North International Bank and TEMENOS Partner to Launch Banking-as-a-Service Platform

Temenos, the world's leading open platform for composable banking, today announced that North International Bank (NIBank) has gone live with TEMENOS to digitally transform its retail banking and private wealth business lines. The TEMENOS Banking Cloud supports daily transactions, wealth management and lending.

Based in Antigua and Barbuda, NIBank serves customers in the Caribbean, Latin America and Europe. For its modernization project, the bank needed a technology partner with global expertise, multi-currency capabilities, cutting-edge technology and proven reliability.

The 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.

Jordán Silva Tugues, CEO of NIBank said:"Investing in technology has been one of our top priorities over the past few years. We selected TEMENOS for its global leadership and expertise in serving over 3,000 financial institutions, and the flexibility to leverage the platform based on the size and needs of the bank. Modernizing 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. We're very excited at the success of the project so far, and where we will go next."

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. We're delighted to work with NIBank to modernize its technology and launch it into a new phase of growth and innovation."