Cebuana Lhuillier Bank and Temenos Forge Strategic Partnership to Transform Filipino Financial Services
Cebuana Lhuillier Bank, one of the Philippines’ most advanced rural banks, is pleased to announce a strategic partnership with Temenos, a global pioneer in open banking platforms. This collaboration represents a significant step forward in changing the country's rural banking industry.
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Formalizing the partnership (from L-R)
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's unwavering commitment to financial inclusion lies at the heart of this collaboration. The bank will now use Temenos' core banking platform to effectively manage customer accounts and deliver accessible lending products such as motorcycle and wage loans, ensuring a smoother and more pleasant banking experience for its consumers.
"Our commitment to financial inclusion is unwavering," said Jean Henri Lhuillier, President & CEO of Cebuana Lhuillier and Vice Chairman of Cebuana Lhuillier Bank. This relationship strengthens our drive to provide outstanding services, products, and opportunities for Filipinos to create significant change in a country where dependable financial services are crucial."
The agreement also provides Cebuana Lhuillier Bank with the flexibility to effortlessly respond to changing market conditions and regulatory solutions, thanks to the Temenos solution. This capability will allow the bank to efficiently answer the changing needs of its loyal customers.
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"The financial industry is in a constant state of evolution due to rapid technological advancements," said Dennis Valdes, President of Cebuana Lhuillier Bank. Our clients' needs are changing, and it is our responsibility to not only meet but exceed those expectations. This collaboration demonstrates our commitment to embracing innovation and transforming the banking experience for our consumers."
"Our partnership with Cebuana Lhuillier Bank reinforces Temenos' position as a compelling choice for banks of various sizes and segments, including rural and thrift banks," said Ramki Ramakrishnan, Managing Director - APAC of Temenos. We look forward to assisting Cebuana Lhuillier Bank on its path to greater success."
The Temenos solution will be implemented by Orion Innovation, a delivery partner. Orion offers a range of digital services and technological solutions to assist banks in modernizing legacy systems and developing next-generation products, hence opening up new business opportunities. Orion, a Temenos multi-regional partner, specializes in full-service installation and integration skills in core banking, payments, and digital banking solutions for Temenos clients globally.
Anoop Gala, Orion Innovation's Global Head of Financial Services, highlighted his enthusiasm for the project, saying, "We are thrilled to embark on Cebuana Lhuillier Bank's core modernization program in the Philippines." This transaction, along with Temenos, improves our core portfolio and matches with our aim to drive digital transformation projects for our clients."
Cebuana Lhuillier Bank and Temenos' strategic relationship heralds a new age of innovative and inclusive banking in the Philippines.