Ecuador’s first digital bank goes live with Temenos core
Diners Club Ecuador, which claims to be the country’s first digital bank, has gone live with Temenos’ core banking, payment and analytics solutions on the cloud with Amazon Web Services (AWS).
Diners Club Ecuador was the first issuer of credit cards in Ecuador, and now claims to process 75% of the country’s debit and credit transactions. With its digital bank, it aims to cultivate relationships with its one million retail and business credit clients, having already granted $14 million in loans so far.
The firm has initially introduced deposit accounts and has plans to offer interest-bearing deposit accounts, advance billing services for businesses, and mortgages.
With Temenos’ analytics solutions, the vendor says Diners Club Ecuador will be able to use predictive models and AI “beyond credit scoring and risk management to understand client behaviours in more depth and provide hyper-personalised services”.
By doing so, the bank will be able to offer customers products based on their personal preferences, including “one-click loans” which the bank has already deployed for its current business clients.
“We wanted to embrace a digital-first model, giving clients the flexibility to access our services online at the click of a button on a 24/7 basis,” says Mónica Carrión, vice president of services centre at Diners Club Ecuador.
Last year, Ecuador-based business group Daxsen unveiled its plans to launch a digital bank – Daxsen Bank – which it said would be the first digital bank in the country.