Banco de la Nación del Perú Goes Live With Temenos to Accelerate Financial Inclusion With 2 Million New Accounts
Banco de la Nación del Perú went live with Temenos (SIX: TEMN), the banking software company. In the first phase of the implementation, Temenos Banking Cloud supported the opening of two million new digital accounts called Cuentas DNI. With Temenos’ scalable open platform the bank plans to expand to 24 million accounts.
These accounts were created with the identification number (DNI) of each citizen, as part of the Yanapay Individual Economic Support program to provide government relief funds in response to the COVID-19 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% of which are located in remote areas of the country. One of the bank’s key objectives is to promote financial inclusion through sustainable and modern business practices. Only 52% of adults in Peru have a bank account, according to data from the National Household Survey (ENAHO) and collected by the SBS. In response to the pandemic, the Peruvian government has launched special programs to distribute funds to the most vulnerable populations, using Cuentas DNI, which has facilitated the payment of one of these bonds to millions of unbanked Peruvians.
With the Temenos open platform for composable banking, Banco de la Nación del Perú will be able to scale massively, launch new products quickly and modernize other lines of business. The operational cost efficiencies will enable Banco de la Nación to offer its customers better benefits such as lower fees.
Liliana Casafranca, account leader from Cuentas DNI at Banco de la Nación del Perú, commented, "This is the beginning of Banco de la Nación’s modernization towards digital banking that will allow us to create more than 24 million accounts, and deliver financial inclusion to Peruvians. The challenge is to quickly develop enhancements that will encourage citizens to make greater use of their cellphones to carry out secure financial transactions, through Cuentas DNI. 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 in Latin America and the Caribbean, Temenos, "We are proud to partner with Banco de la Nación del Perú. This is just the beginning of what we will create together. 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."
– Ends –
Temenos AG (SIX: TEMN) is the world’s leader in banking software. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 1.2 billion banking customers. Temenos offers cloud-native, cloud-agnostic and AI-driven front office, core banking, payments and fund administration software enabling banks to deliver frictionless, omnichannel customer experiences and gain operational excellence.
Temenos software is proven to enable its top-performing clients to achieve cost-income ratios of 26.8%, half the industry average, and returns on equity of 29%, three times the industry average. These clients also invest 51% of their IT budget on growth and innovation versus maintenance, which is double the industry average, proving the banks’ IT investment is adding tangible value to their business.
For more information, please visit www.temenos.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
Jessica Wolfe & Scott Rowe
Temenos Global Public Relations
Tel: +1 610 232 2793 & +44 20 7423 3857
Alistair Kellie & Andrew Adie
Newgate Communications on behalf of Temenos
Tel: +44 20 7680 6550
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
HCL and UNLEASH Partner to Develop Solutions for Aquatic Ecosystem Conservation20.5.2022 17:59:00 CEST | Press release
HCL Group and UNLEASH, a global innovation program for the UN Sustainable Development Goals (SDGs), announced a year-long collaboration to mobilize youth and develop innovative solutions to promote aquatic ecosystem conservation. These solutions will aim to tackle challenges from Source (mountains & glaciers) to Sink (oceans and seas) and their links to terrestrial ecosystems. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220520005178/en/ Nature and ocean conservation play a critical role in our survival. Terrestrial and aquatic ecosystems provide us with food, water, oxygen, energy, and medicines. They regulate our climate, provide pollination to crops, and reduce the impact of natural hazards. Despite the vital importance of our planet’s ecosystems, we are experiencing a human-caused deterioration of our natural habitats: human activity has altered almost 75% of the Earth’s terrestrial surface, squeezing wildlife and natu
Tecnotree utses till Årets förändringsskapare av Helsingforsbörsens stiftelse20.5.2022 17:24:00 CEST | Pressmeddelande
Tecnotree, en teknikleverantör från Esbo, utses till Årets förändringsskapare. Företaget har bidragit till att leverera europeisk-finsk innovation för att driva på tillväxten i framväxande marknader. Dess 5G-färdiga digitala produkter och lösningar, som har tagits väl emot globalt i Europa, Latinamerika, Mellanöstern, Afrika samt Asien och Stillahavsområdet, är avgörande för att ge telekomsektorn och dess kunder avancerad digital kapacitetstillgång till viktiga digitala tjänster över hela världen inom hälso- och sjukvård, utbildning och betalningstjänster. Detta pressmeddelande använder multimedia. Se den fullständiga versionen här: https://www.businesswire.com/news/home/20220518005762/sv/ Tecnotree Padma Ravichander and Minna Heusala of the Stock Exchange Foundation at the Stock Exchange Gala on May 17, 2022. Picture taken by Tuomas Pietinen. (Photo: Business Wire) ”Förändring och omvandling utgör själva kärnan i vår verksamhet. Under det senaste decenniet har vi infört en intern kult
PPG Showcases Innovations in Paints, Coatings, Specialty Materials That Enhance Sustainability, Efficiency, Mobility20.5.2022 14:00:00 CEST | Press release
PPG (NYSE:PPG) today showcased its latest innovations to media at its production and research and development (R&D) facility in Amsterdam. The event focused on advancements in three key areas – sustainability, efficiency and mobility – reflecting the company’s goals of helping customers lower costs, reduce their environmental footprint and support the global shift to electric vehicles (EVs). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220520005101/en/ PPG showcased its latest innovations to media at its production and research and development facility in Amsterdam on May 20. The event focused on advancements in three key areas – sustainability, efficiency and mobility – reflecting the company’s goals of helping customers lower costs, reduce their environmental footprint and support the global shift to electric vehicles. (Photo: Business Wire) Recent PPG innovations highlighted during the event include: PPG CORACHAR® batte
Ecopia AI Partners with Snap Inc. Subsidiary to Pilot 3D Map Content Integration20.5.2022 13:00:00 CEST | Press release
Ecopia AI announced today that it was selected by a Snap Inc. subsidiary to provide high-precision vector mapping data. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220520005091/en/ Sample of the 3D Vector Map of Buildings and Vegetation Generated by Ecopia AI Leveraging Airbus Imagery (Photo: Business Wire) Ecopia leverages advanced AI-based mapping systems to mine the most up-to-date commercially-available geospatial imagery, accessed through its global partner network, outputting high-precision vector maps. For this initiative, Ecopia turned to Airbus for access to their global premium 30-50cm high-resolution imagery database, which is serving as the input imagery for large-scale map content production. “Ecopia has proven their ability to deliver highly-accurate mapping data at a large-scale with unparalleled speed,” said Snap, Inc subsidiary spokesperson. “Ecopia’s mission is to digitize the world using AI, offering hi
B2Broker Announced Annual Payments for B2Core, MarksMan, and B2Trader Products20.5.2022 10:00:00 CEST | Press release
B2Broker is excited to announce that it now offers an annual payment option for the three core products: MarksMan, B2Core, and B2Trader. With the introduction of this new plan, customers will be provided with a discount and a simpler approach to planning their budget. This change will allow the company to streamline its finances and improve cash flow. The annual plan is already applicable to all three products. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220520005015/en/ B2Broker Announced Annual Payments for B2Core, MarksMan, and B2Trader Products (Graphic: Business Wire) MarksMan Whether you're a seasoned pro or just getting started in the world of digital assets, MarksMan is the perfect solution. With support for spot and perpetual futures liquidity, along with easy access to liquidity pools on major crypto exchanges, MarksMan has everything you need. There's no better time to test it out than now, with the basic packa
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom