GENEVA, Switzerland – APRIL 20, 2022 – Garanti BBVA International (GBI) – part of BBVA, the global financial group with more than 80 million customers worldwide – has selected Temenos (SIX: TEMN) to modernize its core banking systems. GBI is moving to the cloud using the Temenos Banking Cloud as a system of record for its retail and corporate business in the Netherlands and Germany.
GBI is striving to become a shining example of a modern, digitalized bank. It has embarked on an intensive multi-year project that has seen the company revamp its total architecture to tap into the power of data and foster innovative ways of working. The bank has embraced a cloud-first strategy and was one of the first banks in the Netherlands to fully use the public cloud for bank processes and client databases.
The move to Temenos Software-as-a-Service (SaaS) for core banking is crucial to the bank’s digital transformation. It gives GBI the business agility and speed to improve its operations and lower costs. With composable services, API-first architecture and an ecosystem built around it, the Temenos Banking Cloud also allows GBI to bring innovation to market faster.
GBI serves retail, corporate and institutional clientele. It offers financial solutions in trade and commodity finance (TCF), corporate banking, cash management and Global Markets Sales.
Temenos banking services, including General Ledger, Accounts, Collections, Data Analytics and Payments, will underpin the bank’s entire retail and corporate banking business. Hosted on the public cloud and consumed from a self-service portal on a subscription basis will enable a radically different cost model. Empowering GBI to future-proof its IT infrastructure, move from a Capex to an Opex model and focus on growth, particularly its Global Markets Sales and TCF business.
At GBI, we have adopted a cloud-first strategy to prepare the bank for the future, transforming our services for the open, digital age. We knew we needed a next-generation core to support our growth and product innovation ambitions, and Temenos was the obvious choice. On Temenos Banking Cloud, we can connect to the financial ecosystem and bring new products to market at a lower cost to build a sustainable business and with the flexibility to adapt to new opportunities.”Marco Witteveen
COO/CIO, Garanti BBVA International
“The GBI team has a clear vision for the future of banking built on open, cloud-native architecture to drive growth with scale and efficiency. Our platform is powering a world of banking that creates opportunities for everyone. As part of the BBVA group, GBI is a pioneer setting the standard for digitization in the industry, and we’re delighted to be part of their journey.”Jean-Paul Mergeai
President – EMEA-APAC, Temenos