EastWest Bank, a major player in the Philippine banking sector, has partnered with technology firm Temenos to overhaul its core banking operations through the implementation of the latter’s Software as a Service (SaaS).
This collaboration is part of EastWest’s strategy to refine customer experience, advance digital transformation, and offer innovative financial services with enhanced operational efficiency and scalability.
EastWest chief technology officer Barani Sundaram said: “At EastWest, our customers are at the heart of everything we do. Temenos SaaS is a crucial step in our digital transformation journey, as it allows us to offer a more seamless and personalised banking experience—whether through our mobile app, branch network, or customer support channels.
“By modernising our core banking systems, we are ensuring that we can continue to meet the evolving needs of our customers while staying agile in a fast-changing financial landscape.”
Through the deployment of Temenos Core across its Retail, Small and Medium-sized Enterprises (SME), and Corporate divisions, EastWest seeks to provide a more streamlined and secure banking service to its customer base of over three million across 400 locations nationwide.
Shifting to a SaaS model is expected to improve the bank’s operational agility and infrastructure resilience.
Temenos APAC managing director Will Dale said: “We are proud to partner with EastWest, a major player in the Philippine banking sector, to transform its core banking in the cloud.
“The bank was looking for a SaaS solution that combined deep functionality and the latest technology, which is where Temenos excels. We look forward to supporting EastWest in driving the next phase of their impressive growth.”
Last week, Temenos introduced the Temenos FCM AI Agent, an advanced artificial intelligence-driven screening solution. This tool assists organisations in the detection, investigation, and prevention of sanctions violations by analysing global and domestic watchlists while reducing false positives.
While the industry averages false positive rates between 5-8%, initial implementations of the Temenos FCM AI Agent have demonstrated rates below 2%, claimed Temenos. This improvement is designed to enhance customer satisfaction, reduce compliance risks and costs, increase employee productivity, and generate additional revenue streams for financial institutions.
