Cebuana Lhuillier to Expand User Base to 11 Million in 5 Years with Temenos
by Fintech News Philippines August 21, 2023Philippines rural bank Cebuana Lhuillier will be modernising its core banking platform through a partnership with banking software company Temenos.
Cebuana Lhuillier Bank provides credit and savings accounts to individuals, micro, small and medium enterprises to grow their personal or business finances.
With Temenos, Cebuana Lhuillier Bank aims to expand its personalised product offerings including new lending products such as motorcycle loans and grow from 7 million to more than 11 million customers over five years. The solution will be implemented by Temenos’ delivery partner, Orion Innovation.
The Temenos solution also assists the bank to adapt more easily to changing market conditions and local regulatory requirements.
While Cebuana Lhuillier Bank will initially deploy the Temenos solution in its on-premise datacenter, the cloud-native solution gives the bank the flexibility to easily migrate to the cloud in future.
Jean Henri Lhuillier
Jean Henri Lhuillier, Vice Chairman of Cebuana Lhuillier Bank said,
“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.”
Ramki Ramakrishnan
Ramki Ramakrishnan, Managing Director – APAC at Temenos said,
“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.”
