Oman Housing Bank selects Temenos for core banking upgrade

KARACHI: Oman Housing Bank has selected Temenos to modernise its core banking capabilities in the cloud. With Temenos, OHB will be able to operate more efficiently, streamline processes and develop innovative new products faster on a highly scalable, cloud-native platform.

The bank will replace its existing legacy platform with Temenos core banking running on the cloud as a key part of its digital transformation project, which aims to diversify the range of products the bank can offer to new and existing customers.

The solution will be implemented by Temenos certified partner Systems Ltd using the Oman Country Model Bank, which will allow OHB to leverage pre-configured banking capabilities tailored to the local market that will enable faster, more cost-effective implementation.

The bank will also benefit from Temenos’ continued investment in its single code base and experience of working with 3000 banks across 150 countries.

Established in 1977, OHB, in the first half of 2023, the bank approved over 2,000 housing loans with a total value of over 86 million Omani Rials (USD 223m).

The microservices-enabled solution will support straight-through processing and faster response times, while allowing the bank to further enhance its capabilities.

Copyright Business Recorder, 2024