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Industry Research

The USA continues to lead the way for ESG FinTech deal...

September 2, 2023

Key ESG FinTech investment stats in Q2 2023: • The United States led the way for ESG FinTech deal activity with six transactions in Q2 •...

mitiga-solutions-bags-e13m-in-bid-to-forestall-climate-disasters-with-fintech

ESG/Climate Risk

Mitiga Solutions bags €13m in bid to forestall climate disasters with...

May 19, 2023

Barcelona-based Mitiga Solutions, a climate-tech firm harnessing scientific methods and avant-garde technology to fortify resilience and adaptive capabilities against climate-related hazards, has managed to raise a significant €13.25m in a Series A round.

Côte d’Ivoire-based PayTech raises Julaya extension

B2B Payments

Côte d’Ivoire-based PayTech raises Julaya extension

September 21, 2022

Julaya, a FinTech company based in Côte d’Ivoire, has secured a $5m extension round as it looks to expand its operations in West Africa.

CyberTech

CyberTech company Devo Technology hits unicorn status

October 27, 2021

Cloud-native logging and security analytics platform Devo Technology has reached a $1.5bn valuation after the close of its Series E on $250m.

Latest Analysis

National Bank of Iraq empowers digital transformation with Temenos’ core banking system

Banking Infrastructure

National Bank of Iraq empowers digital transformation with Temenos’ core banking...

April 25, 2024

Temenos (SIX: TEMN) today announced that National Bank of Iraq (NBI), part of the Capital Bank Group, has successfully gone live with Temenos core banking and payments. NBI, which has 27 branches across Iraq, offers a comprehensive range of services to individuals and businesses in the country. Since 2005, NBI has been majority owned by Capital Bank, one of the top financial institutions operating in the Jordanian and regional markets, with assets of approximately JOD 7.6 billion[1]. With this implementation, NBI moved from its legacy systems onto the same core banking platform as other entities in the Capital Bank Group. This will enable NBI to operate more efficiently and integrate seamlessly with other systems to develop new products faster and deliver an improved customer experience. Capital Bank Group is a long-standing Temenos customer with other entities in the Group including Capital Bank of Jordan, Bank Audi, Société Générale Bank Jordan and NBI Saudi Arabia, already on the Temenos platform. NBI also becomes the first part of the group to adopt Temenos Payments, which enabled the bank to process more than 100,000 transactions of incoming and outgoing domestic and international payments in the first 15 days of operation, with a 99% straight-through processing rate. The migration to the Temenos platform for core banking and payments at NBI was completed in under 12 months thanks to Temenos’ pre-configured banking and payments capabilities and APIs which reduced the need for complex customizations, as well as close collaboration between Temenos, NBI, Capital Bank and delivery partner ITSS. This success was recently recognized in the IBS Intelligence Innovation Awards, with Capital Bank winning ‘Best Implementation of Core Banking Services'. The implementation at NBI follows several other successful transformation projects with Temenos for Capital Bank in the last few years, including the launch of NBI’s branch operations in Saudi Arabia in just 45 days, as well as the integration of Bank Audi and the former Jordanian operations of Société Générale, each of which was achieved in under four months. Collectively, these projects helped Capital Bank to increase operational efficiency by more than 50% within three years, bringing significant cost savings and an improved customer experience. With faster, more accurate processing and immediate service requests, the bank has maintained high customer retention rates and a reputation for service excellence. Izzidin Abusalameh, Chief Operations Officer, Capital Bank Group, commented: “This achievement marks a significant milestone in our digital transformation journey and positions us as a leading player in the banking industry. We have seamlessly transitioned the National Bank of Iraq to a cutting-edge core banking system which will not only enhance operational efficiency but also support providing our customers with a superior digital banking experience. Our continued partnership with Temenos has not only provided us with an advanced technological platform but has also facilitated a culture of flexibility and adaptability, enabling us to execute our ambitious growth plans.” Lee Allcorn, Managing Director, Middle East & Africa, Temenos, said: “Congratulations to National Bank of Iraq and the Capital Bank team on this successful implementation that gives NBI business agility and the same modern technology platform and ability to deploy fast with pre-configured banking capabilities as the rest of the group. With Temenos, Capital Bank Group is future-ready, and we are proud to support them as they continue to innovate and leverage our platform to grow sustainably and enhance the banking experience for customers.”

B2B Payments

Flutterwave teams up with Acquired.com to streamline outward remittances in EU...

April 25, 2024

Sublime Security secures $20m in Series A funding to enhance AI-powered email security

Email/Communication Security

Sublime Security secures $20m in Series A funding to enhance AI-powered...

April 25, 2024

Canadian FinTech firm Qohash secures $17.4m for AI data security expansion

Data Security/Data Governance

Canadian FinTech firm Qohash secures $17.4m for AI data security expansion

April 25, 2024