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When Banco Nación, one of Argentina's largest public financial institutions, wanted to update its fragmented and outdated digital banking infrastructure, the bank faced a significant dilemma. Nación’s existing legacy tech stack created inefficiencies in both customer experience and operational processes, hindering its ability to compete in Argentina’s rapidly evolving financial landscape.
However, as a public entity, Nación needed to balance that imperative to upgrade its systems with complex official approval processes and adherence to strict regulatory requirements throughout the process. In other words, while a major tech overhaul is a daunting prospect for any major bank, it would be even more complicated for Banco Nación.
Core Banking Modernization in Latin America
That’s why the bank knew it needed a banking technology partner with the right mix of tools, expertise and experience to guide it through the critical process of modernizing its systems to better serve its millions of consumer and business customers.
The Galileo solution
After evaluating multiple options, Banco Nación selected Galileo Financial Technologies’ Cyberbank Digital platform to consolidate its legacy systems into a unified, modern digital banking solution. Unlike custom-built alternatives with lengthy development timelines, Galileo's modular, customizable platform offered a balance of scalability, flexibility and rapid implementation—all crucial factors in helping the bank navigate approval/compliance dynamics and market demands.
“Galileo's robust, API-centric digital banking platform supports the flexibility to deliver tailored financial experiences and the scalability to enable accelerated time to market, while navigating an evolving regulatory environment,” said Banco Nación General Manager Norberto Gastón Alvarez.
Open APIs: The Backbone of Fintech Innovation in Latin America
The partnership involved Galileo’s team working closely with Banco Nación’s IT and business units in a unified effort that was highly collaborative, as opposed to a traditional vendor-client relationship. This cooperative approach and iterative development process ensured the solution addressed both technical requirements and business objectives.
Among the key capabilities and enhancements the partners aimed to achieve were:
Efficient implementation of new financial services through modular and customizable components
Highly personalized financial experiences that enhance customer engagement
Seamless integration between corporate and retail banking services
Boosting operational efficiencies by automating manual processes, reducing reliance on third-party vendors
Streamlining high-value transfers and corporate account management
Ensuring compliance with both national and international standards
Delivering enhanced security measures and operational transparency
Measurable results
The partners opted to take a phased approach to the modernization project, first addressing the bank’s corporate client base. The now-complete corporate banking upgrade phase has resulted in significant measurable results, including:
Increased client activation: Saw 25% increase in organic new corporate client growth
Enhanced operational efficiency: Reduced implementation time from months to just four business days
Increased digital engagement: Saw significant adoption and engagement growth across digital services
Cost reduction: Substantial decrease in operational costs through platform consolidation and process automation
As Galileo and Banco Nación look ahead to the retail banking modernization phase, the partners are posted to achieve the following additional goals:
Unify mobile and desktop banking systems for more than 10 million customers
Increase customer base by 20% within the first few months of upgrade
Enhance security measures through advanced fraud detection capabilities
Spearhead innovation and digital transformation initiatives to help modernize Argentina’s financial system
A new standard for Latin American banking
“This partnership demonstrates how large institutions can securely and sustainably achieve efficient digital transformation that supports their customers’ needs and operational goals,” said Gerardo Aguzzi, LatAm VP of Delivery & Customer Success for Galileo. “By modernizing its corporate and retail banking services, Banco Nación is setting a new standard for financial inclusion and digital banking accessibility in Latin America.”
Maximizing Digital Banking Investments: The Business Case Beyond Tech
By rapidly modernizing its infrastructure while maintaining compliance, Banco Nación’s successful technological transformation demonstrates how Galileo’s digital banking solutions can help even the largest financial institutions navigate complex regulatory environments while accelerating innovation and improving customer experiences.
Contact us to learn more about how Galileo can transform your bank’s digital capabilities.
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