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BCP Invests More Than $650M to Modernize its IT Infrastructure with Microsoft and Kyndryl

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Banco de Crédito del Perú (BCP) has partnered with Microsoft and Kyndryl to invest over $650M in modernizing its IT infrastructure with hybrid cloud technology on Azure. This initiative aims to enhance BCP's digital customer experience and maintain top-tier cybersecurity, representing one of the largest tech investments in Latin America's financial sector. BCP's CEO, Diego Cavero, emphasized that this digitalization effort will improve financial inclusion in Peru. Mario Rodríguez from Microsoft highlighted the collaboration's potential to drive innovation and support small businesses. The project will improve BCP's digital channels, benefiting millions of customers with smoother online and mobile experiences. Currently, 72% of BCP's customers are digital, with its mobile banking and Yape applications being the most used in Peru.

Il Banco de Crédito del Perú (BCP) ha stretto una partnership con Microsoft e Kyndryl per investire oltre 650 milioni di dollari nella modernizzazione della sua infrastruttura IT con tecnologia cloud ibrida su Azure. Questa iniziativa mira a migliorare l'esperienza digitale dei clienti di BCP e a mantenere elevati standard di cybersecurity, rappresentando uno dei più grandi investimenti tecnologici nel settore finanziario dell'America Latina. Il CEO di BCP, Diego Cavero, ha sottolineato che questo sforzo di digitalizzazione migliorerà l'inclusione finanziaria in Perù. Mario Rodríguez di Microsoft ha evidenziato il potenziale della collaborazione per stimolare l'innovazione e supportare le piccole imprese. Il progetto migliorerà i canali digitali di BCP, a beneficio di milioni di clienti con esperienze online e mobili più fluide. Attualmente, il 72% dei clienti di BCP è digitale, con le sue applicazioni di mobile banking e Yape che sono le più utilizzate in Perù.

El Banco de Crédito del Perú (BCP) se ha asociado con Microsoft y Kyndryl para invertir más de 650 millones de dólares en la modernización de su infraestructura de TI con tecnología de nube híbrida en Azure. Esta iniciativa tiene como objetivo mejorar la experiencia digital del cliente de BCP y mantener una ciberseguridad de primer nivel, lo que representa una de las mayores inversiones tecnológicas en el sector financiero de América Latina. El CEO de BCP, Diego Cavero, enfatizó que este esfuerzo de digitalización mejorará la inclusión financiera en Perú. Mario Rodríguez de Microsoft destacó el potencial de la colaboración para impulsar la innovación y apoyar a las pequeñas empresas. El proyecto mejorará los canales digitales de BCP, beneficiando a millones de clientes con experiencias en línea y móviles más fluidas. Actualmente, el 72% de los clientes de BCP son digitales, siendo sus aplicaciones de banca móvil y Yape las más utilizadas en Perú.

페루 신용 은행(Banco de Crédito del Perú, BCP)은 마이크로소프트 및 킨드릴과 협력하여 Azure에서 하이브리드 클라우드 기술로 IT 인프라를 현대화하기 위해 6억 5천만 달러 이상을 투자합니다. 이 이니셔티브는 BCP의 디지털 고객 경험을 향상하고 최고 수준의 사이버 보안을 유지하는 것을 목표로 하며, 라틴 아메리카 금융 부문에서 가장 큰 기술 투자 중 하나를 나타냅니다. BCP의 CEO인 디에고 카베로는 이 디지털화 노력이 페루의 금융 포용성을 개선할 것이라고 강조했습니다. 마이크로소프트의 마리오 로드리게스는 협력이 혁신을 촉진하고 중소기업을 지원할 잠재력을 강조했습니다. 이 프로젝트는 BCP의 디지털 채널을 개선하여 수백만 고객에게 더 원활한 온라인 및 모바일 경험을 제공합니다. 현재 BCP 고객의 72%가 디지털로, 모바일 뱅킹 및 Yape 애플리케이션이 페루에서 가장 많이 사용되고 있습니다.

La Banco de Crédito del Perú (BCP) s'est associée à Microsoft et Kyndryl pour investir plus de 650 millions de dollars dans la modernisation de son infrastructure informatique avec une technologie cloud hybride sur Azure. Cette initiative vise à améliorer l'expérience client numérique de BCP et à maintenir une cybersécurité de premier ordre, représentant l'un des plus grands investissements technologiques dans le secteur financier d'Amérique latine. Le CEO de BCP, Diego Cavero, a souligné que cet effort de numérisation améliorera l'inclusion financière au Pérou. Mario Rodríguez de Microsoft a mis en avant le potentiel de cette collaboration pour stimuler l'innovation et soutenir les petites entreprises. Le projet améliorera les canaux numériques de BCP, bénéficiant à des millions de clients avec des expériences en ligne et mobiles plus fluides. Actuellement, 72 % des clients de BCP sont numériques, avec ses applications de banque mobile et Yape étant les plus utilisées au Pérou.

Die Banco de Crédito del Perú (BCP) hat sich mit Microsoft und Kyndryl zusammengeschlossen, um über 650 Millionen Dollar in die Modernisierung ihrer IT-Infrastruktur mit hybrider Cloud-Technologie auf Azure zu investieren. Diese Initiative zielt darauf ab, die digitale Kundenerfahrung von BCP zu verbessern und erstklassige Cybersicherheit aufrechtzuerhalten, was eine der größten Technologieinvestitionen im Finanzsektor Lateinamerikas darstellt. Der CEO von BCP, Diego Cavero, betonte, dass diese Digitalisierungsanstrengungen die finanzielle Integration in Peru verbessern werden. Mario Rodríguez von Microsoft hob das Potenzial der Zusammenarbeit hervor, Innovationen voranzutreiben und kleine Unternehmen zu unterstützen. Das Projekt wird die digitalen Kanäle von BCP verbessern und Millionen von Kunden eine reibungslosere Online- und mobile Erfahrung bieten. Derzeit sind 72 % der Kunden von BCP digital, wobei die mobilen Banking- und Yape-Anwendungen die meistgenutzten in Peru sind.

Positive
  • BCP invests over $650M in IT modernization with Microsoft and Kyndryl.
  • One of the largest tech investments in Latin America's financial sector.
  • Aims to enhance digital customer experience and cybersecurity.
  • Supports financial inclusion and innovation in Peru.
  • 72% of BCP's customers are digital.
Negative
  • None.

Insights

This $650M deal marks a significant strategic investment for Kyndryl, securing a major long-term contract in the Latin American financial sector. The partnership with Microsoft strengthens Kyndryl's position in the enterprise IT services market, particularly in cloud transformation projects. The deal's scale and scope demonstrate Kyndryl's ability to win large enterprise contracts post-IBM separation.

The project's focus on digital banking transformation aligns with growing market demand for modernizing legacy banking infrastructure. With BCP's 72% digital customer base and 27 million daily transactions through Yape, this implementation will be a significant reference case for Kyndryl in the financial services sector. This could lead to similar contracts with other large banks in the region looking to modernize their infrastructure.

The contract's value represents approximately 10% of Kyndryl's annual revenue, providing stable income flow over the five-year period. The partnership with Microsoft Azure strengthens Kyndryl's competitive position against pure-play cloud service providers and traditional IT service companies. The deal's size and scope could serve as a catalyst for similar digital transformation projects in other emerging markets.

The focus on financial inclusion and digital banking modernization positions Kyndryl well in the rapidly growing Latin American fintech market. BCP's strong market presence and digital adoption metrics validate the project's potential impact, potentially leading to expanded opportunities in the region's financial sector.

  • Kyndryl to help enhance BCP's digital customer experience with hybrid cloud on Azure and help to maintain world-class levels of cybersecurity
  • One of the largest technology investments in Latin America's financial sector designed to encourage consumer banking and expand financial inclusion in Peru

LIMA, Peru, Nov. 11, 2024 /PRNewswire/ -- Banco de Crédito del Perú (BCP) has partnered with Microsoft, a leader in cloud solutions, and Kyndryl, a global leader in IT infrastructure services, to modernize BCP's IT systems with hybrid cloud and help Peruvians gain greater access to digital banking services. This agreement represents BCP's investment of more than $650M over five years, making it one of the largest technology investments in Latin America's financial services sector.

"Our purpose is to serve as allies to our customers to help them transform their plans into reality, understanding that financial inclusion provides opportunities for growth. Digitalization can help close the gap, and so BCP, together with Microsoft and Kyndryl, will modernize our technological systems to achieve more agile and flexible applications with world-class levels of stability and security, allowing us to offer a better experience for millions of our customers," said Diego Cavero, CEO of BCP.

Mario Rodríguez, Microsoft´s general manager for Peru, stressed that the joint work between BCP, Microsoft and Kyndryl will transform the country´s financial industry. "This collaboration will not only modernize the sector, but will also create an innovation platform that will drive disruptive projects through artificial intelligence. This will benefit entrepreneurs and small business owners by facilitating access to essential financial services and promoting sustainable growth. Together, we are positioning Peru as a leader in technological innovation at a global scale."

As part of this agreement, BCP will work with Kyndryl and leverage Microsoft Azure to create a hybrid computing environment that will enable the modernization of the bank's IT application environment and improve the agility and availability of its digital channels, generating greater value for the end customer who will benefit from a smoother and faster online and mobile experience.

"The banking sector is rapidly evolving to meet consumer demands and preferences for an improved digital experience. While invisible to the public eye, a modern, agile and robust IT infrastructure is absolutely critical to creating a resilient and accessible experience for today's consumers," said Leandro Peirano, Managing Director, Kyndryl Peru. "We are honored to support BCP in defining its IT modernization strategy and collaborating with Microsoft to bring the bank's vision to life."

This milestone reaffirms BCP's commitment to continue leading digital banking in Peru. Currently, BCP's mobile banking and Yape are the most used banking applications and digital wallets in the country. 72% of BCP's customers are digital and more than 16 million Yape users in Peru use the application at least once a day, reaching 27 million daily transactions on average.

About BCP
Banco de Crédito del Perú is the largest and oldest financial institution in Peru, with a history that dates back 135 years, in 1889. Throughout this time, it has been recognized for its business strength and leadership in the Peruvian market, standing out for its focus on innovation and digitalization. BCP offers a wide range of financial products and services, through which it seeks to be an ally of its customers, collaborators and country so that they can transform their plans into reality. For more information, please visit: https://www.viabcp.com/.

About Microsoft
Microsoft (Nasdaq "MSFT" @microsoft) builds AI-powered platforms and tools to deliver innovative solutions that meet the evolving needs of our customers. The tech company is committed to making AI widely available, responsibly, with a mission to empower every person and every organization on the planet to achieve more. For more information, visit www.microsoft.com

About Kyndryl
Kyndryl (NYSE: KD) is the world's largest IT infrastructure services provider, serving thousands of enterprise customers in more than 60 countries. The company designs, builds, manages, and modernizes the complex, mission-critical information systems that the world relies on every day. For more information, visit www.kyndryl.com.

Press Contacts
For BCP: claudiaespinozad@bcp.com.pe
For Microsoft: sylvie.duchamp@microsoft.com
For Kyndryl: Johanna.eunice.fernandez.borrero@kyndryl.com  

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SOURCE Kyndryl

FAQ

What is the amount BCP is investing in IT modernization?

BCP is investing over $650M in IT modernization.

Who are BCP's partners in this IT modernization initiative?

BCP's partners are Microsoft and Kyndryl.

What are the main objectives of BCP's IT modernization?

The main objectives are to enhance the digital customer experience and maintain top-tier cybersecurity.

How will BCP's IT modernization impact its customers?

It will improve the agility and availability of digital channels, offering smoother online and mobile experiences.

What percentage of BCP's customers are digital?

72% of BCP's customers are digital.

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