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Temenos To Guide the Caribbean’s North International Bank Into Banking-as-a-Service

North International Bank (NIBank) is to leverage the Temenos banking cloud in the development of its own banking-as-a-service (BaaS) platform. 

In seeking to digitally overhaul its retail banking and private wealth business lines, the Caribbean bank, which is based in Antigua and Barbuda but also serves customers in Europe and Latin America, went live with its new technology partner Temenos this week.

Geneva-headquartered Temenos, which supports daily transactions, wealth management and lending capabilities, will provide NIBank with the cloud-agnostic technology to adapt to the latest financial trends, including BaaS.

Temenos banking cloud enables financial institutions to assemble Temenos banking services and third-party solutions with composable banking capabilities. The platform’s openness and built-in APIs will enable NIBank to create a fully integrated ecosystem of technology and financial services partners.

NIBank has cultivated a customer base around the provision of prepaid and credit cards, but its investment in the Temenos platform has allowed it to grow to 25,000 active cards today. The company has confirmed its intention to expand relationships with card giants MasterCard and UnionPay International; citing it as an essential move in the era of digital.

Describing technology investments as one of the Bank’s “top priorities,” NIBank CEO, Jordán Silva Tugues reveals that Temenos was selected “for its global leadership and expertise in serving over 3,000 financial institutions, and the flexibility to leverage the platform based on the size and needs of the bank.”

Adding to this, Tugues comments: “Modernising our technology with Temenos Banking Cloud will improve our digital customer experience, increase efficiency, and propel us to the forefront of banking in the digital era. We’re very excited at the success of the project so far, and where we will go next.”

Enrique Ramos O’Reilly, Managing Director – Latin America and the Caribbean, Temenos
Enrique Ramos O’Reilly, Managing Director – Latin America and the Caribbean, Temenos

Enrique Ramos O’Reilly, Temenos’ managing director for Latin America and the Caribbean, comments: “Disruptive technologies and changing customer demands have led to an unbundling of the banking value chain. 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.”


  • Tyler is a fintech journalist with specific interests in online banking and emerging AI technologies. He began his career writing with a plethora of national and international publications.

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