Temenos Looks to Boost Fintech in Egypt with AUC Venture Lab Fintech Accelerator Partnership
By JD Alois / Crowdfund Insider
Fintech software provider Temenos (SIX: TEMN) has partnered with The Venture lab at The American University in Cairo (AUC Venture Lab) a prominent startup accelerator in Africa and the MENA region. Temenos will support Fintech innovation in Egypt by providing startups with access to their core banking solution to be used as their development environment.
Temenos says they will provide a sandbox service to the startups utilizing the accelerator. This sandbox, a non-production cloud-based version of the T24 core banking system, will enable startups to integrate their solutions with banking data and functionality as well as to test them for scalability and robustness. It will also allow them to plug into the 11 major financial institutions in Egypt already running Temenos T24.
It is envisaged that the AUC Venture Lab would play host to Temenos events, such as the upcoming “Meet the Marketplace” in October.