Argentine bank Bancor working to migrate data to the cloud

Bancor, a bank owned by Córdoba province in Argentina, is working to unify and migrate its data to the cloud and, in a second stage, apply machine learning and artificial intelligence models.

“We're evaluating different providers. Today we have some solutions in Azure [Microsoft’s cloud], but in everything regarding the data area we're still making assessments,” CTO Gonzalo Rodríguez told BNamericas at Santex Week, the Argentine technology company’s annual event.

The bank has a project planned for 2025 to unify and move to the cloud the “two or three” data warehouses that it has that are currently separate.

Once this step is completed, it will be possible to begin developing some artificial intelligence models that are not currently possible to implement.

Use cases are being evaluated, but they will mainly be related to customization and risk management issues.

Bancor has around 1.5mn customers and 80% of its total transactions are now carried out through digital channels.

Rodríguez said that the bank's roadmap also includes the modernization of these applications and the incorporation of new capabilities and services for both individual and corporate clients.

Together with Santex, the bank worked on developing a unified interface where companies can manage all the processes related to money collection from a single place.

Core banking

Regarding the transformation of its core banking, Rodríguez explained that they are working on “a stabilization process to be able to provide teams with a simpler architecture so they can develop faster and accelerate time to market.”

The bank has five or six legacy applications that form the banking core and that must be modernized to achieve greater agility and security.

Bancor's CTO also underlined that within the technology architecture, there are layers that allow connections with fintechs, startups and other companies.