UAE's Reem Finance Partners With Temenos to Launch Digital Community Bank on Cloud-Based Platform

Swiss banking technology provider Temenos announced on 28 November 2024 that Reem Finance, a corporate and retail finance company licensed by the Central Bank of the UAE, had entered a strategic partnership with it to launch a new digital community bank in the United Arab Emirates. The venture would be built on Temenos' cloud-based core banking platform, delivered as software-as-a-service.

THE TEMENOS PLATFORM

The Temenos SaaS platform selected for the project integrates core banking functionality with payments processing and data analytics capabilities within a single cloud-based platform.

Temenos said the SaaS delivery would give Reem Finance faster time to market and let it scale its operations as demand grows.

FINANCIAL INCLUSION AIM

The announcement said the digital community bank aims to drive financial inclusion and innovation across the UAE by offering accessible, seamless and scalable financial solutions to individual and business customers.