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Diner’s Club Ecuador Sees First Digital Bank Launched in Country with Temenos

Temenos announced that Diner’s Club Ecuador has gone live with Temenos Core Banking, Payments and Analytics on the cloud with Amazon Web Services (AWS). The completion of the project marks the launch of Diner’s Club Ecuador as the first digital bank in the country.

Diners Club Ecuador was the first issuer of credit cards in Ecuador. It has become its largest provider, processing 75 per cent of the country’s credit and debit card transactions. The company is a franchise of Diner’s Club International, which operates worldwide with an extensive network in more than 200 countries.

To launch its digital bank, Diner’s Club Ecuador selected Temenos’ modern, scalable, cloud-native banking platform. Temenos’ banking platform is readily available on all major public cloud providers. This allows banks to run themselves or as a SaaS solution via Temenos Banking Cloud.

Diner’s Club Ecuador opted to host Temenos banking platform on AWS. It benefitted from 99.99 per cent availability, flexibility to deliver innovative products, and scalability to support growth alongside the launch of new business lines. Diner’s Club Ecuador initially implemented deposit accounts. There were also plans to launch interest-bearing deposit accounts, advance billing services for businesses, and mortgages. The bank has already granted $14million in loans.

Extending use of predictive models and AI

Temenos Analytics will also extend Diner’s Club Ecuador’s use of predictive models and AI beyond credit scoring and risk management. This will help Diner’s Club understand client behaviours in more depth and provide hyper-personalised services. By analysing member behaviour, Diner’s Club Ecuador will be able to offer products based on buying preferences. It will create unique and relevant products like ‘one-click loans’ which the bank launched for current business clients.

Mónica Carrión, vice president of Services Center Club Ecuador, said: “Our mission is to be a lifelong partner for our clients, helping them at every stage of their lives. We wanted to embrace a digital-first model. We want to give clients the flexibility to access our services online at the click of a button 24/7. The standard for banking innovation in Ecuador by partnering is being set following the launch with AWS and Temenos. This is in addition to within the Diners Club International franchise network globally.”

Rodrigo Silva, senior vice president – sales for Latin America and the Caribbean, Temenos
Rodrigo Silva, senior vice president – sales for Latin America and the Caribbean, Temenos

Rodrigo Silva, senior vice president – sales for Latin America and the Caribbean, Temenos, said: “The barriers between e-commerce brands, technology companies, and financial institutions are lowering, opening up a new world of banking. Temenos empowers all participants in the banking ecosystem to operate efficiently, respond to market demands with agility, and deliver compelling experiences.

“We are offering our clients more choice in embracing the cloud through Temenos Banking Cloud as a SaaS offering or by running the platform themselves on any public cloud. By bringing together Temenos’ modern technology on AWS, Diner’s Club Ecuador will offer its clients seamless, hyper-personalised banking services that are revolutionary for our industry.”

Author

  • Francis is a journalist and our lead LatAm correspondent, with a BA in Classical Civilization, he has a specialist interest in North and South America.

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