Temenos, a firm specialising in enterprise software for banks, has said Lesha Bank, an investment bank based in Qatar, has migrated to the its core banking platform to enhance its wealth management and investment banking services.

 

The move enables Lesha Bank, a long-standing Temenos client, to get to the modern API-driven, cloud-native technology and to have access to the latest banking capabilities from Temenos and the Exchange ecosystem.

 

Running on the latest platform gives Lesha Bank the tools to streamline its processes in offering innovative Shari'a-compliant investment opportunities and accelerate its digital initiatives, with personalisation driven by data and AI.

 

Standardised migration approach

Temenos' offers a standardised migration approach, leveraging the proven methodologies and tools to aid clients to migrate fast, smoothly and with confidence.

 

The move also enables Lesha Bank to leverage new functional capabilities to reduce the number of local customisations. For example, the bank has been able to move its SWIFT processing including securities settlement to core banking using the latest securities components as standard. This delivers improved functionality with a significant increase in Straight Through Processing and transaction processing time.

 

Mohammed Al Emadi, Chief Executive Officer of Lesha Bank, commented: "We are delighted to have completed this major system modernisation with Temenos. To be live on the new platform so quickly is a huge achievement and a giant leap forward for the bank. Temenos propels our system towards the most advanced core technology with best-in-class banking and payments capabilities."

 

Innovative and relevant products

William Moroney, Managing Director for Middle East and Africa, Temenos, said: "We are proud to support Lesha Bank and their vision to become a global leader in Shari'a-compliant banking. On the latest Temenos banking platform, Lesha Bank can keep on creating innovative and relevant products quickly and efficiently, and also leverage a modern architecture to take advantage of cloud opportunities for the future."

 

Lesha Bank offers high-net-worth individuals and institutional clients a range of tailormade Shari'a-compliant investment opportunities and innovative financial solutions. It is the first independent Shari'a-compliant bank authorised by the Qatar Financial Centre Regulatory Authority (QFCRA) and a listed entity on the Qatar Stock Exchange.--TradeArabia News Service