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Sunday, February 25, 2024

Cebuana Lhuillier Bank joins forces with Temenos to revolutionize financial services for Filipinos

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Formalizing the partnership (from left) Nick Edwards, Deputy Regional Director APAC and General Manager, ASEAN of Temenos; Philippe Andre Lhuillier, Senior Executive Vice President of Cebuana Lhuillier; Jean Henri Lhuillier, President and CEO of Cebuana Lhuillier and Vice Chairman of Cebuana Lhuillier Bank; Dennis Valdes, President of Cebuana Lhuillier Bank; and Suchen Janjale, Head of Financial Services, Europe & Temenos Practice of Banktech

 Cebuana Lhuillier Bank, one of the Philippines’ most dynamic rural banks, announced its strategic partnership with Temenos, the world’s leading open platform for composable banking, to update its core banking platform in a significant stride toward reshaping the rural banking landscape in the country.

Central to this collaboration is Cebuana Lhuillier Bank’s commitment to financial inclusion.

Through Temenos’ core banking platform, Cebuana Lhuillier Bank, which serves more than seven million Filipinos, can oversee customer accounts with efficiency and introduce accessible lending products such as motorcycle and salary loans, giving clients a more convenient and seamless banking experience.

“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.

This partnership also ensures Cebuana Lhuillier Bank, through the Temenos solution, can adapt seamlessly to evolving market conditions and local regulatory solutions, and effectively meet the dynamic needs of its valued customers.

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The financial industry is continuously evolving due to rapid technological advancements. Our clients’ needs are changing, and it is our responsibility to not only meet but exceed those expectations. This alliance marks as a testament to our commitment to embrace innovation and redefine the banking experience for our valued customers,” added 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.

The Temenos solution will be implemented by its delivery partner Orion Innovation. Orion provides a suite of digital services and technology solutions that help banks modernize and transform their legacy systems and design and develop next-generation products that allow the banks to create new business opportunities.

Being a Temenos multi-regional partner, Orion specializes in delivering full-service implementation & integration capabilities in core banking, payments and digital banking solutions to Temenos clients across the globe.

 

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