Africa and Gulf Bank has partnered with Switzerland-based banking software company Temenos to modernise banking in Sudan. AGB's strategy involves utilising Temenos solutions hosted on the cloud to enhance its product offerings to retail and corporate customers in Sudan and beyond.

AGB began its operations in late 2021 after acquiring the Sudan-based operations of a major Gulf Corporation Council (GCC) bank. The bank is looking to expand its portfolio with innovative Sharia-compliant products, targeting not only its local customer base but also the Sudanese diaspora worldwide. AGB's business approach centres on being customer-centric, digital-first, and providing financial services to individuals, small and medium-sized enterprises, and corporate clients through a branch-lite network.

AGB's efforts aim to promote financial inclusion, digital payment culture, and formal inward remittances. Leveraging Temenos' digital and core banking solutions, the bank wants to adapt to the evolving digital landscape in Sudan by offering contemporary financial products and services. The context of this partnership According to the official press release, Sudan has a tech-savvy population and a thriving fintech sector, providing a wide array of banking services.

With Temenos Transact and Temenos Infinity, AGB intends to create an omnichannel, multi-experience platform to engage its customers on various channels and devices, harnessing native features. Temenos' open and composable platform can equip AGB with comprehensive end-to-end banking capabilities, enhancing customer experiences, ensuring compliance, and enabling advanced analytics. The bank will be able to offer seamless and personalized digital services to its customers, both locally and abroad.

Representatives from Africa and Gulf Bank talked about investment in Temenos Transact and Infinity and emphasised that it underscores the bank's commitment to innovation. Replacing the core banking system with a cloud-native platform has the potential to improve operational efficiency and allow the bank to introduce new products and services faster to the market. Officials from Temenos expressed their enthusiasm for the collaboration, highlighting Temenos' strong presence in the region.

They also noted that the partnership with AGB would enable the bank to operate more efficiently, expedite the introduction of innovative products, and enhance the customer experience while supporting the growth of Sudan's economy. In August 2023, Temenos entered a similar partnership with Philippines-based Cebuana Lhuillier Bank to help the latter modernise its core banking platform. Through this partnership, Cebuana Lhuillier Bank aimed to swiftly introduce new banking products and efficiently scale its operations.

In addition, the bank aimed to expand its reach, targeting over 11 million customers within the next five years. .