NEWS
Temenos to expand digital payments portfolio
Temenos , the banking software company , has announced that Saudi Arabian digital wallet , STCPay , has selected cloudnative , cloud-agnostic Temenos Payments and Temenos Transact running on a private cloud to achieve exponential growth and expand its digital payments capabilities .
Real-time , API-first Temenos Transact and Temenos Payments will provide a single , digital platform on which STCPay can rapidly create and update innovative digital services for retail customers .
Using Temenos ’ cloud and microservicesbased technology to power innovation and transform customer journeys , STCPay aims to double its customer base by 2021 . Longer-term , the business aims to establish itself as the leading digital challenger in the Middle East and Africa ( MEA ). STCPay , a subsidiary of STC Group , is Saudi Arabia ’ s largest and leading mobile wallet app . Launched in late 2018 by STC , the digital challenger aims to provide new , innovative technologies and digital payment experiences to customers and facilitate transactions that are quick , easy , and secure .
Ahmed Alenazi , CEO , STCPay , said : “ We are excited to partner with Temenos and unlock the vast opportunities of digital payments in the Middle East . Temenos brings to this partnership 20 years ’ experience deploying advanced banking software and delivering next-generation digital experiences in Saudi Arabia . With Temenos ’ market-leading technology and rich banking functionality , we aim to redefine payments , offering outstanding digital experiences that integrate into our customers ’ lifestyles .”
stc announces first 5G standalone deployment in MENA
Saudi-based telco stc has announced the first deployment of 5G standalone ( SA ) and 5G voice over new radio ( VoNR ) service in live network .
The development will enable stc to deploy enhanced data and voice services over an agile , cloud native , next generation end-toend 5G network .
According to stc , the 5G SA core network is an outright paradigm shift in the way the world looks at networks as it provides the ability to not only provide very high data throughput but also ultra-low latency , along with highest possible service availability .
With these 5G deployments , stc will be able to build a powerful and secure digital ecosystem , where enterprises and consumers can benefit from more innovative services tailored to their exact needs .
Eng Haithem Alfaraj , SVP , Technology and Operations , stc , said : “ New 5G services will continue to be top priorities for our customers . We are very proud of our continued technological push to reinforce stc ’ s leading position in the region .
“ We believe this is just the beginning of our digital service innovation . stc is determined to bring to market the most advanced technologies and solutions , to deliver total Digital Transformation .”
The 5G enabled Voice Service ( VoNR ) is the latest evolution of voice call solution that offers 5G users true high definition voice and video calls on a 5G SA network , without the need for the classical fall back to a 4G LTE network .
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