Temenos (SIX: TEMN) announced that BanCoppel, part of Grupo Coppel, one of the largest organizations in Mexico, which includes brands such as Afore Coppel and Tiendas Coppel, has selected Temenos in order “to continue its technological transformation, driving modern banking services.”
BanCoppel was reportedly the first “to offer loans to Mexicans who had no possibility of proving their income, providing them with microloans for small purchases with store credit since 1941.”
Today, Temenos will support “the group’s vision of continuing to create a more inclusive, sustainable and socially responsible future.”
The Temenos core banking platform will “enable the bank to continue to scale efficiently, as well as offer an integrated ecosystem of easy and accessible banking services.”
BanCoppel will benefit from Temenos’ technology leadership, extensive experience in Mexico, and strong reputation with existing customers.
The implementation of this platform “will not only provide the bank with greater efficiency and sustainability, but will also support BanCoppel’s digital transformation project.”
Juan Manuel Fernández Islas, Director of IT, Digital Transformation & Operations – BanCoppel, said:
“Historically, the mass market in Mexico has been underserved by conventional banking, with much less access to credit and financial services. Our objective with this partnership with Temenos is to continue being the favorite bank of the popular class in Mexico, providing solutions that improve their quality of life. This transformation project will increase efficiency by creating an open ecosystem with easy integration through APIs, which will allow us to create easy, simple and more accessible banking services. Temenos has a proven reputation in Latin America and supports banks with a mission of financial inclusion – we look forward to collaborating together and creating a new era of banking.”
Rodrigo Silva, SVP Sales – Latin America and the Caribbean, Temenos, said:
“Banking services are becoming more and more integrated into people’s daily lives: banking itself is becoming a journey and an experience. The Temenos platform is perfectly aligned to deliver BanCoppel’s vision of creating exceptional customer experiences powered by modern technology. With Temenos, BanCoppel will be able to increase efficiency, respond quickly to customer demands, and innovate faster. Temenos open platform will help BanCoppel to scale and benefit from new business models built around its retail brands. Temenos will help the bank drive innovation and growth as the bank continues to build out its ecosystem and increase its customer base. We are proud to have been selected as the bank evolves into the next stage of its mission to make banking more accessible for all.”