SinoPac modernizes the front-to-back office of retail banking technology with Temenos
SinoPac, one of the largest banks in Taiwan, has selected Temenos, a heavyweight in banking technology, for the modernization of its digital banking software.
The bank is already a long-time user of Temenos’ core banking solution, Transact (the bank implemented it ten years ago), and is now extending the vendor link to the front office.
SinoPac will implement Temenos’ enterprise suite of digital banking functionality, covering the entire customer lifecycle, from customer onboarding, account opening and service. This, says Temenos, “provides a complete end-to-end retail banking solution” to SinoPac.
Robert Tsai, chief innovation officer (CIO) of SinoPac, said the new solutions will “energize” its digital banking initiatives and help meet changing customer needs “faster and more cost-effectively”.
SinoPac is among the top five banks in Taiwan and is at the forefront of digitalization. Its DAWHO account – which has around 1.2 million users and 80% engagement – is the first to combine savings, credit cards, wealth management, mortgages, currencies and investments in securities in a single application.
Temenos’ managing director for Asia-Pacific, Craig Bennett, is confident the bank will take innovation “to the next level” with the help of new technologies.
Also in Taiwan, Shanghai Commercial & Savings Bank (SCSB) is working with Temenos to upgrade its core banking platform.