CEC Bank accelerates digitalization and modernization. CEC Bank will use low-code platform developed by Aurachain to automatize part of the bank activities, in a fast and cost efficient manner.
Low-code technology allows the development of software applications with minimal code intervention, using a visual approach, with drag and drop user interfaces used to add different types of elements such as connection to databases, to other software applications or logic elements, and even blockchain implementations.
CEC Bank initiated a partnership with Aurachain to accelerate the digital transformation of the bank, currently focusing on three areas. The first is the implementation of an integrated system for monitoring and maintenance of the bank’s ATM and POS fleet, the second envisages allowing online onboarding of SME’s (opening accounts), the third targets the implementation of online trade finance solutions for SME’s. These three projects will be implemented this year and come in addition to digitalization initiatives already launched by CEC Bank for private individuals: online opening of accounts and online personal loans available through CEC_In, CEC Bank’s virtual store.
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“The partnership with Aurachain allows CEC Bank to continue its digital transformation and align with the best available technologies worldwide. While online access to banking products is becoming mainstream, current discussions on the future of banking, at international level include public and private blockchain implementations, including involvement of Central Banks. Blockchain technology and distributed ledger solutions instead of centralized databases may foster faster, more secure and more efficient financial services. Low-code solutions can stand at the basis of block-chain technology implementation”, said Bogdan Neacsu, General Manager of CEC Bank.
“Low-code helps organizations achieve an unprecedented speed of digitalization, as most applications can be built with less risk of coding. Business owners, business analysts and tech teams, can work more effectively to achieve a consistent look-and-feel of the numerous enterprise apps which until recently, were mainly the territory of legacy systems. CEC Bank is the perfect representation of a bank which needs to take a very revolutionary approach in the Romanian banking space, to significantly improve client experience. And this is where we bring value”, said Adela Wiener, CEO of Aurachain.
