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Customer Snapshot: Overview

260 bank branches, and 820 ATM's

With millions of customers, Banco Galicia is a top private bank for local capital in Argentina. Given the country’s rocky economic environment since the late 1990s, managing risk to protect their customers is one of the bank’s primary objectives. To ensure that they had a robust and secure IT infrastructure, the bank embarked on a core IT transformation in partnership with SAP.

Banco Galicia

US$1.6 billion (2012)

Number of Employees
12,000 (2014)

Line of Business
Sales, Service

Buenos Aires, Argentina

Customer Website

Implementation Partners
SAP Consulting organization


SAP Solutions

SAP Active Global Support, SAP Digital Business Services (DBS), SAP Consulting, SAP Enterprise Portal, SAP ERP, SAP Process Integration, SAP Risk Management, SAP solutions for governance, risk, and compliance (GRC), SAP Supply Chain Management (SAP SCM)

Customer Snapshot: History

A Trusted Institution in Rocky Economic Times

Argentinians are no strangers to economic insecurity. The Argentinian economic crisis of the late 1990s came to a head in 2001 when a run on the banks hit the country like a tidal wave. But since 1905 Banco Galicia has been providing safe and secure banking services to their customers. It is no surprise that they were able to fully recover in just two years and maintain their position as one of the country’s largest and most stable financial institutions.

Customer Snapshot: Business Model

A Pioneer in Technology and Customer Convenience

As a universal bank, Banco Galicia offers a broad range of financial services to approximately 7 million individual and business customers. Operating as one of the largest and most diversified distribution networks in the Argentine private financial sector, they have approximately 650 branches and electronic banking centers across the group. 

Banco Galicia customers also have access to phone and online banking services through Galicia Móvil and – the first mobile phone payment service and financial internet portal set up by a bank in Argentina.

Customer Snapshot: Success Strategy

Fostering Economic Success and Social Responsibility

Banco Galicia’s goal is to be the best private bank in Argentina. That means delivering positive economic results that take into consideration the social and environmental impact of everything they do. Their mission to enhance the success of customers and shareholders through financial services is grounded in the principles of transparency, ethics, loyalty, prudence, and responsibility.

The Challenge

21st Century Banking Needs, with Outdated IT Systems

In Argentina, banks are required to offer certain services and products mandated by the country’s central bank. That means, in order to stand out against the competition, Banco Galicia needed to be able to quickly develop and go to market with new and innovative offerings. But the legacy in-house software being used to run operations for more than 20 years was not up to the task.
For example, IT systems would not let the bank vary their approach to accommodate the different needs of individual and corporate customers.

Legacy IT systems were also complicating risk management for Banco Galicia. Cash control, for example, had to be handled manually using spreadsheets, which meant that systems could only be updated 24 to 48 hours after cash had moved from one place to another. Information on the cash available at branches and in vaults and ATMs was often inaccurate, exposing the bank to unnecessary transportation and penalties. Plus, errors in the data on the bank’s total cash balance complicated planning activities and collections.

It was clear that Banco Galicia needed to undergo a full-scale IT transformation.
Banco Galicia serves a very large client base – from individuals to large corporations, each with specific requirements – and our existing IT systems would not let us differentiate our approach to each client. For instance, we needed to manage our customers’ accounts in different currencies – namely pesos, dollars and euros – and offer new services in the most efficient way and at the lowest possible cost. Trapped by this IT infrastructure, the challenge was to catch up with the requirements of a 20th century bank as well as the world’s major banking corporations. – Diego Revello, ITC Manager, Banco Galicia.

Enter SAP

To Be #1 in Technology, You Need a Top-Tier Technology Partner

If Banco Galicia was to achieve the goal of becoming the top bank for technological innovation in Argentina and Latin America, they knew they needed a world-class technology partner. After carefully researching multiple vendors, Banco Galicia chose SAP to help transform their core banking systems, beginning with deposits, loans, collaterals, and the client database. 

For the implementation, the bank needed a partner that could minimize the impact of the change and reduce the risk associated with deploying new technology. That would mean using standard packages and minimizing customization. To make sure the job was done right, Banco Galicia chose to work with the SAP Services organization.
We decided on SAP instead of other vendors because of reputation, importance, and a sense of the company. SAP was that company. – Eduardo Agra, CIO, Banco Galicia

Enter SAP: The SAP Experience

Easing the Transformation Experience

Banco Galicia worked hand-in-hand with the SAP Services organization to make its core banking transformation goal a reality. The SAP team had the IT and industry expertise to mitigate the risks of such a large-scale change in IT infrastructure and to ease the transition to help ensure minimal business impact and smooth adoption for users. Plus the local team was familiar with the intricacies of the Argentinian banking system and could put Banco Galicia in touch with the right people on the development team.

If I had to summarize the three main characteristics of the SAP Services organization, I would say it is the quality of the people and the services they provide, their dedication, and their commitment to the success of our project. – Eduardo Agra, CIO, Banco Galicia

Better Business

Winning New Customers

With the new infrastructure, Banco Galicia is able to develop and launch new banking and financial products much faster, helping the bank be more competitive, thus winning new customers from private and corporate banks.

Better Business: Benefits

The Technology to Stay on Top

Banco Galicia quickly began realizing the benefits of their currency management and optimization solution. Cash transportation was optimized, helping reduce costs and guaranteeing that cash was available when and where it was needed. A centralized view of historical movement also made it possible to forecast and organize logistics based on the needs of the bank as a whole.

Now, new products and services can be brought to market at speeds never before imaginable. An outstanding example is the rollout of Projecto Galaxia, which moved all of Banco Galicia’s savings accounts to the new core-banking system from SAP. Just days before the move, the Central Bank of Argentina announced a new requirement involving U.S. dollar savings accounts that differed sharply from existing Central Bank mandates. A decision needed to be made almost immediately on whether or not to incorporate functionality to meet the new requirements. Banco Galicia and the SAP Services team went for it, making Banco Galicia the only bank in the country that was immediately able to comply with the new regulations – solidifying its reputation in Argentina as a leading bank in cutting-edge technology.

One of the major benefits we are seeing now is that the bank is really ready to go to market with new products in a very, very short time – something that was really unbelievable before. – Eduardo Agra, CIO, Banco Galicia

Better Business: Run Simple

Ongoing Optimization and Innovation

Investing in a long term plan for the future has not only increased Banco Galicia’s agility to fulfill business requirements, it has also positioned the bank to begin fulfilling their strategic vision of being hailed as the region’s finest financial institution. Banco Galicia continues to streamline the cash management processes and is continually on the cutting edge of technological innovations to improve customer service.

The role SAP plays is really strategic. They are in our heart – they are at the core of our application strategy. – Eduardo Agra, CIO, Banco Galicia

Journey Ahead

Banking on a Partnership of Continued Success

Banco Galicia and SAP will continue their partnership with the goal of making Banco Galicia the top-rated bank in Argentina. That means designing new and innovative products and services for their customers while staying ahead of economic trends to minimize risk and drive client success.

The SAP for Banking solution will allow us to plan, design, and launch new services for our customers, and improve the existing ones in a way that was not previously possible. – Diego Revello, ITC Manager, Banco Galicia
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