Cetelem is a banking institution, part of the BNP Paribas’ personal finance division, specialized in providing consumer, real estate, and car loans; credit cards; saving accounts; and insurance products in more than 20 countries in Europe, in addition to Asia/Pacific and Latin America. Founded in 1953 in France as a financial partner to major retail groups that supported their growth by making consumer credit easily available, it has grown to become a leading consumer-finance bank in continental Europe.
Cetelem España, the Spanish division of the brand, was established in Spain in 1988. Today it is a leader in the Spanish consumer credit market with more than 2.5 million customers and 4,000 points of sale across Spain, growing by 272,000 customers in 2012 alone. As of December 2012, Cetelem España managed 400,000 credit cards, representing more than US$5 billion in outstanding risk exposure.
“During the first selection round, we eliminated vendors that could not meet our requirements. The second round consisted of a formal request for proposal to Oracle and IBM. Oracle not only offered the superior solution, both in terms of performance and scalability, but also presented important economical advantages. We forecast cost savings within three years that will be nearly 4x as high as the combined investment in Oracle technology,” said Ricardo Fargallo, enterprise architect, Cetelem España Grupo BNP Paribas.