Romania’s CEC Bank taps Temenos to power retail & corporate banking
CEC Bank, Romania’s third-largest bank, has selected Temenos to modernise its retail and corporate core banking systems.
The state-owned bank is migrating from legacy systems to Temenos’ core banking platform including best-of-breed solutions for payments and data analytics.
This transformation will enable CEC Bank to drive faster time to market, operational efficiency and business agility as it looks further to strengthen its position in the Romanian banking market.
CEC Bank chose Temenos for its comprehensive functionality across retail, corporate banking and payments on a scalable, cloud-ready platform. Temenos Payments will be used for all domestic and cross-border payments. The bank will also benefit from Temenos’ flexible, API-based architecture, to simplify integration with its existing ecosystem and accelerate innovation with third-party services.
Established in 1864, CEC Bank bank plays a key role in delivering government programs, such as the disbursement of EU funds, while continuing to launch solutions such as QR code-enabled ATM withdrawals.
The core banking and payments modernisation project will be delivered in collaboration with Tech Mahindra and SoftCentric to ensure a smooth transition and market-specific implementation.
Daniel Calin, CIO of CEC Bank, said, “Modernising our core banking and payments infrastructure with Temenos will enable CEC Bank to deliver improved products and superior experiences for our customers. Temenos offers a best-in-class core banking solution and unifying our business lines on their agile platform will help us to scale more efficiently and innovate faster as we drive the future growth of our business.”
Mark Yamin-Ali, Managing Director, Europe, Temenos, commented, “We are delighted to be partnering with CEC Bank on this strategic project, which will help one of Romania’s largest banks to streamline its operations, increase automation and deliver faster time to value. Temenos, together with our delivery partners Tech Mahindra and SoftCentric, offers a proven path for the transformation and adoption of modern banking technology. Powered by Temenos, CEC Bank is well-positioned to strengthen its leadership and drive innovation in the Romanian market.”
Source: IBS Intelligence
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