One of the largest independent thrift banks in Philippines selects Temenos to support its corporate development growth
Temenos (SIX: TEMN), the software specialist for banking and finance, today announces that the Philippine Resources Savings Banking Corporation (PR Savings Bank), the fifth largest independent thrift bank in the Philippines, has signed for Temenos T24 Core Banking and Analytics. PR Savings Bank is expanding its business lines from loans into deposits. The bank chose Temenos as the platform to support its growth and enable it to quickly bring new and personalized products and services to market, driven by data.
This project will empower PR Savings Bank in its objective to meet the diverse financial needs of the population through various loans and deposit products and services which are effectively and efficiently developed from conception to market launch. The bank has opted for a big bang implementation approach, launching all of its business lines simultaneously, allowing itself to benefit from the new technology in the quickest timeframe.
Martin Frick, Managing Director of Asia Pacific at Temenos stated: “Customers want financial institutions to perform the role of infomediaries, helping them to make better financial and commercial decisions. PR Savings Bank has embarked on an expansion plan by introducing more products and services to provide greater financial access to countryside communities. To achieve this, banks like PR Savings Bank need real-time, integrated, future-ready systems and that is exactly how Temenos technology was designed. This signing demonstrates that our vision for banking and technology is resonating with banks. We are pleased to continue our momentum in APAC, and we are thrilled to welcome PR Savings Bank into our client community.”
Emmanuel Benitez, President, PR Savings Bank commented: “Our mission is to bring banking services to the masses and agriculture society in Philippines. The decision to partner with Temenos was driven by our objective to expand our products and services beyond the lending sphere to better service our market. With the flexibility of Temenos’ system, we will be able to quickly design and launch new products, making data-driven decisions based on the insight from Temenos’ analytics solution. Powered by Temenos technology, we will be able to bring real-time, tailored financial services to our account holders whether they are in the cities or in the countryside, full-time employees or small business owners and farmers.”