The new service provides investors and businesses in the tourism sector with rapid access to financing solutions from TDF. The USD 4b fund was established to enable private sector tourism investments and develop the tourism sector as part of plans to diversify the Saudi economy.
The solution is powered by cloud-native Temenos Infinity digital banking platform and Temenos Transact next-generation core on the Oracle Cloud datacenter in Saudi Arabia. With Temenos’ ready-to-go features, modern microservices architecture, and a low-code environment, TDF benefits from speed, agility, and rapid time-to-market. With support from local implementation partner NdcTech, TDF was able to build and launch incrementally, going live with the first phase of the digital service in just two months. TDF provides tailored financing solutions for investors in the tourism sector with attractive financing rates. Leveraging the pre-built country-specific functions and integration of Temenos Infinity helped the Fund to shorten implementation timelines. Tourism is one of the main pillars of Saudi economic reforms.