CEC Bank Sets a New Standard of Excellence in the Banking Industry


A recent Aurachain success story is the new digital banking solution announced by CEC Bank. It’s a financial institution that’s been around since 1864 and can proudly associate itself with the longest tradition in Romania and the largest national network presence, with over 1,000 branches and territorial units.

Digital transformation has had a major impact on the global banking and finance industries in recent years, with new players and demand from customers fueling the pressure for traditional institutions to move towards a digital-first approach.

To keep up with the pace of change, CEC Bank knew it had to be able to increase its agility and accelerate its delivery of innovative, customer-centric solutions. That’s why the bank decided to use our low-code platform to power its transition towards modernization and digitalization

Key Highlights 

  • CEC Bank becomes the first banking institution in Romania that allows the opening of online accounts for companies with a complex shareholding structure.
  • 100% digital registration with seamless process flows, from the moment an applicant signs up to the moment product contracts are signed with a qualified electronic signature.
  • Automated Know Your Customer process in total compliance with the policy. The identity and the profile of every applicant is verified, to avoid any potential risk.
  • Fully integrated onboarding journey with different fiscal authorities, identity checks, and document scans.

Using the Aurachain low-code platform, CEC Bank teamed up with our partner KPMG to design, build and implement a solution that provides 100% digital current account packages for legal entities, SMEs, and PFAs.

In addition, CEC Bank is the first institution in Romania that allows the opening of online accounts for companies with a complex shareholding structure. In particular, companies with international shareholders residing outside of the E.U. would previously experience difficulties when setting up new accounts.

The service serves as further evidence that the decision to use low-code technology is already providing a competitive edge for CEC Bank within the Romanian banking market.

This is the second of three projects that the bank aims to use our low-code platform to implement this year, the first being an integrated system for the monitoring and maintenance of the bank’s entire ATM and POS fleet.

“We are accelerating investments in technology and providing omnichannel experiences and bringing banking and SME banking services to the digital area, after last year we launched the first digital products for individuals. The Omnichannel, the fully integrated approach through which customers have a unified online and in-unit shopping experience, will gain more and more ground. In an increasingly digital world, it is natural for banking to become more accessible and efficient.”Bogdan Neacșu, General Manager of CEC Bank.