KARACHI: Temenos recently announced that it has signed an agreement to grant license rights to NdcTech, a wholly owned subsidiary of Systems Limited and one of its largest regional system integrators partners, to develop further and market the Temenos Country Model Banks on top of Temenos open platform for financial institutions in these seven Middle Eastern countries.

NdcTech is committed to invest and develop regulatory and business-specific localized functionality to enhance these Model Banks for banks of all sizes in Bahrain, Kuwait, Oman, Pakistan, Qatar, Saudi Arabia and the United Arab Emirates.

William Moroney, Managing Director, Middle East and Africa at Temenos, said, “We are excited to announce this agreement with NdcTech, which expands our addressable market and opens new opportunities for growth in these seven counties in the Middle East. NdcTech will invest in the Country Model Banks to accelerate our competitiveness in the region by delivering local IP such as market specific products.”

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