Two new core banking tech deals for Technisys in Brazil and Argentina
EXCLUSIVE: Banking tech vendor Technisys has landed two new deals for its flagship core banking system, Cyberbank Core, and digital channels software, Cyberbank Omnichannel.
One is Grupo Elo in Brazil, a financial services group owned by Bradesco, Banco do Brasil and Caixa. Elo is launching a new banking and fintech/paytech firm that will focus on fast payments. Technisys’ Cyberbank Core will support its back office operations and API, while Cyberbank Omnichannel will support the front-end operations across all digital channels.
The other taker is Tarjeta Plata, a financing company in Argentina that offers credit cards and consumer lending products. According to a source on the ground, Tarjeta Plata intends “to go fully digital” and expand its range of offerings. Technisys’ Cyberbank Core and Cyberbank Omnichannel will support Tarjeta Plata’s front-to-back office operations.
In both instances, the software will be delivered in the cloud.
In Brazil, Cyberbank is already up and running at Banco Original, a private banking subsidiary of J&F (one of the biggest enterprise groups in Brazil). It replaced a host of in-house grown and locally-developed modules. Technisys beat Oracle FSS, Temenos and SAP for this deal. The project was completed a couple of years ago.
Banco Original is a digital-only bank with around 700,000 customers. According to Miguel Santos, CEO of Technisys, Banco Original’s ambition is “to build the biggest pure-play online bank in Brazil”.
Therefore, the bank required a “core banking system specifically designed to serve digital customers”, Santos says. Fast time-to-market for new products, SOA design, scalability, agility of processes and “real-time 24×7 operation specifically supporting volume bursts and dynamic resources allocation” were on the key criteria list, he adds.
Technisys covers the Latin American market and is particularly active in Argentina, Brazil, Uruguay, Chile and Mexico. Its head office is in Miami, US, and it has offices across Central and South America, and the Caribbean (Costa Rica). It also has an office in Spain.
Cyberbank Core users include Banco Improsa in Costa Rica, BancoEstado in Chile, Banorte in Mexico. Banco Provincia in Argentina uses Cyberbank Omnichannel.