Temenos chosen by Cebuana Lhuillier Bank to scale the Philippines’ rural banking service
KUALA LUMPUR, (Bernama) — Temenos announced Cebuana Lhuillier Bank has selected the company to modernise its core banking platform, helping the bank, which serves seven million Filipinos, to quickly launch new banking products and scale efficiently.
According to a statement, with Temenos, Cebuana Lhuillier Bank aims to expand its product offerings and grow to more than 11 million customers over five years.
Temenos Managing Director – APAC, Ramki Ramakrishnan said: “We are delighted to welcome Cebuana Lhuillier Bank as the newest member of our Temenos family in the Philippines.
Temenos’ core banking platform gives Cebuana Lhuillier Bank flexibility and agility to manage customer accounts and transactions with greatly improved performance and efficiency, and offer personalised products, faster and at lower cost.
It means Cebuana Lhuillier Bank can introduce affordable new lending products, such as motorcycle loans, to attract new customers while also growing sustainably, and the solution will be implemented by Temenos’ delivery partner, Orion Innovation.
As a regulated financial institution, supervised by Bangko Sentral ng Pilipinas, the Temenos solution also assists the bank to adapt more easily to changing market conditions and local regulatory requirements.
While Cebuana Lhuillier Bank will initially deploy the Temenos solution in its on-premise datacentre, the cloud-native solution gives the bank the flexibility to easily migrate to the cloud in future.
— BERNAMA
