National Bank of Iraq Goes Live with Temenos

The National Bank of Iraq (NBI), a member of the Capital Bank Group, has transitioned to Temenos core banking and payments systems, marking a significant step towards enhancing operational efficiency and customer experience. The implementation allows NBI to unify its platform with other entities within the Capital Bank Group, streamlining operations and facilitating quicker integration of new services.

NBI, with 27 branches across Iraq, offers a comprehensive range of financial services to individuals and businesses. As a majority-owned subsidiary of Capital Bank since 2005, NBI’s transition to Temenos reflects a broader effort to modernise the banking group’s infrastructure. The move aligns NBI with other Capital Bank Group entities, including Capital Bank of Jordan, Bank Audi, Société Générale Bank Jordan, and NBI Saudi Arabia, which are already on the Temenos platform.

One notable achievement in this transition is NBI’s adoption of Temenos Payments. This upgrade enabled the bank to process over 100,000 domestic and international payment transactions within the first 15 days of operation, achieving a 99% straight-through processing rate.

The migration to the Temenos platform was completed in under 12 months, a timeline made possible by Temenos’ pre-configured banking and payments capabilities and robust APIs. This approach minimised the need for complex customizations and was complemented by close collaboration among Temenos, NBI, Capital Bank, and delivery partner ITSS. This successful implementation earned Capital Bank recognition in the IBS Intelligence Innovation Awards, where it won ‘Best Implementation of Core Banking Services.’

NBI’s implementation follows a series of successful transformation projects with Temenos for Capital Bank. These include the launch of NBI’s branch operations in Saudi Arabia in just 45 days and the integration of Bank Audi and the former Jordanian operations of Société Générale, both completed in under four months.

These projects have contributed to a 50% increase in operational efficiency for Capital Bank within three years, resulting in significant cost savings and an enhanced customer experience. With faster, more accurate processing and immediate service responses, NBI has maintained high customer retention rates and a reputation for service excellence. This transition positions the National Bank of Iraq and the broader Capital Bank Group for continued growth and innovation in the financial services sector.

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