GENEVA, Switzerland--(BUSINESS WIRE)--Temenos (SIX: TEMN), the banking software company, today announced that BHD Leon has chosen to implement Temenos Transact, the next generation core banking product, as part of its digital transformation program. The implementation will be conducted in two phases, migrating business lines across retail, SME, corporate and wealth management sectors from a legacy system to Temenos’ cloud-native, API-first microservices-based platform. Temenos digital banking platform will enable the bank to provide improved digital services tailored to the customers’ needs and gain operational resilience amid the evolving COVID-19 pandemic.
BHD Leon aims to grow its customer base of 1.5 million by expanding in other countries in the region, including in Panama. The bank plans to expand its market share in underbanked populations by rolling out new products, such as credit and savings offerings to address the financial needs of women and small businesses. BHD Leon will run Temenos’ software in the public cloud to elastically scale based on its business demands.
The Dominican Republic is the largest economy in Central America and the Caribbean, and one of the most dynamic in the region. The government has invested in ongoing financial and structural reforms in order to maintain rapid growth1. As an organization deeply committed to social responsibility, BHD Leon’s contribution to creating a prosperous economy is a key initiative for the bank. The bank’s mission is to improve the world by empowering individuals and businesses, driving economic and financial growth and stability, even in uncertain times.
As part of its strategy, the bank will institute a digital transformation plan that will help BHD Leon to meet the emerging needs of clients, and the demands of innovation and financial stability. With Temenos Transact, BHD Leon will automate its back office systems and processes, and achieve tangible business results. Temenos’ cloud-native, cloud-agnostic core banking platform will provide increased scalability, and a 360-degree customer view to drive relationship banking. Temenos Transact leverages the cloud’s elastic scalability to manage millions of accounts with the lowest Total Cost of Ownership. Once implemented, the bank will be able to quickly roll out new products to market as it responds to customer needs and expands to new countries.
Steven Puig, President, BHD Leon, commented: “We are committed to being the benchmark for banks in the Dominican Republic. Our vision for digital transformation required a partner with open technology, fast time to market, and the ability to scale. We are delighted to have found a partner that shares our vision for enabling everyone, from the student; to the small business owner; to the tourist; to the large corporation, with personalized banking services for all of their needs. Temenos’ modern, open and agile technology will drive powerful change as we seek to support even more people and expand into other countries.”
Enrique Ramos O’Reilly, Managing Director – Latin America and the Caribbean, Temenos, said: “We are delighted to partner with a leading bank in Latin America on a project that will set the standard in digital banking for the region. More than ever, digital transformation is imperative for banks to address immediate priorities and build a sustainable business in the future. Temenos’ cloud-native, cloud-agnostic software will enable BHD Leon to scale and reduce time-to-market for new products and services from months to days. Temenos Transact with its API-first, microservices-based architecture, delivers to banks the richest banking functionality, unprecedented speed, scalability, and resilience. BHD Leon’s new digital banking platform will enable the bank to offer superior banking experiences and innovative services rapidly, at the pace of market demand.”
Temenos has a proven track record of helping banks to digitally transform. High-performing clients using Temenos software have achieved industry-leading cost-income ratios of 26.8% and returns on equity of 29%, three times the industry average. Temenos gives banks freedom of choice to deploy software on premise, in any public cloud, or as Temenos SaaS.
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About Temenos
Temenos AG (SIX: TEMN) is the world’s leader in banking software. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 500 million banking customers. Temenos offers cloud-native, cloud-agnostic and AI-driven front office, core banking, payments and fund administration software enabling banks to deliver frictionless, omnichannel customer experiences and gain operational excellence.
Temenos software is proven to enable its top-performing clients to achieve cost-income ratios of 26.8% half the industry average and returns on equity of 29%, three times the industry average. These clients also invest 51% of their IT budget on growth and innovation versus maintenance, which is double the industry average, proving the banks’ IT investment is adding tangible value to their business.
For more information, please visit www.temenos.com.
1 Euromoney. “Dominican Republic guide 2016: Macroeconomy”. 2016.
