Somalia’s privately owned Islamic bank, Sombank has selected the Temenos Islamic Banking solution in the cloud to help with the country’s economic growth,and create innovative products to increase access to financial services in Somalia.
This partnership will enable Sombank to accelerate digital transformation and offer a unified banking experience to customers in branch and online. It will reduce time and cost in deploying digital banking products designed to increase access to financial services to all Somali speaking populations.
Garad Khalif. Nor, CEO, SomBank, stated,“We are excited to partner with Temenos to deliver next-generation digital experiences to Somalian customers. We selected Temenos because of its worldwide reputation, cutting-edge technology, and regional expertise in Africa. While we are a relatively new bank, Sombank has big ambitions to play a significant role in rebuilding the country’s financial infrastructure by improving access to financial services throughout Somalia and beyond. Implementing the Temenos banking platform in the cloud will allow us to achieve rapid time to value for new digital products and the cost savings to fulfil this vision.”
Jean-Paul Mergeai, Managing Director – Middle-East & Africa, Temenos, commented,“We are delighted that Sombank has selected Temenos Islamic Banking to advance its digital banking strategy. Temenos has a strong presence in Africa and a track record helping Islamic Banks with their digital transformation. For over 20 years, Temenos has been empowering the Islamic finance community with flexible and innovative Shari’ah compliant solutions that are specifically designed to improve customer experiences. Sombank has challenged itself to be the leading Islamic Bank in the region and this implementation is a big step forward as it embarks on this exciting new phase of its journey.”
Currently, Sombank serves customers via branch and online network and representative offices throughout Somalia. Sombank will use the Temenos Infinity digital front office to create a unified customer experience for all financial and non-financial services across all channels, helping its staff serve customers faster in branch and online.
