Temenos announced that CEC Bank, the third largest bank in Romania, has selected Temenos to modernize its retail and corporate core banking systems.
The state-owned bank is migrating from legacy systems to Temenos’ core banking platform including best-of-breed solutions for payments and data analytics. This transformation will enable CEC Bank to drive faster time to market, operational efficiency and business agility as it looks to further strengthen its position in the Romanian banking market.
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CEC Bank chose Temenos for its comprehensive functionality across retail, corporate banking and payments on a scalable, cloud-ready platform. Temenos Payments will be used for all domestic and cross-border payments. The bank will also benefit from Temenos’ flexible, API-based architecture, to simplify integration with its existing ecosystem and accelerate innovation with third-party services.
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Established in 1864, CEC Bank serves over 2 million retail, SME and corporate customers via digital channels and a network of more than 1000 branches across Romania. The bank plays a key role in delivering government programs, such as the disbursement of EU funds, while continuing to launch forward-thinking solutions such as QR code-enabled ATM withdrawals.
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The core banking and payments modernization project will be delivered in collaboration with Tech Mahindra and SoftCentric to ensure a smooth transition and market-specific implementation.
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