North International Bank (NIBank) has gone live with Temenos to digitally transform its retail banking and private wealth business lines.
Based in Antigua and Barbuda, NIBank serves customers in the Caribbean, Latin America and Europe. Temenos’ Banking Platform will provide NIBank with flexibility, agility and the latest cloud agnostic technology to adapt to new and developing trends such as banking-as-a-service (BaaS). Leveraging a forward-looking strategy and Temenos’ expertise in working with BaaS providers like Green Dot, Vodeno and Mbanq, NIBank can create new sources of revenue through banking and non-banking partnerships.
As part of its mission to boost economic growth and provide innovative financial services, NIBank has built a robust customer base around prepaid and credit cards. NIBank’s investment in technology including the Temenos platform has allowed it to grow to 25,000 active cards today, with plans to expand relationships with global card giants MasterCard and UnionPay International.
Temenos Banking Cloud supports daily transactions, wealth management and lending, and enables financial institutions to assemble Temenos banking services and third-party solutions with composable banking capabilities. The platform’s openness and built-in APIs will enable NIBank to create a fully integrated ecosystem of technology and financial services partners.
Jordán Silva Tugues, CEO of NIBank said: “Modernising our technology with Temenos Banking Cloud will improve our digital customer experience, increase efficiency, and propel us to the forefront of banking in the digital era.”
Enrique Ramos O’Reilly, Managing Director – Latin America and the Caribbean, Temenos, said: “Disruptive technologies and changing customer demands have led to an unbundling of the banking value chain. The rise of embedded finance means banking no longer needs to happen within a bank. With Temenos, NIBank can offer banking services through retailers and other companies while continuing to build upon its direct customer relationships.”