The Client
Maduro & Curiel's Bank N.V. (MCB), headquartered in the Netherland's Antilles, has serviced the needs of Carribean consumers since 1917. With 31 branches, 86 ATM's and over 4,000 POS terminals on Curacao, Aruba, Bonaire, St. Maarten and St. Eustatius, it is the largest commercial bank in the Dutch Caribbean. In addition MCB has a full suite of electronic services including Telebanking Voice Response Unit (VRU), retail Internet banking, web site portal (www.mcb-bank.com), e-commerce facility (MCBPLaza), Internet-based cash management facility and electronic loan applications. MCB's main objective has been to integrate responsible and innovative banking at a fair cost to its clients, fairness and security for its employees, exemplary corporate citizenship in its community, and a good return for its shareholders.

The Challenge
MCB wanted to expand its retail banking services with electronic distribution channels such as telephone banking, Internet banking, and POS to help offer differentiated options like bill pay and recharge to their consumers. At the same time, the bank wanted to consolidate its support for AS400 technology, as well as streamline its vendor relationships. The bank sought to leverage application integration both for cost savings, efficiency and customer relationship management purposes. Due to the geography of the bank's branches, the solution required a multicurrency and multilanguage environment.

The Solution
From the early 1990s, Euronet has helped MCB follow through on its strategic plan of providing a suite of products and services that give increased value to the bank's consumers. MCB started with Euronet's core technology, Integrated Transaction Management (ITM)® and ATM Management. With Euronet's modular approach to incremental service offerings, the bank added on Internet Banking and Telephone Banking. In 2001, MCB invested in more value-added services for their customers with Euronet's ATM Recharge product, and in 2002 they plan to activate POS services.

The Results
MCB has leveraged Euronet's software suite to incrementally add touchpoints as the bank has grown. MCB has capitalized on value-added services, while following their strategic plans to consolidate vendor relationships and on their existing AS400 technology. The systematic, integrated approach has enabled MCB to lead their market as an innovative financial service provider.

"Euronet is flexible to our constantly changing needs and permits us to focus our expertise, thereby saving us the cost of expensive additional hardware and support staff," said Seth Cechetto, Maduro and Curiel's Bank CIO. "Euronet has played a key role in helping us develop the electronic products and services, which you would expect from a modern commercial bank with an excellent worldwide reputation."