First Abu Dhabi Bank goes live on Temenos T24 core system
First Abu Dhabi Bank (FAB), the entity created by the merger of First Gulf Bank (FGB) and National Bank of Abu Dhabi (NBAD), has gone live on Temenos’ T24 core banking system.
As reported in April 2017 from the Temenos Community Forum in Lisbon, the new platform is designed to support the bank’s conventional and Islamic banking operations across the board (retail, corporate, investment etc).
The 18-month implementation is now complete and is a “successful integration” of the legacy FGB and NBAD platforms onto a single new platform.
FAB, which officially completed its merger on 1 April 2017, is the largest bank in the UAE and one of the largest in the MENA region, with total assets of over AED 670 billion ($180 billion).
FGB, the smaller of the two banks, was a long-standing user of Temenos’ T24. Meanwhile, NBAD used a number of core banking system in the UAE and across international locations, including those supplied by Intellect Design Arena and Finastra (formerly Misys).
In 2011, NBAD was evaluating the TCS Bancs core banking system, supplied by TCS Financial Solutions, but the deal did not materialise, FinTech Futures understands. Meanwhile, NBAD’s subsidiary in Sudan uses Path Solutions’ iMAL.
It is understood the T24 system roll-out will be followed by international locations of FAB.