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Rakuten Europe Bank deploys Temenos core banking system

Published 27 January 2017

Temenos has announced that Rakuten Europe Bank in Luxembourg has gone live – on budget, on time and on feature - with its core banking system and its multi-channel internet banking solution.

The implementation was delivered in partnership with Luxembourg-based Syncordis

Since its foundation in Japan in 1997, Rakuten Group has engaged in various businesses and services. With the mission of "empowering people and society" through the Internet, the company's goal is to become the number one internet services company in the world. From Luxembourg, Rakuten Europe Bank has already centralized the payment activities of Rakuten's European e-commerce platforms.

This latest successful implementation with Temenos will contribute to increasing the footprint of Rakuten Europe Bank in Luxembourg and in Europe by adding banking services to a broader community of B2B and B2C clients.

The implementation project has delivered a superior core banking system that includes a comprehensive local model bank, which enables them to be fully compliant with local regulations. The flexibility and scalability provided by the Temenos solution will support Rakuten Europe Bank S.A in its ambitious strategy to develop new offerings and enter new markets.

Temenos regional director Steen Jensen said: "We strongly believe in the future of transaction banking, and we are convinced that Rakuten's value proposition and aggressive strategy, together with Temenos' scalable, flexible core banking solution, will contribute to increase the importance of this business and will be instrumental in this bank's success."

Rakuten Europe Bank chief technology officer and chief product officer Nabil Meziani said: "We are excited by the business challenges we face; the market potential is immense and we believe that Temenos solutions, and our close working relationship with them, will give us the right level of flexibility and expertise to support our growth plans."



Source: Company Press Release