Banco Ripley goes live on Temenos Transact
Chilean bank Banco Ripley has gone live with a new core banking system in the form of Temenos Transact.
The Temenos solution has replaced the Fisa-System core banking system from regional vendor Fisa Group, FinTech Futures understands.
Both firms completed the implementation remotely. It involved the integration of more than 40 legacy systems and involved 9,000 functional tests. The delivery was supported by Temenos’ local partner ITSS.
Temenos says it has implemented “advanced cloud and open API technology” at Banco Ripley. The solution will support the bank’s developing retail products, including accounts, deposits and loans.
Banco Ripley was founded in 2003 and is based in Santiago, Chile. It is the financial arm of Ripley Corp, a retail, financial and real estate firm.
“Temenos Transact provides a single solution on which we can simplify our operations and reduce cost and provide exceptional banking experiences to our retail store customers,” says Samuel Sanchez, general manager of Banco Ripley Peru.
Enrique Ramos O’Reilly, managing director for Latin America and the Caribbean, says the vendor has a “rich history” supporting banks in region.
“In spite of the global pandemic, we were able to support a quick and effective remote implementation for Banco Ripley.
“We see a great acceleration in cloud adoption as banks are turning to cloud models to become more agile and gain speed to market.”