ProCredit group has chosen Kondor Up by Teciem to modernize its treasury infrastructure. The move supports the group’s continued investment in scalable and modern banking technology. The agreement is an important milestone for Teciem. It also reflects a growing demand for cloud-first treasury technology across financial institutions. Built on the proven Kondor platform and its treasury and risk management capabilities, Kondor Up is a true multi-asset solution. The platform enables funding, liquidity management and trading across banking activities.
Simultaneously Kondor Up introduces a cloud-native operating model. This approach enables scalability, automation and continuous innovation across treasury functions. This enables financial institutions to pursue faster rollout and better operational efficiency. They also have the flexibility to take advantage of ongoing access to technology enhancements as their needs evolve.
Commenting on the decision to partner with Teciem and deploy Kondor Up, Christian Dagrosa, Management Board Member and Chief Financial Officer, ProCredit Holding AG said: “Teciem demonstrated a deep understanding of our strategic objectives and showed clearly how Kondor Up could meet our precise requirements. The platform’s front-to-back treasury capabilities will help us drive greater automation across our operations while providing flexibility to support new products, broaden our offering and underpin our future growth ambitions.”
Supporting ProCredit Group’s International Banking Network
Capital adequacy, reporting and risk management of 10 commercial banks under ProCredit group. These banks operate in South-Eastern and Eastern Europe. So the group needed a complete treasury platform that could support its strategic objectives. It also needed infrastructure, which could scale across its international banking network.
Kondor Up offers the flexibility of a cloud deployment across the group. Also, the platform can support country-specific requirements and local regulatory requirements. This combination gives ProCredit group a consistent treasury capacity across its banking entities. At the same time it can allow for differences in local markets and regulations. The deployment is also part of the group’s wider initiatives to improve operational processes. Additionally, the platform can help lay a stronger foundation for future banking products.
Teciem Advances Cloud-Native Treasury Technology
Wissam Khoury, CEO of Teciem, said: “ProCredit group’s decision to deploy Kondor Up, the next evolution of our market-leading treasury platform, is an important milestone for Teciem. Combining decades of trusted functionality with a modern, cloud-native operating model, Kondor Up enables teams to simplify operations, accelerate transformation and focus on strategic priorities while benefiting from continuous innovation and AI-readiness. We are proud that ProCredit group is among the first organizations to embrace this new generation of treasury infrastructure and look forward to a long-term partnership that delivers lasting value supporting its evolving business needs and growth ambitions.”
Teciem continues to focus on the financial services infrastructure of the future. The company is also a part of the Cloud Native Computing Foundation. The Cloud Native Computing Foundation is the global steward of cloud native standards. By joining this community Teciem can align its approach with the well-known cloud native practices.
The company is committed to providing one single-tenant, secure platform. The architecture allows for segregation of data, resiliency and scalability, while following Kubernetes best practices. This allows financial institutions to leverage a modern infrastructure model for demanding treasury environments. The approach also strengthens operational resilience across growing banking networks.
How Industry Sees Cloud-Native Treasury
Financial services continue to be shaped by cloud-native treasury technology. Banks are looking for more and more infrastructure that can support automation and changing operational requirements. Modern treasury platforms can also provide greater flexibility for analytics and emerging technologies. Those capabilities can assist financial institutions in adapting to changing market and business needs.
Reinforcing the importance of the approach taken by Teciem, Anish Shah, Research Director, Chartis Research said: “Cloud-native architecture is redefining modern treasury; delivering the scalability and agility institutions need, while providing real-time access to continuous innovation across analytics, automation and AI.”
Kondor Up expands with ProCredit group implementation in modern treasury infrastructure. The platform combines traditional treasury functionality with cloud-native technology. The agreement also underscores a growing focus on scalable treasury management across international banking. The technology will in the future support the changing operational and growth needs of the ProCredit group.
Explore Finance Tech News for the latest innovations in financial technologies and expert insights shaping the future of digital finance!
News Source: PRNewswire.com
