The bank is migrating from legacy systems to Temenos’ core banking platform including solutions for payments and data analytics. This collaboration will enable CEC Bank to drive faster time to market, operational efficiency, and business agility.
CEC Bank chose Temenos for its functionality across retail, corporate banking and payments on a scalable, cloud-ready platform. The bank will benefit from Temenos’ API-based architecture to simplify integration with its existing ecosystem and accelerate innovation with third-party services. These functionalities will be used for both domestic and cross-border payments.
This partnership will enable the bank to grow, increase automation, and deliver improved products and services to its customers by leveraging Temenos’ core banking solution and unifying its business lines on Temenos’ platform.
CEC Bank serves over 2 million retail, SMEs, and corporate customers via digital channels and a network of more than 1000 branches and territorial units with assets of EUR 18.74 billion at the end of H1 2023. The bank delivers government programs, such as the disbursement of EU funds, while continuing to launch solutions such as QR code-enabled ATM withdrawals.
The core banking and payments modernisation project will be delivered in collaboration with Tech Mahindra and SoftCentric to ensure a simple transition and market-specific implementation.
In October 2024, when the Romanian Banking Association announced the launch of the RoPay system, CEC Bank was one of the first banks to implement it. This served as an instant mobile payment initiation service that facilitates direct A2A transfers. It utilises various technologies, including QR code scanning, deep links, NFC, and mobile numbers as proxies for IBANs. Participating banks and merchants can implement multiple payment types based on their strategies.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now