ISLAMABAD: Pakistani company National Data Consultant (NdcTech) and Switzerland-based company Temenos on Thursday announced they had inked a deal to expand their market outreach in Pakistan, Saudi Arabia, UAE, Qatar, Oman, Kuwait and Bahrain.
NdcTech, a top Pakistani digital banking implementation service provider, has been operating in Saudi Arabia’s financial sector for years. It is one of the largest System Integrator and partner for Temenos in Middle East and Africa. Currently, it works with 12 banks and financial institutions in the kingdom. It is a partner of Temenos, which specializes in enterprise software for banks. Temenos and NdcTech launched a digital lending service for the Saudi Tourism Development Fund in October last year.
“NdcTech is committed to invest and develop regulatory and business specific localized functionality to enhance these Model Banks for banks of all sizes in Bahrain, Kuwait, Oman, Pakistan, Qatar, Saudi Arabia and the United Arab Emirates,” Temenos said in a statement.
According to Temenos, the agreement states that NdcTech would become a partner to upgrade services in these countries, which would enable them to seamlessly upgrade their technology stack and offer them a modernization path to a SaaS model on the Temenos Banking Cloud.
“Temenos holds a leading position in the region and boasts a raft of clients across these seven countries including some of the largest and most innovative institutions in the Middle East from Al-Rajhi Bank, to First Abu Dhabi Bank to stc pay,” the company said.
"We are delighted to be granted this license by Temenos to develop Country Model Banks in Pakistan and in the Gulf Cooperation Council (GCC) region,” Ammara Masood, CEO of NdcTech, said.
“This region is full of potential, and now we are not only driven but also equipped to extend our footprint by collaborating with leading banks in this space.”
