NIBank has gone live on the Swiss firm’s Temenos Banking Cloud as it looks to upgrade its digital customer experience. North International Bank (NIBank) has partnered with banking tech vendor Temenos to modernize its retail banking and private wealth business lines. Temenos says its open platform provides APIs that will enable NIBank to create a “fully integrated ecosystem” of tech and financial services partners while also enabling the firm to offer a banking-as-a-service (BaaS) platform to create new sources of revenue through banking and non-banking partnerships.
The rise of embedded finance means banking no longer needs to happen within a bank. With Temenos, NIBank can offer banking services through retailers and other companies while continuing to build upon its direct customer relationships. Serving customers in the Caribbean, Latin America, and Europe, NIBank offers prepaid, debit and credit card services and claims to have grown to over 25,000 active cards. It adds that it also has plans to partner with Mastercard and UnionPay International. NIBank also offers personal accounts, business accounts and wealth management services.