Egypt’s MIDBANK Completes Core Banking Modernization With Temenos

Temenos (SIX: TEMN), a global leader in banking technology, today announced that MIDBANK has successfully gone live with Temenos, completing a full replacement of its legacy systems with Temenos’ core banking suite. This strategic transformation is part of MIDBANK’s broader initiative to modernize its operations and deliver next-generation banking services to customers across Egypt

MIDBANK, a 50-year-old financial institution based in Egypt, selected Temenos following a comprehensive evaluation process. The implementation includes Temenos Core, Payments Hub, Financial Crime Mitigation (FCM), and Data Hub. The go-live followed a ‘big bang’ approach, with the legacy system decommissioned and the Temenos platform activated in a single transition.

Amr El-Garhy, CEO & Managing Director of MIDBANK, commented: “We turned off the light on one system, and turned on the light on another. It was a bold decision, but we were well prepared. Temenos was attentive at the moments that really mattered. They stayed close to the project and showed genuine commitment to our success. Powered by Temenos, MIDBANK is well-positioned to shape the future of digital banking in Egypt.”

The transformation has already delivered measurable benefits, including reduced transaction processing times, improved operational efficiency, and enhanced customer satisfaction.

MIDBANK is also preparing to launch digital channels with Temenos Digital and explore AI-driven innovations using Temenos tools, including the Temenos Product Manager Copilot.

Santhosh Rao, Managing Director – Middle East & Africa, Temenos, commented: “MIDBANK’s successful go-live is a strong example of how Temenos helps financial institutions modernize with confidence. Our proven delivery capability, combined with our innovative and adaptable platform, enabled a smooth and timely transition. MIDBANK is now equipped to deliver modern, efficient, and customer-centric banking services.”

Temenos’ proven track record in Egypt, local presence, and strong ecosystem of partners were key to the project’s success. Key partners included ITSS for implementation and DXC for testing.

This initiative supports Egypt Vision 2030 and the Central Bank of Egypt’s digital agenda, reinforcing MIDBANK’s role in advancing financial inclusion and sustainable economic development.