Peru’s Mibanco selects Temenos SaaS for core banking modernization

Core Insights - Mibanco, Peru's leading microfinance bank, has selected Temenos SaaS to modernize its core banking infrastructure and enhance access to finance for small businesses [1][2] - The adoption of Temenos Core and Data Hub aims to accelerate time to market, improve customer experience, and increase operational efficiency [2][4] Company Overview - Mibanco is part of the Credicorp group and serves over 1.9 million active customers with assets exceeding PEN 18.2 billion (USD 5.4 billion) [3] - The bank focuses on micro, small, and medium-sized enterprises, particularly in underserved and informal sectors, offering a variety of financial services [3] Digital Transformation Strategy - Mibanco's digital transformation will leverage Temenos SaaS to provide an agile and scalable solution, facilitating further expansion in a market where 99% of businesses are classified as micro and small [4] - The bank aims to address the needs of approximately 7 million unbanked businesses and individuals in Peru [4] Technology Deployment - Mibanco will utilize Microsoft Azure for running Temenos SaaS, enabling seamless deployment and a unified commercial view across its cloud investments [5] - The SaaS model allows Mibanco to focus on expanding financial access and driving innovation rather than managing technology [4] Leadership Commentary - Alberto del Solar, Deputy CEO of Mibanco, expressed confidence in Temenos' technology and expertise for the bank's transformation project [6] - Rodrigo Silva, President of Americas at Temenos, highlighted the selection as a testament to the strength and agility of their core banking suite [6]