Banco Galicia's Digital Transformation with SAP and IBM

Banco Galicia, one of Argentina's top three private banks, faced a significant challenge in improving the time-to-market for new financial products and services. The bank's legacy IT applications and systems were unable to support the rapid changes required to stay competitive in the market. The bank's existing software, which had been in place for over 20 years, was largely developed in-house and designed to meet past banking needs. However, the proposed new services required a customer-focused approach, and the older software could not be extended or adapted rapidly enough to provide the necessary capabilities. The bank serves a large client base, from individuals to large corporations, each with specific requirements. The existing IT systems were not flexible enough to differentiate the bank's approach to each client. The challenge was to modernize the IT infrastructure to meet the requirements of a 21st-century bank and compete with the world's major banking corporations.

Founded in 1905, Banco Galicia is headquartered in Buenos Aires, Argentina, and employs more than 5,000 people. Listed on the Buenos Aires Stock Exchange, Banco Galicia is one of the country’s top three private banks. The bank serves a large client base, from individuals to large corporations, each with specific requirements. Argentinian banks are required to offer services and products such as current accounts, savings, and fixed-term investment accounts. Because all banks provide the same product range, it is particularly important for a private bank such as Banco Galicia to develop additional, unique services to help it differentiate itself from competitors.