Cairo Amman Bank Selects T24 Core Banking System
Cairo Amman Bank, one of the largest banks in Jordan, has selected Temenos T24 (T24) to replace its legacy system and provide a scalable platform from which to drive growth across the country.
Cairo Amman offers a wide range of banking, commercial and investment services. With 170 branches and service centres servicing two million customer accounts today, the bank plans to increase the number of branches in the next five years and to expand in the region and overseas markets.
For over a decade, the bank used several different systems to run its operations. This fragmented infrastructure prevented the bank from having a single view of its business and reliance on multiple systems slowed business critical processes. By replacing five systems with T24, the bank’s total cost of ownership will be reduced by around 50%.
“As a leading bank in Jordan, our customers expect the best in products and services. We needed an end to end, 24×7, advanced and robust core banking system that would help us realise our product innovation plans and associated growth potential; T24 was the obvious choice. Furthermore the Insight product will transform the way we do business, enabling us to execute strategies based on up to date, accurate intelligence on customer trends, performance, profitability and risk. We will now be able to deliver the right products to customers at the time they need it most, effectively allocate resources and remain fully compliant with local and international regulations to deliver cutting edge performance in a competitive market,” said Kamal Bakri, general manager, Cairo Amman Bank.