Banking software company Temenos has announced that specialist trade finance bank IIG Bank has successfully gone live with Temenos Infinity, the digital front office product, and Temenos T24 Transact. The bank also selected the Financial Crime Mitigation module, which is integrated within Temenos T24 Transact. The implementation of Temenos banking software will enhance the quality of customer service, support product agility and help the bank gain operational excellence.
For the first time, IIG Bank – a specialist corporate institution providing savings products, trade loans and documentary credit facilities – can offer its corporate customers differentiated services. This includes enhanced treasury cash management, deposit accounts and increasingly tailored lending to clients, as well as a wider range of documentary credit and trade finance functionalities. Through this, the bank aims to grow and expand its product offering, and bring products to market quickly, so that it can capitalize on increasing business opportunities from Malta with a global reach.
With Malta’s economy expected to grow by 5.2% of GDP in 2019, according to European Commission forecasts, and with the country’s Prime Minister calling for an increase in the number of banks and banking opportunities available to customers, the financial services sector is becoming increasingly competitive.
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