BanCoppel selects Temenos for core banking modernization
BanCoppel, part of the prestigious Coppel Group and one of the most important financial institutions in Mexico, has selected Temenos to continue innovating in the banking services ecosystem
Share on:
Share on Linkedin
Share on Twitter
Share on Facebook
Visit us on Instagram
Press Releases, July 6, 2023
Temenos - Company
GENEVA, Switzerland - JULY 06, 2023 - Temenos (SIX: TEMN) announced today that BanCoppel, part of Grupo Coppel, one of the largest organizations in Mexico, which includes major financial and retail brands such as Afore Coppel and Tiendas Coppel, has selected Temenos to continue its technological transformation, driving modern banking services.
BanCoppel was the first to offer loans to Mexicans who had no possibility of proving their income, providing them with microloans for small purchases with store credit since 1941. Today, Temenos will support the group's vision of continuing to create a more inclusive, sustainable and socially responsible future.
The Temenos core banking platform will enable the bank to continue to scale efficiently, as well as offer an integrated ecosystem of easy and accessible banking services. Supported by Temenos' open platform, BanCoppel will advance its digital banking capabilities and further integration across its brands.
BanCoppel will benefit from Temenos' proven technology leadership, extensive experience in Mexico, and strong reputation with existing customers. The implementation of this platform will not only provide the bank with greater efficiency and sustainability, but will also support BanCoppel's digital transformation project.
Juan Manuel Fernández Islas, Director of IT, Digital Transformation & Operations - BanCoppel, said:
"Historically, the mass market in Mexico has been underserved by conventional banking, with much less access to credit and financial services. Our objective with this partnership with Temenos is to continue being the favorite bank of the popular class in Mexico, providing solutions that improve their quality of life. This transformation project will increase efficiency by creating an open ecosystem with easy integration through APIs, which will allow us to create easy, simple and more accessible banking services. Temenos has a proven reputation in Latin America and supports banks with a mission of financial inclusion - we look forward to collaborating together and creating a new era of banking."
Rodrigo Silva, SVP Sales - Latin America and the Caribbean, Temenos, said:
"Banking services are becoming more and more integrated into people's daily lives: banking itself is becoming a journey and an experience. The Temenos platform is perfectly aligned to deliver BanCoppel's vision of creating exceptional customer experiences powered by modern technology. With Temenos, BanCoppel will be able to increase efficiency, respond quickly to customer demands, and innovate faster. Temenos open platform will help BanCoppel to scale and benefit from new business models built around its retail brands. Temenos will help the bank drive innovation and growth as the bank continues to build out its ecosystem and increase its customer base. We are proud to have been selected as the bank evolves into the next stage of its mission to make banking more accessible for all."
Temenos AG published this content on 06 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 July 2023 06:40:09 UTC.
Temenos AG, formerly Temenos Group AG, is a Switzerland-based company engaged in the development and marketing of banking software systems. Its services include implementation, performance optimization, integration, administration, maintenance, upgrades, training and support for its software solutions. It offers solutions for retail, corporate, universal, Islamic and microfinance and community banking sectors, as well as for Private Wealth Management. The Company's client base consists of mostly banking and other financial services institutions. Its core products are Temenos T24 Core Banking (T24), a front to back office, Customer Relationship Management (CRM) and product lifecycle management software platform, as well as Front Office, an integrated, role-specific, and multi-channel solution that supports banks’ daily interactions and long term relationships with their retail, corporate, mass affluent, and High-Net-Worth (HNW) customers. It offers also funds and securities solutions.
This super rating is the result of a weighted average of the rankings based on the following ratings: Global Valuation (Composite), EPS Revisions (4 months), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Investor
Investor
This super composite rating is the result of a weighted average of the rankings based on the following ratings: Fundamentals (Composite), Global Valuation (Composite), EPS Revisions (1 year), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Global
Global
This composite rating is the result of an average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), Financial Estimates Revisions (Composite), Consensus (Composite), and Visibility (Composite). The company must be covered by at least 4 of these 5 ratings for the calculation to be performed. We recommend that you carefully review the associated descriptions.
Quality
Quality
This composite rating is the result of an average of the rankings based on the following ratings: Capital Efficiency (Composite), Quality of Financial Reporting (Composite), and Financial Health (Composite). The company must be covered by at least 2 of these 3 ratings for the calculation to be performed. We recommend that you carefully review the associated descriptions.
ESG MSCI
ESG MSCI
The MSCI ESG score assesses a company’s environmental, social, and governance practices relative to its industry peers. Companies are rated from CCC (laggard) to AAA (leader). This rating helps investors incorporate sustainability risks and opportunities into their investment decisions.
