GarantiBank International in the Netherlands, a unit of Spain’s BBVA Group, has gone live with Five Degrees’ Matrix solution to drive operational efficiency in its retail banking business.

The Matrix solution was used to automate the bank’s middle office operations, combined with a front-end portal from Dutch firm Iquality.

The vendor said that the solution coordinates all flows between the customer front-end and the back office, manages customer on-boarding processes, and serves as the single retail customer database supporting relationship and document management.

The bank is now weighing plans to adopt the Matrix solution for its savings and deposits business in Germany.

GarantiBank member of the managing board Ozgen Simons said: "Operational cost reduction through efficiency gains from straight-through paperless processes will be significant."

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By GlobalData