Romania’s CEC Bank has selected Swiss banking software provider Temenos to transform the lender’s retail and corporate core banking systems.
The state-owned bank will migrate from legacy systems to Temenos’ advanced core banking platform, which will incorporate specialised solutions for payments and data analytics.
This transformation aims to enhance CEC Bank’s operational efficiency, business agility, and speed to market as it works to solidify its position in Romania’s competitive banking sector.
According to Temenos, the bank chose its platform due to its robust functionality across retail, corporate banking, and payments, all of which are built on a scalable, cloud-ready platform.
The implementation will include Temenos Payments for managing domestic and cross-border transactions.
It will also comprise a flexible application programming interface (API)-based architecture to streamline integration with existing systems and expedite innovation through third-party services.
Founded in 1864, CEC Bank caters to more than two million retail, small and medium enterprises (SME), and corporate customers through a network of over 1,000 branches and digital channels.
The bank also plays a major role in the delivery of government programmes, such as European Union (EU) fund disbursements. CEC Bank has also introduced innovative services like QR code-enabled ATM withdrawals.
CEC Bank chief information officer Daniel Calin said: “Modernising our core banking and payments infrastructure with Temenos will enable CEC Bank to deliver improved products and superior experiences for our customers.
“Temenos offers a best-in-class core banking solution and unifying our business lines on their agile platform will help us to scale more efficiently and innovate faster as we drive the future growth of our business.”
The modernisation project will be executed in partnership with Tech Mahindra and SoftCentric, ensuring a seamless transition and adaptation to the Romanian market’s specific requirements.
Temenos Europe managing director Mark Yamin-Ali said: “We’re delighted to be partnering with CEC Bank on this strategic project, which will help one of Romania’s largest banks to streamline its operations, increase automation and deliver faster time to value.
“Temenos, together with our delivery partners Tech Mahindra and SoftCentric, offers a proven path for transformation and adoption of modern banking technology. Powered by Temenos, CEC Bank is well-positioned to strengthen its leadership and drive innovation in the Romanian market.”
