Kingdom Bank, a specialist bank in the UK, has gone live with new software supplied by Temenos. It has implemented Temenos Core, Payments and Financial Crime Mitigation solutions on a Software-as-a-Service (SaaS) basis, running on the Microsoft Azure cloud.
The vendor says its platform has replaced “siloed legacy systems” at Kingdom Bank, enabling it “to streamline operations, reduce manual processes and scale efficiently”.
Temenos’ tech integrates with the bank’s third-party systems, including its clearing partner, resulting in "near-real-time clearing and an improved payments experience for customers”, Temenos adds.
The bank has also launched online and mobile banking capabilities in early October. “For the first time, all Kingdom Bank customers – including church, charity and business customers – can access and manage their accounts digitally,” it states on its website.
Kingdom Bank has been serving the UK Christian community for nearly 70 years. It offers savings accounts to customers who want their banking choices to reflect their Christian values, and provides mortgages to churches, charities, and ministry workers.
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“Kingdom Bank has a long history of helping UK churches secure affordable mortgages. By depositing their savings with us, our customers make this lending possible,” comments Pod Bhogal, the bank’s chief market officer.
“Our partnership with Temenos marks a major milestone in our journey, giving us a flexible, modern banking platform with proven capabilities to support our continued growth and help us better serve our customers,” he says.
Earlier this year, another specialist bank in the UK – Reliance Bank – also migrated to Temenos SaaS.
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