Liberbank and Accenture Enter Strategic Agreement to Transform the Bank’s Core Banking Applications
MADRID; May 19, 2014 – Liberbank has signed a ten-year contract with Accenture (NYSE: ACN) to transform and optimize its core banking applications as part of the bank’s strategy to increase operational efficiency and business agility and optimize return on technology investments.
The agreement will help Liberbank gain greater operational flexibility by optimizing its technology costs, implementing a more efficient delivery model based on service-level standards, and ensuring access to innovation and upgrades based on new market trends.
The two companies have created a joint venture to deliver the services, which include development and maintenance of existing and new core banking applications that support Liberbank’s entire banking operations – from deposits to client account, credit and bank guarantee processing operations – as well as its customer relationship management and information management systems.
“This agreement is a major step forward in the technology transformation that Liberbank needs to undertake to better serve its customers,” said Orlando Sánchez Jardón, Chief Operating Officer, Liberbank. “It will allow Liberbank to implement core banking processing best practices and benefit from latest technologies. Accenture’s long-term commitment and its leadership position in core banking services make it the ideal business partner for this highly strategic initiative for Liberbank."
“Through this agreement Liberbank will have a more flexible technological model, improved IT efficiencies, and greater access to technological innovation,” said Fernando Rufilanchas, a managing director in Accenture’s Financial Services group. “It will also offer competitive advantages within an industry that is undergoing radical transformation.”
As part of the agreement, employees from Liberbank and Accenture will transfer to the new company.
The project is supported by Accenture Core Banking Services.
Accenture has worked with Liberbank for over 13 years. Most recently, it supported the integration of Liberbank with several saving banks. Accenture also helped implement Alnova, Accenture’s core-banking technology platform, at all the institutions that now comprise Liberbank; that platform supports Liberbank today.
Liberbank is a financial institution that was incorporated in 2011, with the integration of the banking businesses Cajastur (that formed part of CCM), Caja Cantabria and Caja de Extremadura, which has been listed on the stock exchange since May 2013. Liberbank is leader in its traditional markets, with assets of €43,000 million and a nationwide sales network of 1,070 offices.
Accenture is a global management consulting, technology services and outsourcing company, with approximately 289,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$28.6 billion for the fiscal year ended Aug. 31, 2013. Its home page is www.accenture.com.
Accenture Core Banking Services is a business service within Accenture financial services group that has helped design and implement core banking systems for more than 200 institutions globally.
José Luis Sánchez
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