Canadian Tire Bank (CTB) is one of the largest card issuers in Canada, with more than 2 million customers, over $6B in receivables, and was recently ranked second in JD Power’s Canada Credit Card Satisfaction Study. CTB selected Temenos open platform for composable banking to replace its legacy systems and focus on launching a new set of digital-only offerings. Temenos will help power the bank’s growth by delivering faster to market and richer digital experiences, boosting customer engagement, and bottom-line revenue.
Supported by Temenos’ open platform, CTB will advance its digital banking capabilities and further integration across Canadian Tire Corporation’s (CTC) retail brands and 11 million active loyalty members, leveraging physical and digital assets to capture the value of its channels. The new banking platform is part of CTC’s Better Connected strategic growth plan to invest in its omnichannel customer experience. Temenos’ open platform will help Canadian Tire Bank drive its digital-first strategy to enhance customer acquisition, loyalty, and engagement.
“CTC’s plan for growth and customer engagement is hinged on the continued creation of best-in-class digital experiences and innovative products and services. By investing in Temenos open platform, we will enhance our core banking system to create a modern, cloud-native, digital-first platform supporting our transformation and growth agenda. These advancements will enable us to drive integration across our retail brands and Triangle Rewards loyalty program—offering a truly differentiated banking experience to better serve our customers and fulfil our Brand Purpose of Making Life in Canada Better.”Aayaz Pira, President, Canadian Tire Financial Services and CEO, Canadian Tire Bank