Crédit du Maroc, Part of Crédit Agricole, Selects Temenos for Digital Transformation

• Temenos prepares Crédit du Maroc for future growth by simplifying core banking systems and help the bank take products faster to market
• Temenos Transact will lower operational cost to service its customer base and grow sustainably

Temenos (SIX: TEMN), the banking software company, today announced that Crédit du Maroc, a subsidiary of Crédit Agricole, has selected Temenos to digitally transform its core banking and payments infrastructure. The core transformation project with Temenos will prepare Crédit du Maroc for the future, to deliver improved, frictionless and innovative omnichannel experience for its retail and business customers and grow sustainably.

Temenos Transact next generation core banking will provide the flexibility and agility for Crédit du Maroc to offer personalized, customer-centric products, while allowing for lower operational costs and increased return on equity (ROE). With integrated Temenos Payments, it also provides a comprehensive, universal platform for efficient payment execution and distribution.

Crédit du Maroc is one of the largest banks in Morocco with 2,500 staff. It is a universal bank and recognized as a major player in the retail, corporates, and more recently, agricultural and agro-industry sectors. The bank’s affiliation with the Crédit Agricole group gives it a key commercial edge, offering its customers a global approach and the expertise of an international group.

Temenos’ modern API-first technology will enable Crédit du Maroc to make it easier and faster for retail and business banking customers to manage their accounts and cards, make deposits and send payments as well as accelerate time-to-market for new products and services designed to enhance the digital customer experience.

With Temenos Payments, the bank will be able to scale its payment processing capability to meet ever-increasing volumes, range of channel and customer demands for increased transparency and speed of service. Temenos Payments also enables the bank to adapt quickly to new regulations and standards including ISO 20022, payment schemes such as new instant / real-time payments as well as rapidly innovate new payment services such as Request to Pay.

Yann Crispin, Transformation Deputy Managing Director, Crédit du Maroc, commented: “With Temenos we are preparing Crédit du Maroc for the future with ambitious plans to be an innovative financial player, a sustainable partner to our customers and socially responsible. Temenos’ modern technology platform will not only help to drive incredible operational efficiency it also enables the bank to accelerate time to market for new products. In a highly competitive market for financial services, Temenos gives us the edge and ensures we deliver the highest levels of customer satisfaction and attract new customers to drive growth.”

Alexa Guenoun, Chief Operating Officer, Temenos, said: “Temenos is proud to partner with Crédit du Maroc on this exciting transformation project. Temenos has a strong track-record with banks in the region and more than 10 years of investment in the Morocco market. It means that we are able to support Crédit du Maroc with an experienced team that has a deep understanding of the local banking requirements. Crédit du Maroc has clear focus and with Temenos it is set to drive innovation in the market and make banking better for individuals and business in Morocco.”

About Temenos
Temenos AG (SIX: TEMN) is the world’s leader in banking software. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 1.2 billion banking customers. Temenos offers cloud-native, cloud-agnostic and AI-driven front office, core banking, payments and fund administration software enabling banks to deliver frictionless, omnichannel customer experiences and gain operational excellence.
Temenos software is proven to enable its top-performing clients to achieve cost-income ratios of 26.8% half the industry average and returns on equity of 29%, three times the industry average. These clients also invest 51% of their IT budget on growth and innovation versus maintenance, which is double the industry average, proving the banks’ IT investment is adding tangible value to their business.
www.temenos.com