Oman Housing Bank selects Systems Limited and Temenos for core banking modernization in the cloud

KARACHI  -  Temenos has announced that Oman Housing Bank (OHB), a leading provider of housing fi­nance in Oman, has selected Temenos to modernize its core banking capabilities in the cloud.

Established in 1977, OHB plays an important role in the economic development of Oman by enabling the provision of government subsidized housing loans and helping to widen ac­cess to finance for those on low to moderate incomes. In the first half of 2023, the bank approved over 2,000 housing loans with a total value of over 86m Omani Rials (USD 223m). The bank will replace its existing legacy platform with Temenos core banking running on the cloud as a key part of its digital transfor­mation project, which aims to diversify the range of products the bank can offer to new and existing customers.

With Temenos, OHB will be able to operate more efficiently, streamline processes and de­velop innovative new products faster on a highly scalable, cloud-native platform. The microser­vices-enabled solution will sup­port straight-through processing and faster response times, while allowing the bank to further en­hance its capabilities.

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