Success story
Banco de Corrientes
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Banco de Corrientes growing fast alongside Bantotal

With a platform fully developed in GeneXus, Banco de Corrientes was able to climb up 23 positions in the national ranking of banking institutions.

Bantotal is a software solution that enables the comprehensive processing of all operations inherent to financial entities (Core Banking Solution), providing functional support for every product and service that banks make available to customers. At present, this solution built entirely with GeneXus covers over 40% of the financial market, and supports thousands of daily transactions in Argentina. 

After installing the technology tool in 2009, Banco de Corrientes moved up from 55th to 32nd position in the Net Worth ranking published yearly by the Central Bank. And changes were not a fact only in relation to this variable; in what concerns lending capacity, an advance was achieved in the national ranking, going up 9 ranks in a 5-year period. A considerable performance was attained in relation to deposits as well. Upon such progress made, Fortune magazine, a publication specializing in financial issues, ranked Banco de Corrientes in a proud 18th position among the top 40 nationwide, from the list of 82 credit institutions that currently operate in Argentina.

“Thanks to the flexibility and easy management allowed by GeneXus tools, Bantotal has been adopted by Banco Supervielle, Banco Patagonia and Banco Provincia de Neuquén, and in all cases with great success,” affirmed Matías Labombarda, marketing manager at Toolnology, GeneXus’ main distributor in Argentina.

Becoming part of the technology revolution

Banco de Corrientes started its search for a new core banking solution in 2007, when all its systems from the 80s and 90s had already become obsolete. Aware of the product’s renowned efficiency, Banco de Corrientes called upon ACCION POINT -Bantotal Core Banking representative in Argentina- to participate in a selection process towards the system renewal. 

After considering the demands from the Board of Directors and the Key Users Committee, Bantotal was the final choice. A Memorandum of Understanding was signed in November 2008 with Banco de Corrientes for establishing a 45-day period in order to define the closing numbers. The production cutover finally took place in November 2009, covering 30 service points which represent approximately 600 users and 100,000 customers.

This tool has enabled Banco de Corrientes to have full web contents aligned with the standards of financial entities, and has also added the possibility of online accounting records in real time, with support in a centralized operation and extremely low costs in what regards connectivity and software maintenance. Because this software was built with a tool like GeneXus, Banco de Corrientes has been allowed the option to choose the definitive platform (Language and Database) that is most convenient to them, as well as automatic maintenance for the application.

“A tool was also installed for managing the life cycle of applications generated with GeneXus, in addition to agreements signed with several universities in the City of Corrientes meant to donate the GeneXus tool, and training offered to students aimed at creating an internship plan for the inclusion of GeneXus developers,” explained Labombarda. This has made it possible for all changes in the client layer since 2011 to be implemented with the Bank’s own human resources.

As of this date, Banco de Corrientes carries out close to 2 million daily transactions, all of which are entirely managed with GeneXus. Besides the Bantotal business core, all other systems used to include specific expertise are fully integrated with it. This has allowed, besides the improved positions in the national rankings, the possibility of further and quite significant advances in the time-to-market of new products, as well as in customer service.
  • It went up 23 positions in the Central Bank’s national ranking, during a 5-year period