Puerto Rico-based Segura Bank International has gone live with Swiss banking software provider Temenos’s core banking platform deployed in the cloud to drive a new digital bank for mid to high earners in Latin America.
Segura Bank is licensed by Puerto Rico’s financial services regulator, the Office of the Commissioner of Financial Institutions (OCIF), as an international financial entity (IFE).
The Temenos’s cloud-native platform will allow Segura Bank to introduce banking products more rapidly and scale effectively as it expands across the continent.
Temenos Americas executive vice president Rodrigo Silva said: “By running our banking platform on the public cloud, the bank benefits from greater agility, higher performance, scalability, and security to grow its operations and provide banking services across the rapidly growing markets of Latin America.”
By leveraging Temenos banking capabilities for multicurrency accounts and deposits, Segura Bank will also offer US dollar financial products. This will help the bank’s customers to secure their savings against currency fluctuations and devaluation while facilitating seamless international transactions and access to global markets.
Segura Bank will also utilise the cloud-native core banking features of the Temenos platform for swift and efficient transaction processing, customer account management, and bolstering the bank’s compliance efforts.
Furthermore, the bank will benefit from Temenos’s model bank and pre-configured banking processes, which enhance operational efficiency and expedite time to market with increased automation and digitised workflows.
Segura Bank International CEO Juan Zambrano said: “We are delighted to be running our multicurrency accounts and deposits on the world’s most trusted banking platform.
“Temenos offers a market-leading cloud-native banking platform and proven expertise across the LATAM region. This will allow us to grow our new digital bank with confidence, as we offer the stability of US dollars to more customers across Latin America.”