Banco de la Nación del Perú goes live with Temenos

Thursday 17 March 2022 10:44 CET | News

Banco de la Nación del Perú has partnered with Temenos, the banking software company, to accelerate financial inclusion. 

In the first phase of the implementation, Temenos Banking Cloud supported the opening of two million new digital accounts called Cuentas DNI. With Temenos’ scalable open platform, the bank plans to expand to 24 million accounts. 

These accounts were created with the identification number (DNI) of each citizen, as part of the Yanapay Individual Economic Support programme to provide government relief funds in response to the COVID-19 pandemic. Every Peruvian citizen, age 18 and older, with a DNI is automatically allocated a Cuentas DNI, fostering financial inclusion. Of the two million people who received a Cuentas DNI, more than 1.8 million previously did not have a bank account.

Banco de la Nación del Perú has approximately 570 branches, 60% of which are in remote areas of the country. One of the bank’s key objectives is to promote financial inclusion through sustainable and modern business practices. Only 52% of adults in Peru have a bank account, according to data from the National Household Survey (ENAHO) and collected by the SBS. In response to the pandemic, the Peruvian government has launched special programmes to distribute funds to the most vulnerable populations, using Cuentas DNI, has facilitated the payment of one of these bonds to millions of unbanked Peruvians.

With the Temenos open platform for composable banking, Banco de la Nación del Perú will be able to scale, launch new products, and modernise other lines of business. The operational cost efficiencies will enable Banco de la Nación’ to offer its customers better benefits such as lower fees.

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Keywords: Temenos, partnership, digital banking, online banking
Categories: Banking & Fintech
Countries: Peru
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Banking & Fintech

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