back Back

Dominic Republic’s first digital bank launches on Temenos Banking Cloud

By Gloria Methri

March 17, 2023

  • Dominican Republic
  • FinTech
  • Latin America
Share

temenos, Qik Banco Digital Dominicano, Dominican Republic, Temenos Banking Cloud, Neobank, FinTech, South AmericaTemenos has announced the launch of Qik Banco Digital Dominicano on Temenos Banking Cloud, making it the first fully digital bank in the Dominican Republic. As part of the Popular Group, Qik combines more than five decades of banking experience with the operational agility and digital experiences enabled by the Temenos platform.

Grupo Popular, one of the largest financial groups in Latin America, with operations in the Dominican Republic and Panama, has assets of more than $13 billion and more than two million clients. Launching Qik on Temenos Banking Cloud with consultative support from ITSS will enable the bank to quickly establish a presence in the Dominican Republic. It also plans to onboard thousands of people in the first year.

With instant access to packaged banking services via Software as a Service (SaaS) on the Temenos Banking Cloud, Qik can meet the emerging needs of digital customers. Temenos Banking Cloud also allows Qik to take advantage of the benefits of an OpEx model and adapt elastically based on business demand.

The open and flexible platform will empower Qik to rapidly design and deliver innovative products and services. The bank will use Temenos core banking solutions and payment services on a pay-per-use basis, while launching products from debit accounts to savings accounts to personal loans throughout the Dominican Republic.

Arturo Grullón Finet, CEO of Qik, said, “We chose Temenos because its cloud technology has a successful track record across Latin America and we knew it could help us deliver a digital experience that redefines banking, so our customers can bank smarter, happier and better connected than ever before.

Enrique Ramos O’Reilly, Senior Vice President of Customer and Partner Success at Temenos, said, “With the implementation of the Temenos Banking Cloud, Qik can quickly and easily experiment, innovate, and bring new products to market to drive growth and optimize the customer experience. While supporting the group’s sustainable vision by reducing carbon emissions by more than 90% compared to using local infrastructure and applications and offering Qik customers tools to measure and mitigate the carbon impact of their transactions. We are very happy to conclude this project with Qik.”

Previous Article

March 17, 2023

Life.Money.You. selects Paperwork to power its financial wellness initiative

Read More
Next Article

March 17, 2023

Synalcom merges with FinTech Qori to launch Sylq

Read More








IBSi Daily News Analysis

Generative AI

April 12, 2024

Dominican Republic

Security experts sound the alarm on Deepfake threats in the age of AI

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Navy Federal Credit Union expands partnership with Backbase

Read More

Today

FinTech Focus: Catch latest developments of the week

Read More

Today

N26 launches Joint Accounts to help customers to manage shared finances

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023