press release

North International Bank (NIBank) Implements Temenos Transact with SG NewTech to Unleash Innovation

North International Bank (NIBank) in Antigua and Barbuda has completed its Temenos Transact Core banking implementation project in partnership with SG NewTech, an IT company that helps financial institutions implement, deploy and integrate the banking platform of the future. NIBank holds an International Banking license and offers private banking, and MasterCard and UnionPay card issuing services.

NIBank’s implementation of Transact was prompted by the need to move to a modern, modular, and scalable core banking system that is capable of integrating with the bank’s service providers and in-house developed systems. 

The installation which was completed in record time was deployed to run serverless architecture on Amazon AWS cloud with full redundancy, thereby allowing the bank to achieve operational and cost efficiency from day one.

NIBank chose SG NewTech as the implementation partner after careful consideration of available options. The readiness of SG NewTech to adapt to the pandemic reality was part of the reason for the choice.  With the project signed in the last quarter of 2019 and the implementation planned around March 2020, both teams had to embrace a new paradigm – remote project delivery.  The success of this project made it the first cloud-based, serverless implementation of Temenos Transact that was delivered completely virtually with team members working from different countries.

Watch the video about NIBank’s success story told by their VP of Information Technology, Jonathan Barrios:

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