Peru’s Mibanco Signs for Temenos SaaS to Modernise Core Banking

Banco de la Microempresa S.A. (Mibanco) — Peru’s largest microfinance bank — has selected Temenos SaaS to modernise its core banking platform as part of a major digital transformation initiative. Mibanco, which serves more than 1.9 million active customers and manages approximately PEN 18.2 billion (roughly USD 5.4 billion) in assets, will implement Temenos Core and Temenos Data Hub under a Software-as-a-Service model to accelerate product launches, enhance customer experience and improve operational efficiency. The SaaS deployment will run on Microsoft Azure, giving the bank a flexible, scalable infrastructure to support its retail and small business operations.

The move reflects a wider trend among financial institutions in Latin America toward cloud-native core systems that reduce legacy constraints, streamline processes and enable rapid introduction of new banking products — particularly for underserved segments such as micro, small and medium-sized enterprises (MSMEs). Mibanco, part of the Credicorp Group, joins a growing list of banks upgrading core operations with modern, cloud-powered banking software to support digital growth.

Key Highlights

• SaaS modernisation: Mibanco adopts Temenos Core and Temenos Data Hub on a SaaS model to streamline core operations.
• Cloud deployment: The solution will run on Microsoft Azure to enable scalability, agility and unified cloud governance.
• Customer focus: The upgrade aims to accelerate time to market, improve digital experiences and boost operational efficiency.
• Broad customer base: Mibanco serves micro, small and medium-sized enterprises across Peru, where millions remain underserviced by formal banking.
• Part of Credicorp: The bank is a subsidiary of the Credicorp Group, which also owns Peru’s largest bank and various financial services units.
• Regional trend: Latin American banks increasingly adopt cloud-based core systems to compete and innovate.

What the Temenos SaaS Deal Entails

Modernising Core Banking with SaaS

Mibanco’s agreement with Temenos entails replacing or significantly upgrading its legacy core systems with Temenos SaaS solutions, including the Temenos Core platform — a modular suite that handles deposits, loans and customer accounts — and the Temenos Data Hub, which consolidates customer and transactional data for reporting, analytics and improved customer service workflows. By choosing a SaaS deployment, Mibanco gains flexibility and predictable upgrade cycles while shifting the infrastructure management burden to the vendor and cloud provider.

The SaaS model also enables a speedier innovation cycle, with new products and services able to be introduced more quickly, helping Mibanco better meet the evolving needs of its customer base. This is especially important in the microfinance sector, where agility and efficient digital services can drive deeper financial inclusion and competitive advantage.

Why This Matters

Supporting MSME Banking and Financial Inclusion

In Peru, micro, small and medium-sized enterprises make up the overwhelming majority of businesses, yet many remain unbanked or underbanked. By adopting a modern cloud-based core platform, Mibanco aims to expand the reach and reliability of its financial services, enabling faster, more dependable digital transactions and enhancing the quality of its offerings to MSMEs and retail customers.

Accelerating Innovation

Legacy core systems — often rigid and costly to maintain — can hinder banks from launching new products or integrating digital channels efficiently. Temenos SaaS promises reduced operational overheads and greater agility, helping Mibanco compete more effectively with digital challengers and meet rising customer expectations for seamless banking experiences.

Cloud-First Strategy

Running the solution on Microsoft Azure underscores a broader shift toward cloud-native infrastructures in the financial sector. This enables better resource utilisation, enhanced security, and unified visibility across cloud investments — all critical in fast-moving digital transformation programmes.

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