Sahara Bank chooses NdcTech for their Core Banking Transformation to Temenos Transact

Case Study

Sahara Bank in Libya, a retail and commercial bank, has selected NdcTech to successfully implement the Temenos Transact core banking solution for their systems across the entire network.

About the Bank

Created in 1964 and recognized as the second largest public bank in Libya, Sahara Bank has a network of 48 branches covering all the main regions in the country and has a team of more than 1500 experienced experts. Sahara Bank is one of the leading banks in Libya that has developed a large portfolio in both Corporate and Retail Banking. The bank is committed to meet its customer expectations through a modern set-up of core business lines like Institutional banking, Corporate Banking, Retail banking and Islamic Banking.

Challenges

Due to unrest in the country in 2011, the BNP Paribus group, a major stakeholder of Sahara Bank divested its stake in the bank. Subsequently, the bank had to adopt a modern banking solution on its own and break away from the legacy system, therefore it selected Temenos and NdcTech because of Temenos’ excellent track record with other banks in the country, such as Libyan Qatari Bank, the strength and roadmap of the Transact system, and the proven expertise of NdcTech to deliver despite any challenges.

Implementation

The project was planned to be implemented over a two-year period in three phases. The first phase focused on retail banking functionality, the second on corporate banking functionality and the third on internet banking and AML. Islamic banking functionality was also implemented keeping in consideration the pressure on banks to offer shariah compliant services to their clients.

Potential in Libya

There has been an expectation of more core banking contracts in Libya for a couple of years and Ammara Masood, president of NdcTech, believes that the Sahara Bank deal fits this trend. ‘There are about eight banks in the pipeline which are looking at converting their core banking systems,’ she says.

Jean-Paul Mergeai

Jean-Paul Mergeai

President | APAC and MEA, Temenos

We are seeing a lot of potential, Five new Transact deals including Sahara Bank, Société Générale de Banque au Liban, and The National Bank in Palestine were signed in the first half of 2014 in the region

Benefits to the bank

The transition of Sahara Bank to Temenos Transact platform was a major stepping stone for the bank towards a modern and digital future in the industry. The promising system enables the bank to achieve its long term aim to be an all-rounder bank in Libya offering innovative services to its clients. The new system will optimize the banks’ process flows and harmonize their IT department to speed up digitization while saving operation and IT costs. The overall standardization of processes and products will bring in efficiency setting the bank on the journey towards sustainable future growth.

Ammara Masood

Ammara Masood

CEO and President | NdcTech

There has been an expectation of more core banking contracts in Libya for a couple of years now, There are about eight banks in the pipeline which are looking at converting their core banking systems.

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