October 27, 2010

Caja de Ahorros del Mediterrneo, one of Spain's largest savings institutions, and Accenture have implemented Accenture's Alnova Financial Solutions core banking platform to support the banks operations in Spain.

The new system was designed to enhance Caja Mediterrneo's customer services by supporting faster and more flexible bank processes and product rollouts and to reduce operating costs by modernizing and consolidating the banks systems. By broadening CAM's multichannel capabilities in areas such as online and mobile banking, and by expanding the business parameters that can be defined within its systems to develop products, set pricing and segment customers, the new platform will also help the bank more rapidly adapt and expand its business to new markets.

The lack of flexibility of our previous legacy system and the difficulty of enhancing it were hurdles not only to delivering the product and service innovations we wanted for our customers, but to our broader growth objectives, said Juan Carlos Server, CIO of CAM.

CAMs new system was deployed across all of the banks business units in Spain and supports a full range of operations, including product development and deployment, pricing strategies, customer data management and business development.