Banco de la Nación del Perú live with Temenos core banking system

Banco de la Nación del Perú is live with a new core banking system, supplied by Temenos.

Banco de la Nación del Perú live with Temenos core banking system, fostering financial inclusion in Peru

The cloud-based Temenos Transact platform supports Cuentas DNI, the bank’s new digital account. Two million accounts have been opened so far, with plans to grow to 24 million, the bank says.

“This is the beginning of Banco de la Nación’s modernisation towards digital banking,” comments Liliana Casafranca, account leader from Cuentas DNI at Banco de la Nación del Perú.

The new accounts were created with the identification number (DNI) of each citizen, as part of the Yanapay Individual Economic Support programme to provide government relief funds in response to the COVID-19 pandemic.

Every Peruvian citizen, age 18 and older, with a DNI is automatically allocated a Cuentas DNI, fostering financial inclusion.

Of the two million people who received a Cuentas DNI, more than 1.8 million previously did not have a bank account. It is estimated that only 52% of adults in the country have a bank account.

The bank has approximately 570 branches, 60% of which are located in remote areas of the country.

Banco de la Nación del Perú and Temenos aren’t new to each other. Back in 2014, the bank signed for the vendor’s Temenos CoreBanking (TCB) offering, a high-end retail core banking system sold by Temenos at the time.