One of the most active rural banks in the Philippines, Cebuana Lhuillier Bank, announced a strategic partnership with Temenos, the world’s leading open platform for composable banking, to update its core banking platform.
This is a big step toward changing how rural banks work in the country.
Cebuana Lhuillier Bank’s dedication to financial equality is vital to this partnership.
Cebuana Lhuillier Bank, which serves more than seven million Filipinos, can easily monitor customer accounts and make lending products like motorcycles and salary loans more accessible with Temenos’ core banking platform. This makes the banking experience for customers easier and more seamless.
“Cebuana Lhuillier’s commitment to financial inclusion remains steadfast. In a nation where access to reliable financial services is paramount, this collaboration strengthens our resolve to provide better services, products, and opportunities for Filipinos to create meaningful change,” commented Jean Henri Lhuillier, President & CEO of Cebuana Lhuillier and Vice Chairman of Cebuana Lhuillier Bank.
With the help of the Temenos solution, this relationship also ensures that Cebuana Lhuillier Bank can quickly adapt to changing market conditions and local regulatory solutions and meet the changing needs of its valued customers.
Due to fast technological progress, the financial business is always changing.
Our job is to meet and go beyond what our clients expect as their needs change. “This alliance shows that we are determined to embrace new ideas and change how our valued customers bank,” said Dennis Valdes, President of Cebuana Lhuillier Bank.
“We are delighted to welcome Cebuana Lhuillier Bank as the newest member of our Temenos family in the Philippines. With a robust presence in the country, our partnership with Cebuana Lhuillier Bank reinforces Temenos’ position as a compelling choice for banks across various sizes and segments, including rural and thrift banks. We are everyone’s banking platform. We eagerly anticipate supporting Cebuana Lhuillier Bank’s journey towards greater success,” said Ramki Ramakrishnan, Managing Director – APAC of Temenos.
“We are thrilled to embark on Cebuana Lhuillier Bank’s core modernization program in the Philippines. Our comprehensive offerings around Temenos, coupled with our regional presence in the Philippines, position us well to ensure a successful core banking transformation. This deal strengthens and builds on our core offering along with Temenos and aligns with our strategy to accelerate digital transformation initiatives for our clients,” added Anoop Gala, Global Head of Financial Services of Orion Innovation.
One of its delivery partners, Orion Innovation, will implement the Temenos system. Orion offers a group of digital services and tech options that assist banks in updating and changing their old systems and designing and creating cutting-edge goods that help the banks make new business connections. Since Orion is a Temenos multi-regional partner, it offers full-service development and integration of core banking, payments, and digital banking solutions to Temenos clients worldwide.