ZainCash Enhances Digital Payment Services with Temenos

ZainCash, a payment service provider in Iraq and a subsidiary of March Holding, has implemented Temenos core banking and payments solutions to support its rapid growth and innovation.

By integrating Temenos’ flexible banking platform, ZainCash aims to streamline its core banking and payments operations, enabling quick scalability and enhanced consumer service. The platform facilitates easy integration with both internal systems and the Central Bank of Iraq, positioning ZainCash to reach its target of 3 million users by year-end.

Yazen Altimimi, CEO of ZainCash, emphasised the advantages of Temenos’ platform, stating, “Temenos’ open and agile banking platform allows us to innovate and scale at speed, delivering a world-class payment experience that meets our customers’ growing needs and expectations.”

ZainCash plans to leverage Temenos’ modern technology architecture and open APIs to launch new services, including instant lending and customised products for families and students. The platform will also enhance the user experience through a seamless digital onboarding process.

The implementation is part of ZainCash’s broader strategy to expand financial inclusion in Iraq, particularly among the unbanked population. The platform will also support ZainCash’s humanitarian efforts with the United Nations, enabling faster and more stable delivery of funds to refugees.

With the new system, ZainCash expects to benefit from Temenos’ sustained R&D investment, leading to faster updates and lower maintenance costs, thus reducing the total cost of ownership.

Lee Allcorn, Managing Director for the Middle East & Africa at Temenos, congratulated ZainCash on the successful implementation, stating, “We’re delighted to support this pioneering FinTech company in bringing innovative and convenient digital services to more Iraqis and continuing to widen financial inclusion in the country.”