Temenos platform will help the bank instantly process payments from any channel. Credit: Firmbee.com on Unsplash.

ADCB Egypt has selected Temenos’ open platform to enable next-generation digital payments for composable banking.

Temenos said that its platform will allow the bank to support real-time payment processing from any channel, local or international.

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The bank, which is part of Abu Dhabi Commercial Bank Group, aims to compose payment solutions for conforming to new global standards including ISO20022 and SWIFT GP.

These solutions are also expected to support new instant and cross-border payment services.

To automate its treasury management lifecycle, the bank will build digital banking solutions that incorporate advanced core banking capabilities.

Temenos EMEA-APAC president Jean-Paul Mergeai said: “ADCB Egypt is always keen upon embracing the latest technologies and partnering with the best service providers.

“This new step of our existing collaboration with Temenos will empower the bank’s internal systems as the new instant payments solutions.

“The technological upgrades will always keep us ahead in offering our customers the best-in-class service quality and comply with regulatory directives.”

Temenos Payments on Temenos open platform is said to help ADCB Egypt automate its front, middle and back-office capabilities.

Designed to eliminate the use of a different system for varied payment business types, the Temenos Payment is a comprehensive platform for payment execution.

The platform will help ADCB Egypt implement new payment offerings including instant payments and request-to-pay with reduced cost, stated the vendor.