GarantiBank International NV (GBI), a member of the BBVA Group, received an innovation award at the Outsystems Annual “NextStep” Event in Utrecht, the Netherlands. GBI won the prize for being the first bank in the Netherlands to obtain the consent of the Dutch Central Bank to bring its core banking processes to the cloud.
The prize honors the most innovative cloud-based implementation of Outsystems in the Netherlands. Cloud-based digitization of processes, from the first contact with clients to contract execution is being enabled under GBI’s engagement concept system.
GBI’s cloud-based digitized core banking processes include, for the time being, Treasury Order Management (TOM), covering forex-spot, forex-forward, forex-swaps and fixed income products, as well as Client On- boarding, as the first step in the full digitization of the Client Lifecycle Management (CLIM) processes. These processes are all running in production on Outsystems’ platform in the Amazon Cloud.
Garantibank International NV has been awarded for being the first bank in the Netherlands to obtain the consent of the Dutch Central Bank to bring its core banking processes to the cloud.
According to Marco Witteveen, GBI’s Chief Operating Officer: “We are focusing on digitization to improve processes and enhance client experiences. We transform our core banking processes onto cloud-based platforms in an Agile way and aim to further enhance the service quality and operational excellence we offer to our clients.”
GBI is a mid-sized Dutch bank offering transactional banking products since 1990 and serving retail, corporate and institutional clientele. BBVA, GBI’s parent company, is a customer-centric global financial services group founded in Spain in 1857. BBVA serves 72 million customers in more than 30 countries around the world and relies on technology as a key sustainable competitive advantage.