Temenos (SIX: TEMN) has signed a Multi-Country Model Bank development agreement with Bahwan CyberTek (BCT), focusing on enhancing financial services across several Asian markets, including Bangladesh. This collaboration aims to provide financial institutions in Bangladesh with advanced localized banking solutions, leveraging Temenos' cloud-native technology and BCT’s expertise in digital transformation.
The agreement enables BCT to further develop and market Temenos Country Model Banks, which offer pre-configured, country-specific banking functionalities that allow institutions to go live more quickly while minimizing risks and costs. In addition to Bangladesh, this initiative will also serve financial institutions in Sri Lanka, Nepal, Cambodia, the Philippines, and Taiwan.
BCT is set to play a crucial role as Temenos' preferred upgrade partner for banks in Bangladesh, helping local financial institutions modernize their operations with cutting-edge technology. This expanded partnership reflects the commitment of both companies to drive digital transformation in the region. Temenos’ Country Model Banks are designed to provide agile, scalable solutions tailored to the specific needs of each country’s financial sector.
William Moroney, Chief Revenue Officer at Temenos, expressed optimism about the partnership, stating: “We are delighted to extend our strategic relationship with BCT to provide enhanced local functionality and service capability to customers in Bangladesh. This collaboration will enable financial institutions to deliver innovative and customer-centric banking experiences with greater speed and agility while reducing operational costs.”
S. Durgaprasad, Co-founder and CEO of Bahwan CyberTek, highlighted the significance of the partnership for the region: “We are excited to collaborate with Temenos to empower financial institutions in Bangladesh and other countries to leverage the latest banking capabilities. This agreement marks a major step in providing innovative banking solutions that drive growth and enhance customer experiences.”
With this agreement, Bangladesh is set to benefit from advanced banking technology, positioning its financial institutions to lead in operational excellence and digital transformation across the sector.
