Temenos announced that CEC Bank, the third largest bank in Romania, has selected Temenos to modernize its retail and corporate core banking systems, https://ffnews.com/ informs. The state-owned bank is migrating from legacy systems to Temenos’ core banking platform including best-of-breed solutions for payments and data analytics. This transformation will enable CEC Bank to drive faster time to market, operational efficiency and business agility as it looks to further strengthen its position in the Romanian banking market. CEC Bank chose Temenos for its comprehensive functionality across retail, corporate banking and payments on a scalable, cloud-ready platform. Temenos Payments will be used for all domestic and cross-border payments. The bank will also benefit from Temenos’ flexible, API-based architecture, to simplify integration with its existing ecosystem and accelerate innovation with third-party services. Established in 1864, CEC Bank serves over 2 million retail, SME and corporate customers via digital channels and a network of more than 1000 branches across Romania. The bank plays a key role in delivering government programs, such as the disbursement of EU funds, while continuing to launch forward-thinking solutions such as QR code-enabled ATM withdrawals. The core banking and payments modernization project will be delivered in collaboration with Tech Mahindra and SoftCentric to ensure a smooth transition and market-specific implementation. Daniel Calin, CIO, CEC Bank, said: “Modernizing our core banking and payments infrastructure with Temenos will enable CEC Bank to deliver improved products and superior experiences for our customers. Temenos offers a best-in-class core banking solution and unifying our business lines on their agile platform will help us to scale more efficiently and innovate faster as we drive the future growth of our business.” Mark Yamin-Ali, Managing Director, Europe, Temenos, commented: “We’re delighted to be partnering with CEC Bank on this strategic project, which will help one of Romania’s largest banks to streamline its operations, increase automation and deliver faster time to value. Temenos, together with our delivery partners Tech Mahindra and SoftCentric, offers a proven path for transformation and adoption of modern banking technology. Powered by Temenos, CEC Bank is well-positioned to strengthen its leadership and drive innovation in the Romanian market.”
The United States has temporarily suspended the implementation of the Electronic System for Travel Authorization (ESTA) for Romanian citizens as it conducts a review of Romania’s recent designation into the Visa Waiver Program (VWP). The US Department of Homeland Security (DHS) announced that the review is aimed at ensuring compliance with the VWP’s security requirements. […]
A team of students from the Faculty of Economics and Business Administration (FSEGA) at Babeș-Bolyai University (UBB) in Cluj-Napoca won the gold medal at the 29th edition of the international economics case study competition titled ‘NIBS Worldwide Case Competition.’ The competition held in Nanchang, China, brought together 16 university teams from 13 countries, qualified through […]
Metrorex, the public authority managing Bucharest’s subway system, will install protective panels on platforms, starting with the Line 4 (Gara de Nord 2 - Gara Progresul) currently under construction, Profit.ro reported. The new stations will be equipped...
Romania has the lowest budget allocation for research among European Union (EU) member states, according to the latest infographic published by the Social Monitor, a project of the Friedrich Ebert Foundation Romania. In 2023, Romania allocated just...
Pavel Popescu, the vice president of media regulator ANCOM, said in an interview with Politico published March 24 that Romania is fighting an information war with Russia to stop election meddling, and not censoring speech, as many US officials and figures like Elon Musk have said. The Politico article names Romania “ground zero in a […]
More than 2,300 military personnel from Romania and 11 allied nations, namely Albania, Bulgaria, Canada, France, Greece, Italy, the Netherlands, Spain, the United Kingdom, the United States, and Turkey, will take part in the multinational military exercise Sea Shield 25, set to take place from March 31 to April 11. Training sessions will be conducted […]
