Praxia Bank has signed an agreement to deploy the Temenos digital banking platform.

The platform will support the banks’ growth in lending and consumer credit services.

The implementation of Temenos T24 Core Banking will support Praxia’s launch as a challenger bank in the country. In addition, the process will be carried out as a greenfield project.

Praxia aims to offer multiple digital products and services to the customers. Those services include deposits, auto loans, consumer lending as well as SME lending business.

Furthermore, it aims to achieve a loan portfolio of €4bn by 2022.

Praxia Bank CEO Anastasia Sakellariou said: “As a startup bank, we are starting fresh to build a bank with the customer experience in mind, and without being weighed down by legacy technology.

“We chose Temenos to help us build the bank we envisioned. They are the market leader for core banking, providing proven products and bringing deep domain knowledge of country-specific requirements to the table.

“With Temenos, we will be able to offer our customers a digital experience that is second to none, and a competitive alternative in Greece.”

The bank was seeking a technology partner to deliver its digital-first vision supporting a complete digital onboarding process.

In future, it also plans to roll out a network of retail stores and business hubs.

Temenos T24 Core Banking platform will provide Praxia with a complete digital end-to-end solution.

It will help to offer consistent user experience to its retail and corporate consumers across brick-and-mortar centres and online channels.