Financial news

Lesha Bank, an investment bank based in Qatar, has successfully migrated to the latest Temenos core banking platform. The strategic move aims to strengthen the bank’s wealth management and investment banking services.

As a long-standing client of Temenos, Lesha Bank’s migration to the latest core banking platform signifies its transition to modern API-driven, cloud-native technology.

This transformation also grants the bank access to Temenos’ cutting-edge banking capabilities, along with the extensive offerings available within the Temenos Exchange ecosystem.

The latest platform equips Lesha Bank with the necessary tools to streamline its operations, particularly in the realm of offering innovative Shari’a-compliant investment opportunities. It also accelerates the bank’s digital initiatives, with a focus on personalisation driven by data and artificial intelligence (AI).

Temenos provides the bank with a standardised migration approach, leveraging proven methodologies and tools. The migration also enables Lesha Bank to harness new functional capabilities, reducing the need for local customisations.

For instance, the bank has successfully transferred its SWIFT processing, including securities settlement, to the core banking system, utilising the latest securities components as standard. This move translates to improved functionality, significantly enhancing Straight Through Processing and transaction processing efficiency.

Mohammed Al Emadi, CEO of Lesha Bank, expressed his delight at the successful system modernisation, stating: “To be live on the new platform so quickly is a huge achievement and a giant leap forward for the bank. Temenos propels our system towards the most advanced core technology with best-in-class banking and payments capabilities.”

William Moroney, MD for Middle East and Africa, Temenos, also added: “We are proud to support Lesha Bank and their vision to become a global leader in Shari’a-compliant banking. On the latest Temenos banking platform, Lesha Bank can keep on creating innovative and relevant products quickly and efficiently, and also leverage a modern architecture to take advantage of cloud opportunities for the future.”

Lesha, the first independent Shari’a-compliant bank authorised by the Qatar Financial Centre Regulatory Authority (QFCRA), is a listed entity on the Qatar Stock Exchange.