Banco de la Nación del Perú goes live with Temenos
Latest news
Banco de la Nación del Perú goes live with Temenos 17 March 2022United Kingdom Reporter: Jenna Lomax
Image: christian vinces
South American bank, Banco de la Nación del Perú has gone live with Temenos, the banking software company.
Powered by Temenos Banking Cloud, Banco de la Nación del Perú plans to create more than 24 million accounts to deliver financial relief funds for South America in response to the ongoing COVID-19 pandemic.
As of 14 March 2022, more than 1.66 million people have died due to COVID-19 in South America and the Caribbean.
In the first phase of Temenos’ implementation, Temenos Banking Cloud supported the opening of two million new digital accounts called Cuentas DNI.
These accounts were created with the identification number (DNI) of each citizen, as part of the Yanapay Individual Economic Support programme to provide government relief funds in response to the pandemic.
Every Peruvian citizen, age 18 and older, with a DNI is automatically allocated a Cuentas DNI, fostering financial inclusion. Of the two million people who received a Cuentas DNI, more than 1.8 million previously did not have a bank account.
Banco de la Nación del Perú has approximately 570 branches, 60 per cent of which are located in remote areas of the country. Only 52 per cent of adults in Peru have a bank account, according to data from the Peruvian National Household Survey.
With the Temenos open platform Banco de la Nación del Perú will be able to scale massively, launch new products quickly and modernise other lines of business, the bank says.
Liliana Casafranca, account leader for Cuentas DNI at Banco de la Nación del Perú, comments: "This is the beginning of Banco de la Nación’s modernisation towards digital banking that will allow us to create more than 24 million accounts, and deliver financial inclusion to Peruvians. Our aim is to develop the right partnerships to make our services more accessible to clients. Banco de la Nación's vision is for the Cuentas DNI to become the gateway to more sophisticated services to Peruvians."
Enrique Ramos O’Reilly, managing director of Latin America and the Caribbean at Temenos, says: "We are proud to partner with Banco de la Nación del Perú. Temenos' open platform will enable Banco de la Nación to scale massively and handle millions of accounts in order to provide financial services for those currently operating outside the financial system. We look forward to supporting Banco de la Nación del Perú in its digital transformation to provide outstanding banking services and promote financial inclusion to the people of Peru."
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: christian vinces 