ITSS Global Successfully Completes Monumental Core Replacement Project for National Bank of Iraq
In a significant milestone, ITSS Global has concluded the extensive Core Replacement Project for the National Bank of Iraq (NBI), based in the capital city of Baghdad. This transformative project saw the complete overhaul of the bank’s legacy core, replacing it with the pinnacle in core banking technology, Temenos Transact.
The scale of this endeavor is underscored by the integration of the new system with 27 channels and endpoints, accompanied by the migration of data for over 222,000 customers. Notably, the implementation of Temenos Payments Hub (TPH) further solidified the bank’s position as a forward-thinking institution Taking into account that NBI manages a substantial 385,000 accounts.
Building on a longstanding history of successful collaborations, ITSS once again proved to be a trusted partner throughout this transformative journey. The ITSS team seamlessly integrated with the NBI project team, providing access to talented experts and playing a vital role in building a formation for a successful team. Recognized as an accomplished integrator, ITSS demonstrated an in-depth understanding of the bank’s ecosystem and operating model, essential for completing projects within stringent time, budget, and scope constraints.
ITSS showcased flexibility in responding to emerging changes, prioritizing project success over competing priorities. The early adoption of foundational yet niche products like “Temenos Payments Hub” required extensive engineering and customization work, showcasing the strength of teamwork, dedication, and innovative solutions.
“In such a competitive digital world, it is critical for NBI to build a modernized IT eco-system to avail customer-centric channels with a highly personalized digital experience,” stated Adel Awad, Group Chief Information and Security Officer “Our choice to partner with Temenos and ITSS has resulted in a best-in-class Core Banking System that offers a native modernized payment infrastructure alongside flawless conventional banking capabilities.”
Awad further emphasized, “The project involved migrating over 27 channels and integration points, adapting to local and regulatory requirements, a major undertaking that we achieved in record time in the world of core banking system migration projects. That was only possible with the instrumental role of our technical and project team, and the help of our trusted partners.”
Diana Mughrabi, Senior Project Manager at ITSS, expressed her enthusiasm, stating, “I am delighted to share some wonderful news! Our third significant project of the year, executed in collaboration with our esteemed clients at the National Bank of Iraq, has successfully gone live. We extend our heartfelt gratitude to the exceptional teams involved, whose collaborative efforts made possible the seamless ‘big bang’ deployment of Temenos Transact, the industry-leading core banking solution.”
About ITSS Global: With over two decades of consulting and business expertise, ITSS Global has been a stalwart in providing integrated global banking software services to financial institutions across Europe, Africa, the Middle East, Asia, and Latin America. Headquartered in Geneva and boasting 23+ global strategic offices, ITSS has played a pivotal role in helping legacy banks solidify and sustain their leadership positions by evolving core banking systems to meet ever-changing customer expectations.
