Merkanti Bank Chooses ITSS Global to Drive Digital Growth and Deliver Unrivalled Protection Against Financial Crimes

06/14/2021 ITSSGLOBAL

Merkanti Bank Chooses ITSS Global to Drive Digital Growth and Deliver Unrivalled Protection Against Financial Crimes

ITSS Global, Geneva, Switzerland: 14 Juin 2021

Malta’s Merkanti Bank Ltd (a subsidiary of Merkanti Holding plc) selected ITSS for their digital evolution, implementing award-winning Temenos Transact solution. The bank’s growing user base will be further protected with cloud based Temenos Financial Crime Mitigation (FCM), which will be integrated into the bank’s core banking and payments architecture.

This strategic alliance will be a part of the bank’s digital evolution program into a modern, scalable system that drives digital growth. This decision was taken to align with new business lines after its two-time acquisition. With this implementation, Merkanti Bank will attain an impressive level of automation through its entire operations resulting in a major efficiency gain for the whole bank while greatly improving the customer experience and preventing fraudulent operations. This partnership will be powered by integration with TAS Group payment solutions, ITSS’s esteemed partner.

This association of Implementation of Temenos Transact R20 will see continued improvement in functionality to support rapid development and launch of new products, allowing the bank to promptly respond to market and customer demand. Thus, providing unrivalled levels of detection and resilience against financial crime.

In response to this news,

Selvakumar Ammayappa, Director – Banking Services of ITSS Global stated “We are delighted by this collaboration and to take part in the success journey of Merkanti Bank. This collaboration further strengthened our relationship with them. With the state-of-the-art Temenos R20 core-banking system, FCM regulatory tool and the TAS Group payment solution, the bank can offer new products and services for the client. This will help them meet the highest requirements for speed, security, compliance and convenience.”

Patrick Vella, Chief Information Officer of Merkanti Bank expressed that “We feel satisfied and confident with our decision to choose ITSS as partners. We are confident of their expertise in T24 implementations across the globe, and they have demonstrated a high understanding of our requirements for this project. This project will support the future business development and digitization of the bank.”

ITSS Global is committed to deliver this implementation with the highest levels of services and consulting.

About Merkanti Bank:

Merkanti Bank Ltd (formerly MFC Merchant Bank Ltd) is a credit institution licensed by the Malta Financial Services Authority and is focused primarily on merchant banking services, trade finance and general corporate banking services. The Bank forms part of Merkanti Holding plc, which is a financial entity group registered in Malta and has a bond listing regulated by the Malta Stock Exchange.

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