Philippines rural bank appoints system scale-up partner

Philippines rural

Cebuana Lhuillier Bank has selected Switzerland-based banking software and cloud services provider, Temenos, to increase the efficiency of its core banking platform.

The upgrade will enhance the services currently provided to its seven-million-strong customer base including credit and savings accounts for individuals and micro, small and medium enterprises, while also looking to scale its capabilities to accommodate the financial needs of the population living in rural or remote areas.

“Cebuana Lhuillier’s commitment to financial inclusion remains steadfast,” Jean Henri Lhuillier, Cebuana Lhuillier Bank Vice Chairman, said.

“In a nation where access to reliable financial services is paramount, this collaboration strengthens our resolve to provide better services, products, and opportunities for Filipinos to create meaningful change.”

The core banking platform services provided by Temenos will allow Cebuana Lhuillier Bank to operate customer accounts and transactions with more flexibility, agility and efficiency, with the capabilities to expand its product offering to more affordable and personalised products.

“We are delighted to welcome Cebuana Lhuillier Bank as the newest member of our Temenos family in the Philippines,” Ramki Ramakrishnan, Managing Director – APAC at Temenos, said.

“With a robust presence in the country, our partnership with Cebuana Lhuillier Bank reinforces Temenos’ position as a compelling choice for banks across various sizes and segments, including rural and thrift banks.

“We are everyone’s banking platform. We eagerly anticipate supporting Cebuana Lhuillier Bank’s journey towards greater success.”

Temenos’ cloud-native banking solution will also help Cebuana Lhuillier Bank to better monitor and adapt to changing market conditions and regulatory requirements, with the potential to migrate fully to the cloud in the future.

“The financial industry is continuously evolving due to rapid technological advancements,” Dennis Valdes, Cebuana Lhuillier Bank President, said.

“Our clients’ needs are changing, and it is our responsibility to not only meet but exceed those expectations. This alliance marks as a testament to our commitment to embrace innovation and redefine the banking experience for our valued customers.”