Temenos chosen by Segura Bank as ‘foundation’ of new LatAm digital bank

Ellie Duncan
23 Jun 2023

Puerto Rico-based Segura Bank has selected Temenos’ banking platform to power a new digital bank in the cloud, which will serve mid- to high-earners in Latin America.

Segura Bank will run Temenos’ banking platform on Microsoft Azure to be able to create new banking services and products at speed and at a lower cost.

The new digital bank will feature US dollar financial products, to help protect customers from potential currency fluctuations and devaluation. Segura said it also enables easier international transactions and access to global markets denominated in US dollars.

Juan Zambrano, chief executive officer of Segura Bank, said: “Temenos offers a market leading cloud banking platform and proven expertise across the LATAM region.

“On the Temenos platform, we can build our new digital bank with confidence, and look forward to offering the stability of the US dollars to our key audiences in LATAM as we grow Segura Bank.”

Segura’s new bank is expected to be fully operational in a few months.

Rodrigo Silva, senior vice president – sales, Latin America and the Caribbean at Temenos, added: “We are delighted that Segura Bank has selected Temenos as the foundation for its growing operation to provide banking services across the rapidly growing markets in Latin America.

“By running our banking platform on the public cloud, the bank will benefit from greater agility, higher performance, scalability, and security.”

Segura Bank is licensed by Puerto Rico’s financial services regulator, the Office of the Commissioner of Financial Institutions, as an “Entidad Financiera Internacional”.

Back in December 2022, Temenos, which is an open platform for composable banking, granted license rights to NdcTech, one of its largest regional system integrators partners, to expand the market reach of ‘Temenos Country Model Banks’ in seven Middle Eastern countries.