first 15 days of operation, NBI executed over 100,000 inward and outgoing domestic, local, and international payment transactions thanks to its adoption of the Temenos Payments solution. By utilizing Temenos’ pre-configured banking and payment features and its APIs, which were utilized to lessen the requirement for intricate customizations, the transaction period was finished in less than a year.

“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,” said Lee Allcorn, Managing Director – Middle East & Africa at Temenos.

With 27 locations around Iraq, NBI provides individuals as well as businesses with a wide range of financial services.