Segura will run Temenos’ banking platform on Microsoft Azure to develop banking services faster and at a lower cost. The new digital bank will include US-dollar financial products. In addition, the bank will help customers protect their savings from any currency fluctuations and devaluation and allow easier access to international transactions and global markets denominated in US dollars.

Finally, Temenos’ model bank processes will help Segura improve operational efficiency with increased automation and digitised workflows.

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The new digital bank is expected to become fully operational in the coming months.

Juan Zambrano, CEO of Segura Bank, commented: “We are delighted to partner with Temenos as the world’s most trusted banking platform.

“Temenos offers a market-leading cloud banking platform and proven expertise across the LATAM region”, Zambrano continued. “On the Temenos platform, we can build our new digital bank with confidence and look forward to offering the stability of the US dollars to our key audiences in LATAM as we grow Segura Bank.

Temenos: Partnering with neobanks around the world

For Temenos, the partnership comes after the banking platform recently joined successful collaborations with other neobanks.

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In January this year, Taiwanese digital lender Next Commercial Bank (Next Bank) launched on Temenos Banking Cloud. The move enabled Next Bank to simply financial management processes, bring products to market quickly and scale operations using the platform’s solution.

In March, Qik Banco Digital Dominicano, owned by Grupo Popular – one of Latin America’s largest financial groups with over $13bn in assets and over two million clients – launched on Temenos Banking Cloud.

The partnership gave Qik clients instant access to services via the software-as-a-service system on the Temenos Banking Cloud.

Rodrigo Silva, senior vice president of Sales, Latin America and the Caribbean at Temenos, welcomed the partnership with Segura Bank.

“We are delighted that Segura Bank has selected Temenos as the foundation for its growing operation to provide banking services across the rapidly growing markets in Latin America. By running our banking platform on the public cloud, the bank will benefit from greater agility, higher performance, scalability, and security. Following our close work with the Segura team, we look forward to supporting them as they grow and develop their offering.”

Temenos’ market capitalisation was $5.26bn as of 22 June 2023. In 2022, the firm’s revenue stood at $950m – 1.80% lower than the previous year.

This story originally appeared on www.retailbankerinternational.com on June 22, 2023.