The latest core banking platform will enable Lesha Bank to dramatically increase the speed to market of innovative Shari’a-compliant investment opportunities
GENEVA, SWITZERLAND – EQS Newswire – 14 December 2023 – Temenos (SIX: TEMN) (www.Temenos.com) today announced that Lesha Bank, an investment bank based in Qatar has migrated to the latest Temenos core banking platform to enhance its wealth management and investment banking services.
The move enables Lesha Bank, a long-standing Temenos client, to get to the modern API-driven, cloud-native technology and to have access to the latest banking capabilities from Temenos and the Exchange ecosystem.
Running on the latest platform gives Lesha Bank the tools to streamline its processes in offering innovative Shari’a-compliant investment opportunities and accelerate its digital initiatives, with personalization driven by data and AI.
Temenos’ offers a standardized migration approach, leveraging the proven methodologies and tools to aid clients to migrate fast, smoothly and with confidence.
The move also enables Lesha Bank to leverage new functional capabilities to reduce the number of local customizations. For example, the bank has been able to move its SWIFT processing including securities settlement to core banking using the latest securities components as standard. This delivers improved functionality with a significant increase in Straight Through Processing and transaction processing time.
Mohammed Al Emadi, Chief Executive Officer of Lesha Bank, commented: “We are delighted to have completed this major system modernization with Temenos. To be live on the new platform so quickly is a huge achievement and a giant leap forward for the bank. Temenos propels our system towards the most advanced core technology with best-in-class banking and payments capabilities.”
William Moroney, Managing Director for Middle East and Africa, Temenos, said: “We are proud to support Lesha Bank and their vision to become a global leader in Shari’a-compliant banking. On the latest Temenos banking platform, Lesha Bank can keep on creating innovative and relevant products quickly and efficiently, and also leverage a modern architecture to take advantage of cloud opportunities for the future.”
Lesha Bank offers high-net-worth individuals and institutional clients a range of tailormade Shari’a-compliant investment opportunities and innovative financial solutions. It is the first independent Shari’a-compliant bank authorized by the Qatar Financial Center Regulatory Authority (QFCRA) and a listed entity on the Qatar Stock Exchange (QSE:QFBQ).
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About Temenos
Temenos (SIX: TEMN) is the world’s leading open platform for composable banking, creating opportunities for over 1.2 billion people around the world every day. We serve 3000 banks from the largest to challengers and community banks in 150+ countries by helping them build new banking services and state-of-the-art customer experiences. The Temenos open platform helps our top-performing clients achieve return on equity three times the industry average and cost-to-income ratios half the industry average.
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