Fintech
Iraqi fintech ZainCash goes live with Temenos
Temenos announced that ZainCash, a payment services provider in Iraq, has launched Temenos core banking and payments to fuel the growth of its digital payment services.
The successful implementation is in line with the strategic objectives of the Iraqi government and central bank to promote financial inclusion and accelerate the digital transformation of the national economy. Positions ZainCash to expand its operations more effectively, improve customer experience and rapidly introduce new products.
ZainCash has expanded rapidly, reaching over 1.2 million app downloads. ZainCash allows users to make quick and easy local and international transfers, pay local merchants and government services, manage funds with a convenient multi-currency card (physical or virtual), as well as enjoy a variety of bonus features such as digital vouchers.
ZainCash’s network of 10,000 agents ensures that these financial services are available everywhere in Iraq
With Temenos, ZainCash has brought together its core banking and payments capabilities on Temenos’ flexible and composable banking platform, which allows for easy integration with existing internal systems, as well as with the Central Bank of Iraq. The robust and agile platform will allow the company to expand rapidly to meet growing consumer demand as it aims to reach 3 million users by the end of the year.
ZainCash will use Temenos’ modern technology architecture with open APIs, to quickly launch a range of new services, including instant lending, and provide customized products for specific groups, such as families and students. It will also offer a digital and seamless onboarding process resulting in a better user experience.
The Temenos platform will help ZainCash continue to broaden financial inclusion by extending convenient digital financial services to more communities, including Iraq’s large unbanked population.
Yazen Altimimi, CEO of ZainCash, commented: “Temenos’ open and agile banking platform allows us to innovate and scale quickly, delivering a world-class payments experience that meets the growing needs and expectations of our customers. With Temenos, we can more easily expand our product range and provide more personalized services as we continue to lead the way in making payments safer, simpler and more convenient for all Iraqis.”
“Iraqi fintech ZainCash goes live with Temenos” was originally created and published by International electronic paymentsa trademark owned by GlobalData.
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