Luxembourg-based Rakuten Europe Bank has gone live on Temenos core banking system to support its European growth strategy.

Rakuten has centralised the payment activities of its European e-commerce platforms from Luxembourg.

Temenos said that the implementation of its system, carried out in collaboration with Luxembourg-based Syncordis, will allow the bank to expand its footprint in Luxembourg and Europe by adding banking services to a broader community of B2B and B2C clients.

The technology vendor said that its core banking system supports compliance with local regulations.

Rakuten Europe Bank chief technology officer and chief product officer Nabil Meziani said: "We are excited by the business challenges we face; the market potential is immense and we believe that Temenos solutions, and our close working relationship with them, will give us the right level of flexibility and expertise to support our growth plans."

Temenos regional director Steen Jensen added: "We strongly believe in the future of transaction banking, and we are convinced that Rakuten's value proposition and aggressive strategy, together with Temenos' scalable, flexible core banking solution, will contribute to increase the importance of this business and will be instrumental in this bank's success."