Eurobank Group has selected Temenos to accelerate digital transformation in its subsidiaries.
Eurobank Group will use Temenos Infinity and Temenos T24 Transact to improve its business agility. Furthermore, the products will also significantly lower deployment costs.
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Furthermore, the group will go forward with a full IT renovation of its subsidiaries. This will kick off first with Eurobank Cyprus.
In addition to Temenos Infinity and Temenos T24 Transact, Eurobank will also opt for Temenos’ WealthSuite. It use this solution to decrease time to market for new innovative products and services.
It will also streamline straight-through-processing for wealth management across its operations. This is directed mainly at its affiliates in Cyprus and Luxemburg that are focused on private banking.
Temenos WealthSuite is a full front-to-back integrated and digital wealth management solution. Furthermore, it is integrated with Temenos T24 Transact. The bank will also be powered by Temenos Analytics for its marketing campaigns.
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By GlobalDataAll the products run smoothly across Temenos’ cloud-native and API-first banking product.
Eurobank Temenos collaboration
Eurobank has a large digital transformation goal. The project starting at Eurobank Cyprus is just the beginning with Eurobank Private Bank Luxembourg to follow shortly.
Using API-focused technology Eurobank’s developers will be able to build applications within hours rather than weeks.
Deputy Chief Executive Officer and Group Chief Operating Officer, Stavros Ioannou, Eurobank, commented: “The cornerstone of our growth is a commitment to our customers, towards shaping advanced relationships and providing them among other things with high quality service and a vast variety of innovative and tailor made products.
“Temenos’ state of the art technology will enable our bank to build further on this commitment, placing it in the forefront of innovation and spearheading the implementation of our digital transformation journey which is a vital target for us, taking also into consideration the strong international character of Eurobank Group. We look forward to this cooperation, as this is the first stage in the wider implementation of Temenos banking software across the group.”
Managing Director, Europe at Temenos, Steen Jensen, said: “We are delighted to partner with Eurobank Group for its digital transformation project. By choosing Temenos Infinity and Temenos T24 Transact, Eurobank is implementing the most complete cloud-native, cloud-agnostic digital front office and core banking products. Temenos WealthSuite will also enable the bank to significantly enhance client engagement through its advisors and self-service digital execution.
“Using API-first technology and design-led thinking, new changes to banking software can be rolled out in hours instead of weeks. This will boost Eurobank Group’s product innovation and allow for operational excellence enabling it to thoroughly prepare for future growth and expansion.”
