Having established itself as a leading automotive finance provider in Mexico, Volkswagen Financial Services (VWFS) planned a move into banking. To launch VW Bank Mexico, VWFS looked for a platform to support the growth of its core automotive finance business, as well as enabling new retail banking products. Impressed by the prospect of a rapid deployment, VW Bank chose Temenos T24 Transact solution, and integrated the platform with its ERP and payment systems to ensure compliance with fast-moving local regulations. With Temenos, VW Bank has greatly expanded its portfolio with loans, savings and investment products, and increased vehicle finance agreements from 30,000 to 50,000.
“We have ambitions in the market. We have new customers and new products. We could not have done this without the Temenos technology platform from which Volkswagen Bank has received nothing but innovation and support that enables us to venture further in our markets.”Oscar Dominguez, General Secretariant
“The flexibility that the Temenos T24 Transact platform offer, permits us to interface with SAP systems that we use today as part of our Core System, in addition to our electronic payments system, which the Bank of Mexico requires us to use.”Juan Ramon Rangel, Head of Applications Management Support