Libya’s ATIB Assaraya bank to use Temenos cloud platform in its digitalization drive
By Sami Zaptia.
London, 27 February 2020:
Libya’s private sector Assaray Trade and Investment Bank (ATIB), known locally as Assaraya bank, is to use Temenos cloud banking platform as part of its ongoing digitalization process. This will be used to replace its core banking system, improve its retail and corporate banking and accelerate its digital transformation.
The software will provide preconfigured country-specific functionality to help ATIB meet regulatory requirements and business practices.
In December ATIB introduced biometric identification as part of its electronic Know Your Client/Customer (e-KYC) system. It claimed that it is the first bank in Libya to introduce biometric identification.
The system will use fingerprint and facial recognition technology which it says does away with the need for paper-based signatures. It assures the public that all its data will be encrypted and saved in secure databases.
The bank said that the new service is part of its overall digitalisation process that it has launched in 2019 to have all its banking services digitalised by 2022. It says that the most important element of digitalisation is the verification (KYC) of customers and that biometric identification is the cornerstone of any digitalisation project. The bank adds that biometric identification guarantees 100 percent safety.