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Oman Housing Bank selects Temenos for core banking upgrade

Wednesday, 3rd April 2024 | Core banking, News

Oman Housing Bank (OHB) has tapped Swiss vendor Temenos to modernise its core banking platform.

OHB taps Temenos for its core banking solution

The Omani bank is replacing its legacy system with Temenos’ cloud-native platform as it looks to launch new card and deposit products.

The vendor has tasked its partner, Systems Ltd, with implementing the microservices-enabled solution via the Oman Country Model Bank.

Lee Allcorn, Temenos’ regional MD for the Middle East and Africa, explains that by leveraging the Swiss firm’s “pre-configured, localised capabilities”, OHB stands to gain from an improved loan origination process and a “faster time to value as it seeks to bring affordable housing finance to more Omanis”.

Established in 1977, OHB provides government-subsidised housing loans, focusing on the low and medium-income groups of Omani citizens, with the bank claiming to have approved over 2,000 housing loans during the first half of 2023.

OHB joins a growing cohort of global financial institutions to implement Temenos’ banking solutions, including Lithuania’s Šiaulių BankaVietnam International Bank, and most recently Metrobank in the Philippines.