The project will be a greenfield implementation, with Praxia Bank launching as a challenger bank in the Greek market.

The bank plans to grow its SME lending business and aims to offer state-of-the-art digital products and services to consumers, including deposits, auto loans and consumer lending as it aims to grow its loan portfolio to €4bn by 2022.

Praxia Bank hopes to launch a targeted network of retail stores and business hubs and required a technology partner that could deliver on its digital-first vision.

“As a start-up bank, we are starting fresh to build a bank with the customer experience in mind, and without being weighed down by legacy technology,” said Anastasia Sakellariou, CEO at Praxia Bank.

“We chose Temenos to help us build the bank we envisioned because it is the market leader for core banking, providing proven products and bringing deep domain knowledge of country-specific requirements to the table. 

“With Temenos, we will be able to offer our customers a digital experience that is second to none, and a competitive alternative in Greece.” 

Steen Jensen, regional director for Europe at Temenos, said that it was excited to partner with Praxia Bank.

“The leadership team at Praxia has seen an opportunity in the market that they can fulfil in a unique way, and we’re delighted to help them deliver on that vision.”