ProCredit picks Teciem's Kondor Up for treasury overhaul

ProCredit group has selected Kondor Up by Teciem for its treasury operations. The system will be used across the banking group's international network.

The move is part of ProCredit's investment in treasury infrastructure as it manages capital adequacy, reporting and risk across ten development-focused commercial banks in South Eastern and Eastern Europe.

ProCredit wanted a treasury platform that could support group-wide operations while meeting country-level requirements and local regulatory rules in each market. The banking group serves micro, small and medium-sized enterprises, as well as private customers.

Kondor Up is Teciem's latest version of the Kondor treasury platform. It combines the existing platform's treasury and risk management functions with a cloud-native operating model.

The platform covers funding, liquidity management and trading. Its cloud-based structure is intended to support group-wide deployment while allowing for local variations across separate banking entities.

The decision comes as banks continue to review older treasury systems and consider how to standardise operations across multiple jurisdictions. The challenge is often to balance central oversight with local compliance obligations, particularly in regions where banking groups operate under different national rules.

Christian Dagrosa, Management Board Member and Chief Financial Officer at ProCredit Holding AG, outlined the reasons for the choice.

"Teciem demonstrated a deep understanding of our strategic objectives and showed clearly how Kondor Up could meet our precise requirements. The platform's front-to-back treasury capabilities will help us drive greater automation across our operations while providing flexibility to support new products, broaden our offering and underpin our future growth ambitions," said Christian Dagrosa, Management Board Member and Chief Financial Officer at ProCredit Holding AG.

Cloud model

Teciem described Kondor Up as the next stage in the development of the Kondor platform, which has long been used by banks for treasury and capital markets activity. The updated model is designed to give institutions access to the same core functions through a cloud-native structure.

That approach is becoming more common in treasury technology, as banks look for systems that can be deployed across several entities without maintaining separate stacks in each jurisdiction. Vendors have increasingly emphasised automation, operational consistency and easier software updates.

Teciem said its platform is offered as a single-tenant system and follows Kubernetes-based cloud-native standards. The company is a member of the Cloud Native Computing Foundation, which oversees standards and practices for cloud-native software.

Wissam Khoury, Chief Executive Officer of Teciem, linked ProCredit's decision to broader demand in the banking sector.

"ProCredit group's decision to deploy Kondor Up, the next evolution of our market-leading treasury platform, is an important milestone for Teciem. Combining decades of trusted functionality with a modern, cloud-native operating model, Kondor Up enables teams to simplify operations, accelerate transformation and focus on strategic priorities while benefiting from continuous innovation and AI-readiness. We are proud that ProCredit group is among the first organizations to embrace this new generation of treasury infrastructure and look forward to a long-term partnership that delivers lasting value, supporting its evolving business needs and growth ambitions," said Khoury.

Market demand

The agreement also highlights competition among software providers seeking treasury modernisation projects from regional and international banking groups. Banks have been weighing the cost and complexity of replacing older treasury systems against the pressure to improve reporting, risk visibility and operational control.

Teciem said it serves more than 340 financial institutions and their subsidiaries worldwide. Its software portfolio includes products for treasury, capital markets, trading lifecycle management and risk management.

External analysts have also pointed to the shift towards cloud-native architecture in treasury operations. The trend reflects demand for systems that can be updated more regularly and support newer tools in analytics, automation and artificial intelligence.

"Cloud-native architecture is redefining modern treasury, delivering the scalability and agility institutions need while providing real-time access to continuous innovation across analytics, automation and AI," said Anish Shah, Research Director at Chartis Research.