Midbank Modernises with Temenos in Bold Core Banking Overhaul
Egypt’s Midbank completes a full “big bang” core banking transformation with Temenos, improving processing times, efficiency, and overall customer experience significantly.
A Bold Move Towards Modern Banking
Egypt-based Midbank has successfully transitioned to Temenos’ advanced core banking platform in a single “big bang” implementation approach. This bold shift completely replaced its outdated legacy systems with modern digital banking solutions, delivering enhanced operational efficiency and improved customer satisfaction across its services. Furthermore, this move aligns with Egypt Vision 2030, supporting the Central Bank’s ambitious digital transformation agenda.
The Complete Temenos Suite Deployment
The bank implemented Temenos Core, Payments Hub, Financial Crime Mitigation (FCM), and Data Hub in one synchronized go-live event. This approach minimized transition delays, helping Midbank adopt an entirely new core banking foundation swiftly. According to Midbank’s leadership, the implementation aimed to future-proof services, reduce reliance on old infrastructure, and embrace advanced fintech capabilities.
Amr El-Garhy, CEO and Managing Director of Midbank, described the decision as courageous yet necessary for sustainable growth. He stated that Temenos stayed closely involved, demonstrating strong commitment to ensuring the project’s success despite potential challenges.
Collaboration and Local Expertise Ensured Smooth Delivery
Temenos’ strong presence in Egypt significantly contributed to the successful rollout. With an established office and experienced local partners, implementation risks were effectively reduced. ITSS acted as the primary implementation partner, while DXS handled critical testing phases, ensuring a seamless transition for Midbank’s operations.
The bank had evaluated multiple solutions before selecting Temenos. Ultimately, the decision was driven by Temenos’ proven track record with leading Egyptian banks, including AAIB, Banque du Caire, and CIB. This reassured Midbank’s leadership that the chosen core banking platform could deliver reliable results.
Immediate Measurable Benefits for Midbank
Since the go-live, Midbank has already experienced clear improvements in transaction processing speed and overall operational efficiency. Customers have reported smoother banking experiences, thanks to faster service delivery enabled by the new platform.
Additionally, Temenos’ technology has strengthened risk management by reducing vulnerabilities tied to outdated systems. The Financial Crime Mitigation module ensures better fraud detection and compliance, a critical factor in modern core banking operations.
These immediate gains demonstrate the strong value of digital modernization for established banks seeking competitive advantages in Egypt’s evolving financial landscape.
Next Steps in Digital Transformation
With the core systems now upgraded, Midbank is preparing to launch advanced digital banking channels powered by Temenos Digital. These new channels will expand customer access to services, offering faster and more secure online interactions.
Furthermore, Midbank is evaluating AI-powered tools such as Temenos Product Manager Copilot. These innovations are expected to help create smarter, data-driven product strategies and improve personalized banking experiences for retail, SME, and corporate clients.
This forward-looking strategy showcases how banks in Egypt are accelerating toward digital-first operations to meet changing customer expectations and market demands.
Supporting National Digitalization Goals
Midbank’s technology modernization aligns strongly with Egypt Vision 2030, which emphasizes financial inclusion and improved digital financial services. By embracing core banking upgrades, the bank supports the Central Bank of Egypt’s goals of enhancing competitiveness, reducing inefficiencies, and enabling secure digital transactions nationwide.
This transformation also reflects broader regional trends, where traditional banks increasingly partner with leading fintech providers to overcome technological constraints and deliver superior customer experiences.
A Long-Term Growth Strategy
Founded 50 years ago, Midbank has established a solid reputation in Egypt’s banking sector, serving retail, corporate, and SME clients. Its recent rebrand from Misr Iran Development Bank to Midbank in 2021 signaled a focus on modernization and growth.
By adopting Temenos’ platform, the bank positions itself for long-term scalability and innovation. This new core banking infrastructure supports future expansions, enabling Midbank to introduce new services and digital products more rapidly than before.
Industry experts believe this move will help the bank compete more effectively in a market where speed, digital offerings, and customer-centric solutions are increasingly vital for success.
Conclusion
Midbank’s bold shift to Temenos’ core banking platform marks a critical milestone in its ongoing digital transformation journey. The “big bang” go-live approach demonstrates confidence in technology-led change, delivering immediate benefits in speed, efficiency, and customer satisfaction. As Midbank continues to launch new digital channels and explore AI-driven tools, it strengthens its role in shaping Egypt’s modern banking future.
