BHD Leon, a leading bank in the Dominican Republic, is implementing Temenos Transact as part of its digital transformation program.
The implementation will be conducted in two phases, migrating business lines across retail, SME, corporate and wealth management sectors from a legacy system to Temenos’ cloud-native, API-first microservices-based platform. Temenos digital banking platform will enable the bank to provide improved digital services tailored to the customers’ needs and gain operational resilience amid the evolving COVID-19 pandemic.
BHD Leon aims to grow its customer base of 1.5 million by expanding in other countries in the region, including Panama. The bank plans to increase its market share in underbanked populations by rolling out new products, such as credit and savings offerings to address the financial needs of women and small businesses. BHD Leon will run Temenos’ software in the public cloud to elastically scale based on its business demands.
The Dominican Republic is the largest economy in Central America and the Caribbean, and one of the most dynamic in the region. The government has invested in ongoing financial and structural reforms in order to maintain rapid growth. As part of its strategy, the bank will institute a digital transformation plan that will help it to meet the emerging needs of clients, along with the demands of innovation and financial stability.
With Temenos Transact, BHD Leon will automate its back office systems and processes, and achieve tangible business results. Temenos’ cloud-native, cloud-agnostic core banking platform will provide increased scalability, and a 360-degree customer view to drive relationship banking. Temenos Transact leverages the cloud’s elastic scalability to manage millions of accounts with the lowest Total Cost of Ownership. Once implemented, the bank will be able to quickly roll out new products to market as it responds to customer needs and expands to new countries.
Enrique Ramos O’Reilly, Managing Director – Latin America and the Caribbean, Temenos, said: “More than ever, digital transformation is imperative for banks to address immediate priorities and build a sustainable business in the future. Temenos’ cloud-native, cloud-agnostic software will enable BHD Leon to scale and reduce time-to-market for new products and services from months to days. Temenos Transact with its API-first, microservices-based architecture, delivers to banks the richest banking functionality, unprecedented speed, scalability, and resilience.”