Puerto Rico’s Segura Bank goes live with Temenos core banking in the cloud

By Delisha Fernandes

Temenos has announced that Puerto-Rico headquartered Segura Bank International, Corp. (“SBI”) has gone live with Temenos core banking platform deployed in the cloud to power a new digital bank for mid to high earners in Latin America.

Juan Zambrano, Chief Executive Officer, Segura Bank International, Corp., said,  “We are delighted to be running our multicurrency accounts and deposits on the world’s most trusted banking platform. Temenos offers a market-leading cloud-native banking platform and proven expertise across the LATAM region. This will allow us to grow our new digital bank with confidence, as we offer the stability of US dollars to more customers across Latin America.”

Temenos’ cloud-native platform will enable SBI, which is licensed by Puerto Rico’s financial services regulator, the Office of the Commissioner of Financial Institutions (OCIF), as an “International Financial Entity” (IFE), to launch banking products faster and scale efficiently as it expands across the continent.

With Temenos banking capabilities for Multicurrency Accounts and Deposits, SBI will offer US dollar financial products, helping its customers protect their savings from potential currency fluctuations and devaluation and enabling easier international transactions and access to global markets denominated in US dollars.

SBI will leverage the cloud-native core banking capabilities of the Temenos platform for fast and efficient transaction processing and managing customer accounts, as well as supporting the bank’s compliance. SBI is also benefiting from Temenos’ model bank and pre-configured banking processes, which improve operational efficiency and accelerate time to market with increased automation and digitized workflows.

The implementation, supported by delivery partner ITSS, was completed in just six months, with Temenos’ cloud-native, API-first architecture also making it easier for SBI to build an ecosystem to meet its growing requirements.

Rodrigo Silva, Executive Vice President – Americas, Temenos, said, “ Congratulations to Segura Bank International on this successful launch. By running our banking platform on the public cloud, the bank benefits from greater agility, higher performance, scalability, and security to grow its operations and provide banking services across the rapidly growing markets of Latin America.”