Garanti BBVA International (GBI), a subsidiary of BBVA, has opted for Temenos to streamline its core banking systems. GBI is sliding into the cloud leveraging the Temenos Banking Cloud as a system for its commercial and corporate business clients in Germany and Netherlands.
GBI aspires to be a glowing model of a sophisticated, digitally savvy bank. It has begun a multi-year endeavor to restructure its overall architecture to harness the potential of data and nurture new practices. The bank has adopted a cloud-first strategy and became one of the first in the Netherlands to use the public cloud exclusively for banking activities and hosting services.
Marco Witteveen, COO/CIO, Garanti BBVA International, stated, “At GBI, we have adopted a cloud-first strategy to prepare the bank for the future, transforming our services for the open, digital age. We knew we needed a next-generation core to support our growth and product innovation ambitions, and Temenos was the obvious choice. On Temenos Banking Cloud, we can connect to the financial ecosystem and bring new products to market at a lower cost to build a sustainable business and with the flexibility to adapt to new opportunities.”
The bank’s digitalization hinges on the adoption of Temenos Software-as-a-Service (SaaS) for core banking. It provides GBI the flexibility and paces it needs to optimize operations and cut costs. The Temenos Banking Cloud enables GBI to bring improvement to the market rapidly because of its composable services, API-first architecture, and ecosystem. GBI works with clients in the retail, corporate, and institutional sectors. It provides trade and commodity financing (TCF), corporate banking, cash management, and Global Markets Sales financial solutions.
Jean-Paul Mergeai, President – EMEA-APAC, Temenos, commented, “The GBI team has a clear vision for the future of banking built on open, cloud-native architecture to drive growth with scale and efficiency. Our platform is powering a world of banking that creates opportunities for everyone. As part of the BBVA group, GBI is a pioneer setting the standard for digitization in the industry, and we’re delighted to be part of their journey.”