SinoPac, one of Taiwan’s largest banks, has selected banking tech heavyweight Temenos for digital banking software modernisation.
The bank is already a long-standing user of Temenos’ core banking solution, Transact (the bank implemented it a decade ago), and is now extending the tie-up with the vendor to the front-office.
SinoPac will implement the enterprise suite of Temenos’ digital banking functionality, covering the entire customer lifecycle from customer onboarding, account opening and servicing. This, Temenos says, “delivers a complete end-to-end retail banking solution” at SinoPac.
Robert Tsai, SinoPac’s chief innovation officer (CIO), says the new solutions will “turbo-charge” its digital banking initiatives and will help meet evolving customer needs “faster and at a lower cost”.
SinoPac is among the top five banks in Taiwan and at the forefront of digitalisation. Its DAWHO account – which boasts around 1.2 million users and 80% engagement – is the first to combine savings, credit cards, wealth management, mortgages, foreign exchange, and securities investment within one app.
Temenos’ managing director for Asia Pacific, Craig Bennett, is confident the bank will take the innovation “to the next level” with the help of new tech.
Also in Taiwan, Shanghai Commercial & Savings Bank (SCSB) is working with Temenos to upgrade its core banking platform.