Economy May 6, 2020 | 10:38 am

Buy car in DR

BHD Leon, a leading bank in the Dominican Republic, selects Temenos to power its Digital Transformation

Press Release

BHD Leon selected Temenos’ cloud-native, cloud-agnostic software to deliver
operational excellence and provide personalized digital banking services to
1.5 million people

GENEVA, Switzerland – May 6, 2020 – Temenos (SIX: TEMN), the banking
software company, today announced that BHD Leon has chosen to implement
Temenos Transact, the next generation core banking product, 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 in Panama. The bank plans to
expand 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 an organization deeply committed to social responsibility, BHD Leon’s
contribution to creating a prosperous economy is a key initiative for the
bank. The bank’s mission is to improve the world by empowering individuals
and businesses, driving economic and financial growth and stability, even
in uncertain times.

As part of its strategy, the bank will institute a digital transformation
plan that will help BHD Leon to meet the emerging needs of clients, and 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.

*Steven Puig, President, BHD Leon, commented:* “We are committed to being
the benchmark for banks in the Dominican Republic. Our vision for digital
transformation required a partner with open technology, fast time to
market, and the ability to scale. We are delighted to have found a partner
that shares our vision for enabling everyone, from the student; to the
small business owner; to the tourist; to the large corporation, with
personalized banking services for all of their needs. Temenos’ modern, open
and agile technology will drive powerful change as we seek to support even
more people and expand into other countries.”

*Enrique Ramos O’Reilly, Managing Director – Latin America and the
Caribbean, Temenos, said: *“We are delighted to partner with a leading bank
in Latin America on a project that will set the standard in digital banking
for the region. 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. BHD Leon’s new digital
banking platform will enable the bank to offer superior banking experiences
and innovative services rapidly, at the pace of market demand.”

Temenos has a proven track record of helping banks to digitally transform.
High-performing clients using Temenos software have achieved
industry-leading cost-income ratios of 26.8% and returns on equity of 29%,
three times the industry average. Temenos gives banks freedom of choice to
deploy software on premise, in any public cloud, or as Temenos SaaS.

Comments are closed.