Empowering Oriental Bank
When Puerto Rico-based Oriental Bank made several acquisitions that effectively doubled its size overnight, it faced significant post-merger challenges with transforming operations, transitioning technology and tools, training staff and converting $5 billion in assets. To help the bank prepare for its bold new path, it turned to FIS to understand and better serve what was until then a largely unbanked population.
At a Glance
OBJECTIVE
Implement a range of online and mobile banking technologies as well as modernize loan origination.FIS SOLUTIONS
Auto Lending , Consumer Lending , Core Banking , Mobile Banking , Online Banking , People Pay
RESULTS
FIS effected a seamless transition and helped Oriental drive its business forward and reinvent itself with new operating and technology models and lending capabilities that meet the unique needs of millions of Puerto Ricans.Impact
By empowering a largely unbanked population with mobile banking options they can use anytime, anywhere, including rural and remote areas, Oriental transformed the banking experience and became Puerto Rico’s most customer-centric bank.
FIS is a good partner in that they provide the core technology basis to drive our business of banking. And it’s a good partnership."
Oriental is now the third-largest bank in Puerto Rico by deposit and loan volume and is committed to working with FIS and its core technology to power its next phase of growth and providing new banking products and solutions that fit the unique needs of their customers.