Digital transformation and product development service firm Orion Innovation has joined forces with Africa and Gulf Bank (AGB) to modernise the latter’s banking products and services.
Under the terms of the agreement, Orion Innovation will deploy Temenos’ cloud-based core banking platform into Africa and Gulf Bank’s operations.
This will transform the bank’s product portfolio to bring tailored, digital-first banking solutions to customers.
Orion Innovation’s array of digital services and technological solutions are said to enable banks to overhaul legacy systems, devise inventive products, and seize emerging business prospects.
According to the digital transformation and product development service firm, the deal with Africa and Gulf Bank is significant to it as the company grows its global presence into the Middle East and Africa regions (MEA).
The new digital transformation deal comes after its engagement with Philippines-based Cebuana Lhuillier Bank to drive the latter’s transformative path towards financial inclusion and modernised banking services.
Orion Innovation financial services global head Anoop Gala said: “We are thrilled to embark on AGB’s core modernisation programme. Our comprehensive offerings around Temenos, coupled with our regional presence in the MEA, position us well to ensure a successful core banking transformation.
“This partnership will accelerate AGB’s Digital First initiative and support its strategic growth plans.”
Based in Sudan, Africa and Gulf Bank is a banking and financial services corporation that offers tailored and innovative financial solutions backed by advanced technology.
The bank is owned by regional investors and governed by an eight-member board of directors.
Africa and Gulf Bank CEO Nadeem Lodhi said: “Africa and Gulf Bank has developed an ambitious roadmap based on innovative retail, digital and wholesale banking products and services which include critical capability enhancements like instant onboarding, automated AI-based approvals, straight-through-processing and digitised workflows.”
Additionally, Lodhi emphasised that by advancing its ‘Digital and Agency First’ approach and the implementation of Temenos Transact and Infinity will empower Africa and Gulf Bank to cultivate resilient banking services for Sudanese citizens, both domestically and abroad.
