Taiwan’s SinoPac Selects Temenos for Seamless, Personalized Digital Banking

Press Releases, September 27, 2022

Temenos – Company

GENEVA, Switzerland – SEPTEMBER 27, 2022 – 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.

Robert Tsai, CIO, Bank SinoPac, commented:

“We chose Temenos to turbo-charge our digital banking initiatives. Customers are showing an increased preference for digital interaction. With our core and digital banking services working seamlessly together on a single platform we can foster innovation and deliver digital experiences to meet our customers’ evolving needs and expectations, faster and at a lower cost.”

Craig Bennett, Managing Director – Asia Pacific, Temenos, said:

“Temenos has a long-standing relationship with SinoPac and so we are delighted the bank has chosen our digital banking solution to further its digital ambitions. SinoPac has achieved tremendous success with its digital offerings and with Temenos it can take that innovation to the next level. Temenos has built a trusted reputation with leading banks in Taiwan and this new win with SinoPac shows our continued leadership and momentum in the market.”