Case Study: Grupo Bancolombia achieves rapid mobile banking adoption—20,000+ Nequi accounts and 5-minute onboarding—with EdgeVerve (Finacle)

Bancolombia Takes a Digital Leap With Its Nequi Platform

Grupo Bancolombia, the largest commercial bank in Colombia with over US$60 billion in assets and more than 1,070 branches, launched Nequi to reach the mobile-first millennial market and create a branchless, user-centric digital bank. To build this independent digital platform and support rapid, personalized mobile banking, Grupo Bancolombia selected EdgeVerve’s Finacle Core Banking Solution as the technology foundation.

EdgeVerve implemented Finacle using an agile, human-centered approach, integrating CRM, CASA, transaction and ACH modules and connecting 30+ interfaces (via MQ) with on-site and offshore teams to deliver Nequi's services. The result: Nequi went live in March 2016, enabling account opening in under five minutes, cardless withdrawals at around 4,000 ATMs, QR payments at roughly 9,000 outlets, mobile biometric authentication, and more than 20,000 accounts opened within a year.

Grupo Bancolombia