Prema Consulting is a FinTech services provider for the banking and finance sector in the Middle East and North Africa. We specialize in core banking and digital banking transformation.
Prema Consulting helps banks, financial institutions and FinTech companies in the Middle East modernize the technology they run on. Our work covers the full lifecycle of a banking platform: assessing legacy systems, implementing a new core banking system, launching digital channels, and operating the platform after go-live.
Our largest practice is core banking transformation on Temenos Transact (T24), including new implementations, upgrades, data migration and regulatory configuration. Our digital banking practice builds mobile and web banking on Temenos Infinity, covering UX/UI design, backend development and API integration. We also implement Temenos Payments Hub (TPH) for payments processing and Temenos Financial Crime Mitigation (FCM – AML) for anti-money laundering compliance.
We are headquartered in Amman, Jordan, and have an office in Baghdad, Iraq. Over more than ten years, our team of 90+ consultants has delivered 30+ projects for 20+ financial institutions in the region. We are a certified Temenos partner, and our information security management system is certified to ISO/IEC 27001.
As a certified Temenos partner, we cover the four Temenos platforms banks in MENA rely on most: core banking, digital channels, payments and financial crime compliance.
The core banking system for accounts, deposits, lending and the general ledger. We implement, upgrade, customize and migrate data to Transact, and operate it after go-live.
The digital banking platform behind mobile and web channels. We design and build retail and corporate journeys, covering UX/UI, backend development and API integration.
A single platform for processing domestic and cross-border payments, including SWIFT, RTGS, ACH and instant payments. We implement TPH and integrate it with the core banking system and local payment schemes.
Anti-money laundering and compliance controls: sanctions and watchlist screening, transaction monitoring and customer risk profiling. We implement FCM so banks meet central bank AML/CFT requirements.
Banks in the Middle East and North Africa face a combination of regulatory, customer and technology pressures. These are the main reasons they modernize their core banking and digital banking platforms.
Central banks across the Middle East have introduced instant payment systems, such as CliQ in Jordan. Banks need core and digital platforms that can post transactions in real time, 24/7, rather than in end-of-day batches.
Regulators including the Central Bank of Bahrain and the Saudi Central Bank (SAMA) have published open banking frameworks. These require banks to expose secure, standardized APIs, which is difficult on legacy cores without an integration layer.
Remote account opening with electronic identity verification, biometrics and digital signatures is now expected by customers. It must still meet each country's anti-money-laundering and know-your-customer rules.
Many banks in the region offer Sharia-compliant products such as Murabaha, Ijara and Mudaraba. Core banking platforms must model these contracts correctly alongside conventional products.
Customer channels need full Arabic support, including right-to-left layouts, while reports and statements must follow local regulatory formats.
Banking regulators set strict rules on information security, outsourcing and where customer data may be stored. Partners handling bank data are increasingly expected to hold certifications such as ISO/IEC 27001.
Review the legacy system, products, integrations, data quality and regulatory obligations, and define business goals.
Choose the migration approach (full replacement, phased or progressive), define the target architecture and plan the program.
Configure products and accounting on the new core, develop local customizations, and build integrations with payment systems and channels.
Map, cleanse and convert legacy data, run several rehearsal migrations, and reconcile every balance and account.
System, integration, performance and user acceptance testing, including regulatory reports and Close of Business (COB) runs.
Final migration, reconciliation and switch to the new platform, followed by close support during the first business cycles.
Ongoing managed services: monitoring, COB operations, performance tuning, upgrades and continuous improvement.
Learn how we shorten each stage in our delivery approach.
Offices in Amman, Jordan and Baghdad, Iraq, serving banks across the Middle East and North Africa.