SinoPac chooses Temenos digital banking solution to enhance digital banking experiences, attract new customers and grow wallet-share
SinoPac partners with Temenos. (Credit: NordWood Themes on Unsplash)
Temenos (SIX: TEMN) today announces that SinoPac, one of Taiwan’s largest banks, has selected Temenos to advance its digital banking capabilities. Temenos digital banking solution on Temenos open platform for composable banking will enable SinoPac to differentiate in a crowded banking market with seamless and personalized digital banking experiences, helping it attract new customers and grow wallet-share.
SinoPac is already one of the most successful banks in Taiwan for digital account acquisition. Its DAWHO account is the first to combine savings, credit cards, wealth management, mortgages, foreign exchange and securities investment within one app.
What sets the bank apart is a deep understanding of customers’ needs and fulfilling their digital journey. With a user-friendly interface, customers can open an account in three steps in just ten minutes. It has garnered around 1.2 million users and high engagement with over 80 per cent active users.
Temenos digital banking solutions will enable SinoPac to continue to enhance the digital customer experience while bringing innovation to the market faster and at a lower cost. SinoPac will implement the enterprise suite of Temenos digital banking functionality, covering the entire customer lifecycle from customer onboarding, account opening and servicing.
SinoPac completed an overhaul of its core banking system with Temenos in 2012. Implementing Temenos digital banking on top delivers a complete end-to-end retail banking solution, combining a flexible product engine and world-class front and middle office transactional capabilities.
SinoPac is a top five bank in Taiwan with a net income in excess of NT$11 billion (US$0.37B) and more than NT$2 trillion (US$67Bn) in total assets.
Source: Company Press Release