The implementation was delivered 100% in the cloud and 100% remotely amidst the COVID-19 lockdown. Temenos’ digital core banking technology replaces Banco Ripley’s legacy IT system with cloud and open API technology to provide digital experiences to more than one million retail store customers in Peru.
Banco Ripley selected Temenos Transact as one of its strategic initiatives to accelerate its digital transformation process. Temenos’ Model Bank approach delivers pre-configured, localized functionality and best practices, reducing the need for customization and decreasing timescales for delivery.
Temenos’ technology will support the bank in offering retail banking products, including accounts, time deposits and loans. Temenos’ digital banking platform supports Banco Ripley’s strategic objectives to increase its market share, and sustainable growth by optimizing its banking operations and reducing operational costs.
Banco Ripley is the financial arm of Ripley Corp, a company comprised of retail, financial and real estate enterprises, with a strong presence in Chile and Peru. Ripley is one of South America’s retail operators, with more than 70 stores and three million financial clients across the region.
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