Seizes market share and challenges multi-national players
San Salvador, El Salvador
Banco Azul started in 2015 as the first real local bank in El Salvador. Its goal was to challenge the foreign-owned finance giants who dominate the banking market with superior service and products. To achieve this and support its growth, Banco Azul uses Temenos Transact. The platform enables the bank to bring products to market rapidly and manage thousands of customer accounts. In a short space of time, Banco Azul has onboarded 46,000 customers and now manages 29,000 loans—and with Temenos on its side, it is well on its way to seizing 5% of the banking market in El Salvador by 2020.
”We are very satisfied at Temenos Transact and we are thankful to Temenos for the support we have received for the past 3 years, which we visualize, will continue along with our strategy towards the future.”Oscar Armando Rodriguez, Executive Director