One of the largest technology investments in Latin America’s financial sector designed to encourage consumer banking and expand financial inclusion in Peru
Banco de Crédito del Perú (BCP) has partnered with Microsoft, a leader in cloud solutions, and Kyndryl, a global leader in IT infrastructure services, to modernize BCP’s IT systems with hybrid cloud and help Peruvians gain greater access to digital banking services. This agreement represents BCP’s investment of more than $650M over five years, making it one of the largest technology investments in Latin America’s financial services sector.
“Our purpose is to serve as allies to our customers to help them transform their plans into reality, understanding that financial inclusion provides opportunities for growth. Digitalization can help close the gap, and so BCP, together with Microsoft and Kyndryl, will modernize our technological systems to achieve more agile and flexible applications with world-class levels of stability and security, allowing us to offer a better experience for millions of our customers,” said Diego Cavero, CEO of BCP.
Financial Technology Insights: TerraPay and Suyool Join Forces to Enable Instant and Secure Money Transfers to Anyone in Lebanon
Mario Rodríguez, Microsoft´s general manager for Peru, stressed that the joint work between BCP, Microsoft and Kyndryl will transform the country´s financial industry. “This collaboration will not only modernize the sector, but will also create an innovation platform that will drive disruptive projects through artificial intelligence. This will benefit entrepreneurs and small business owners by facilitating access to essential financial services and promoting sustainable growth. Together, we are positioning Peru as a leader in technological innovation at a global scale.”
As part of this agreement, BCP will work with Kyndryl and leverage Microsoft Azure to create a hybrid computing environment that will enable the modernization of the bank’s IT application environment and improve the agility and availability of its digital channels, generating greater value for the end customer who will benefit from a smoother and faster online and mobile experience.
Financial Technology Insights: Thunes and GCash Launch Cross-border Digital Wallet Top-up Solution
“The banking sector is rapidly evolving to meet consumer demands and preferences for an improved digital experience. While invisible to the public eye, a modern, agile and robust IT infrastructure is absolutely critical to creating a resilient and accessible experience for today’s consumers,” said Leandro Peirano, Managing Director, Kyndryl Peru. “We are honored to support BCP in defining its IT modernization strategy and collaborating with Microsoft to bring the bank’s vision to life.”
This milestone reaffirms BCP’s commitment to continue leading digital banking in Peru. Currently, BCP’s mobile banking and Yape are the most used banking applications and digital wallets in the country. 72% of BCP’s customers are digital and more than 16 million Yape users in Peru use the application at least once a day, reaching 27 million daily transactions on average.
Financial Technology Insights: Nium and HyperGuest Join Forces to Streamline Payments for the Travel and Hospitality Industry
Source – PR Newswire
To share your insights with the FinTech Newsroom, please write to us at news@intentamplify.com
