Minsait and Eurocaja Rural reach an agreement to promote the digital transformation of the financial institution

Minsait, an Indra company, and Eurocaja Rural, one of the largest credit unions by volume of assets and commercial network in Spain, have reached an agreement to ensure the financial institution's transformation process and implement a new transactional platform to provide support to its daily operations.

Onesait Banking Platform, developed by Minsait, will provide Eurocaja Rural with extremely robust and flexible new transaction banking (the technological environment of banking operations), based on four key concepts: maximum offer customization for the bank customer; ease of use; agility in incorporating new services, and scalability.

Minsait's transaction banking will guarantee the growth of the bank in an increasingly digitalized environment, while ensuring compliance with the most demanding security standards. The unique combination of comprehensive management, leadership, digital approach and open-ended scenarios offered by this platform will enable Minsait to collaborate in the technological aspect and Eurocaja Rural to manage the relationship with its customers in a very efficient way.

In addition, the Indra company will pilot the migration to the new technological system and the maintenance and evolution of the platform for 10 years under a Software as a Service model, to cutting-edge quality standards in every sector.

Minsait will also support Eurocaja Rural in the implementation of new business opportunities linked to the digital environment, since the advanced transaction banking will enable, in the medium and long term, the incorporation of new products and services adapted to the expected growth. This will place the financial institution at the forefront of digital banking.

Meanwhile, Eurocaja Rural customers will benefit from a personalized and homogeneous experience, focused on secure access to the most appropriate services to their needs, available 24 hours a day, 7 days a week. A model in which the simplicity of the digital channels comes first.

Although this platform will affect all the processes and operations performed by Eurocaja Rural, from the service it offers in electronic banking to the software installed in its ATMs, it will not have any actual impact on the daily activities performed by its more than 80,000 members and more than 400,000 customers. This was one of the main objectives set by both parties, who thus sought greater transparency while minimizing the impact on their operations. To achieve this, Eurocaja Rural and Grupo Indra have assigned a specific group of highly qualified professionals, putting all available human capital at the service of this revolutionary initiative.

After signing the agreement, Víctor Manuel Martín, executive director of Eurocaja Rural, said that the scope of this new project "shows that innovation and digital transformation in the financial sector is an inexorable process that we undertake with firmness and conviction. We are very satisfied with the service we have been receiving from our current provider, but we intend to strengthen our position by evolving technologically and adapting to the demands of an increasingly complex and changing environment, implementing new resources and tools thanks to Minsait."

Minsait's director for Financial Services, Borja Ochoa, said that "this initiative will bring significant benefits to Eurocaja Rural, such as great agility in the deployment of new products and the establishment of a new management, recruitment and customer relationship model, which will allow Eurocaja Rural to maximize their offer and generate greater value."

Leader in digital transformation of financial services

Minsait has managed successful projects in several countries in the transition from traditional to digital banking models, the deployment of digital banks that complement the offer of an existing bank and the creation from scratch of digital native banks. Among its most recent projects is Wilobank, the first digital native bank in Argentina, which has become a model to emulate in Latin America. The company also assists several Spanish financial institutions in the digital transformation process of their banking operations.

Minsait is the leading company in Spain in technological solutions for banking services and a leader in applications maintenance, banking back office and payment methods. Among its clients are the ten leading Spanish banks. Moreover, it is the first company in Spain in the payment media sector and one of the main global players: it manages more than 21 million cards a year.

About Eurocaja Rural

Eurocaja Rural (www.eurocajarural.es) is a credit union that has its corporate and fiscal headquarters in Toledo. Founded in 1965 under the name Caja Rural Provincial de Toledo to provide financial solutions and contribute to the revitalization of its environment, in 2011 it undertook an ambitious Expansion Plan that allowed it to double both its volume and its high street banking network. Caja Rural currently has almost 400 offices throughout Castilla-La Mancha, Madrid, Avila and the provinces of Alicante and Valencia, the sphere of activity where it operates.

Eurocaja Rural has excellent solvency ratios and solid foundations, and is a model in Spain of best practices in the credit risk management sector. The credit union forges stable and lasting relationships with its clients, which translates into an average account holder retention of almost 14 years, twice the sector average. The Bank follows a traditional banking business model with a clear mission for service and commitment to the development of its sphere of activity, based on cooperative principles and values such as rigor, security, trust, customer service and proximity.

About Minsait

Minsait, an Indra company (www.minsait.com), is the leading firm in Digital Transformation Consultancy and Information Technologies in Spain and Latin America. Minsait possesses a high degree of specialization and knowledge of the sector, which it backs up with its high capability to integrate the core world with the digital world, its leadership in innovation and digital transformation, and its flexibility. Thus, it focuses its offering on high-impact value propositions, based on end-to-end solutions, with a remarkable degree of segmentation, which enables it to achieve tangible impacts for its customers in each industry with a transformational focus. Its capabilities and leadership are demonstrated in its product range, under the brand Onesait, and its across-the-board range of services.

About Indra

Indra (www.indracompany.com) is one of the leading global technology and consulting companies and the technological partner for core business operations of its customers world-wide. It is a world-leader in providing proprietary solutions in specific segments in Transport and Defense markets, and the leading firm in Digital Transformation Consultancy and Information Technologies in Spain and Latin America through its affiliate Minsait Its business model is based on a comprehensive range of proprietary products, with a high-value focus and with a high innovation component. In the 2017 financial year, Indra achieved revenue of €3.011 billion, with 40,000 employees, a local presence in 46 countries and business operations in over 140 countries.